Financing Your Iowa Mobile Home
Are you looking for financing for an Iowa mobile home? Whether you are seeking to purchase a new property or refinance your existing home, eLEND is proud to do business in the Hawkeye State. Our mobile home financing specialists have extensive experience lending in this area, and love working with homeowners to help them achieve their goals.
Low Rates & Other Great Benefits
One of the first concerns that most potential home buyers have is that the cost of financing a mobile home will be high. Similarly many current homeowners are struggling to make their monthly mortgage payments and are seeking a way to bring those expenses down. Our Iowa mobile home loan programs are FHA loans backed by the Federal Housing Administration. This allows us to offer excellent, cost effective terms for these loans, including:
- Low mortgage rates. The interest rates for these loans are generally very competitive when compared to similar programs available in the marketplace.
- Low down payment requirement. Buy a home with just a small down payment. This program even permits the down payment to come from a gift from a family member, or from a down payment assistance programs for borrowers to whom they are available. If you are looking to refinance you don’t have to worry about having a large amount of equity in the property.
- Ease of qualification. These loans are available even to those with less than perfect credit. Worried you won’t qualify for financing? Give us a call to talk through your scenario. What you hear might just surprise you!
eLEND’s mobile home financing program can be used to purchase or refinance a singlewide or doublewide home on owned land. There are several requirements that must be met in order to qualify for an FHA mobile home loan from eLEND including (but not limited to):
- The home must be a minimum of 400 square feet.
- The home must have been built after June 15, 1976, and in conformance with the Federal Manufactured Home Construction and Safety Standards. (There will be a certification label indicating this).
- The loan must be cover the manufactured home as well as the property it sits on.
- The home must be on a permanent foundation and cannot be located in a trailer park.
- The home cannot be located in a flood zone.
- The borrower must meet a minimum credit score of 620 FICO.
Call us for a free rate quote
Don’t wait to get started. Let our team get to work for you arranging an excellent financing solution for your Iowa mobile home. Call (800) 634-8616, request a quote for current rates, or get started online.
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