We know how hard it is for owners and buyers of manufactured (mobile) homes to find fixed-rate, long-term mortgage loans.
That’s why we created Welcome Home Loans.
Welcome Home Loans are for people who have, or who want, the security of living in a manufactured home in a resident-owned community (ROC) or on their own land in New Hampshire. They can be used to buy or refinance a home.
What you need to know
- Single-family first-mortgage loans for purchase, refinance or home equity
- No limit on age of house
- No minimum credit score required, but satisfactory record of repayment on past credit needed
- Borrower must have a stable income and show that they will be able to repay the mortgage
- Minimum down payment of 5%; at least 2% must come from the borrower, the rest can come from gifts or from the seller
- Income from self-employment is accepted
- Fixed interest rate; current interest rate is 8.875% (Annual Percentage Rate of 8.953% with a $100,000 loan amount, $5,000 down payment, 30-year term, no points*).
- Terms from 5 to 30 years
- No private mortgage insurance required
- Appraisal required
* Your actual rate, payment, and costs could be higher. Get an official loan estimate before choosing a loan.
We will lend up to
- 95% of the lower of the purchase price or appraised value for a purchase mortgage loan
- 95% for the refinance of an existing mortgage loan, and
- 85% of the appraised value for “cash out” refinances and home equity loans
How to start
Call us at (603) 224-6669, option 1. We’ll answer all your questions and provide a free, no-pressure consultation, including a review of the terms of your current loan (if you have one). Or, click the button below to learn how to prequalify for a loan.