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FAQs
Answers to common questions!
What is the advantage of using a website like this one?
When you search for lenders that provide financing for manufactured homes, you are bound to find multiple lenders that give the impression that they will lend on mobile homes. After spending your valuable time with them, you find out in fact that they do not have any loan programs or very limited loan programs for manufactured homes. We have been in the manufactured housing and lending industries for years and have compiled a database of lenders that provide real financing options for both manufactured homes on land and in parks. Click Here to get started!
How much does it cost to use your service?
Absolutely Nothing! CompareMobileHomeLoans.com exists to help the mobile home lending industry by connecting borrowers with lenders. All you have to do is fill out the Short Form and we will promptly connect you with mobile home lenders. How much dddd
What kind of rate can I expect?
This is a hard question to answer, because there are several factors that come into play, such as; whether your house is on land or in a park, loan program, down payment, credit scores, loan term as well as the lender providing the financing. Rates can fluctuate tremendously based upon the above factors, but can be as low as the 6% range for houses on land and 7.5% for houses in parks. If you would like to find out what rates are possible for your situation Click Here to fill out the form.
I am not ready to buy/refinance yet, why would I want to get started now?
There are several important reasons why you would want to get started now, even if you are not ready. To begin, nearly 80% of all credit reports have errors on them, and they are almost never in your favor! Starting early gives you the time needed to correct any errors that may prevent you from qualifying for a loan. Starting early, not only allows you to narrow down which lender is best for you, but also which loan program is right for you as well. Finally, starting early takes the stress away, by having the answers in place before hand. Click Here to get started!
Why do you ask for my credit score?
There are two main reasons why we ask for your credit score, privacy and accuracy, and both are for your benefit.
1) By you providing your credit score, we (and any lender that may contact you) will not need sensitive information, like your social security number in order to provide you with a financing quote.
2) One of the big determining factors for interest rates on loans is your credit score. Many other sites will ask you for a credit level that best fits you. Not only do we find this method confusing for any visitor, but it often results in loan quote that does not fit the borrowers actually credit profile. By providing your current credit score, lenders are able to give you a loan quote that accurately reflects your current credit standing and avoids a “bait and switch” method of quoting a rate that is only available for borrowers with excellent credit. Click Here to get your free credit report. Now!
It has been a while since I pulled my credit report and I think I know what my score is, do I need to pull it again?
Credit scores can fluctuate over time, even in less than 30 days. If it has been more than 14 days since you pulled your credit report it is strongly recommended that you pull your credit again. Click Here to get your free credit report. Now!
No! We do not require that you pull your credit through the credit reporting link provided; you are free to pull your credit from other sites. We do ask that the credit score you provide has come from a credit report within the last 14 days. Click Here to get your free credit report. Now!
I have heard that if my credit report is pulled, it will lower my score, is this true?
This statement is only partially true. If a business (like a lender or car dealer) pulls your credit, it will show up on your credit report and can affect your credit score. What most people don’t realize is that consumers can pull their credit report whenever they want, without any affect to their credit. This is one of the big reasons why we ask you to pull your credit. By you, the consumer, pulling your credit, it prevents multiple lenders from pulling your credit, thus retaining the integrity of your credit score. Click Here to get your free credit report. Now!
What if my credit isn’t where it needs to be to qualify for a loan?
This is one of the reasons why we stress starting the process early. Our desire is that everyone can get approved for a home loan. We understand that “life happens” and we also understand that a low credit score may have been caused by events outside of your control. If you are looking to improve your credit score, check the box on the form to request more information on resources and services that have produced amazing results in the past. Click Here to get started!
My local mortgage broker turned me down for financing and said there aren’t any lenders providing financing for manufactured homes, is this true?
While it is true that many lenders no longer offer financing for manufactured homes, there are still lenders out there that will. While most of them may be companies that you have never heard of, rest assured they have been in the business of lending on mobile homes for a great deal of time and know what they are doing. We have been in the manufactured housing and finance industry for a long time and have built a large database of lenders that provide financing for manufactured homes, both in parks and on land. Chances are we know of a lender that is a god fit for your situation. Click Here to get started!
I already have found a lender that claims they can get me the best deal around, why should I use your service?
While the lender you are working with may be offering you a fair deal, you never will know until compare their offer with others. The services we provide to you are absolutely free to you. We have you pull your credit yourself, so other lenders do not need to pull it, thus protecting you from any credit deterioration. Click Here to fill out the form!
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