All income must be verifiable through pay stubs, tax returns and w-2 s. A written VOE may be required. Debt consolidation is available for both singlewide and doublewide owners. Cash received from the borrower from cash out may be used for any purpose. A Minimum 630 Credit Beacon FICO score is required.
Brokers can order appraisals.
Appraisals will need to be paid by the borrower or seller. Below is a sample approval reflecting our general requirements on a typical borrower. Home Only loans are considered personal property loans so there does not need to be an attorney or title agent present at closing. Loan docs will be sent to the correspondent to close the loan. The note will need to be notarized as well.