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Loan Programs
Manufactured and Mobile Home Loan Programs
We are a full service lender which specializes in manufactured home loans. Our experienced staff will underwrite, originate and service your loan. We are accessible for questions pertaining to your loan at all stages of your relationship with Tammac Holdings Corporation. We pride ourselves on being small enough for you to know our staff names but big enough to handle millions of dollars of loans each year. We offer competitive rates for affordable housing as well as quick turnaround processing and ease of use with our new and improved online application and documentation support processing system.
Our Manufactured and Mobile Home Loan Programs offer:
- Financing for New and Used Manufactured Homes
- Financing for homes located in a park/community, private owned or leased land or land/home for existing properties as well as construction loans.
- Primary, Secondary and Vacation homes (not to be occupied by others)
- Fixed Rates
- No Pre-payment Penalties
Program Details
- Single wide or multi section homes
- Chattel (Home Only) and Land and Home loans (existing or construction) available.
- No requirement for permanent foundations. (Homes must conform to local building codes)
- Minimum loan amount is $10,000.
- Flexible Terms
- We do not offer refinance loans or assumptions.
- We will not finance other lender’s repossessions or foreclosures.
- All loans must qualify based on our current underwriting standards as well as the established ability to repay rules.
Credit Guidelines
Meeting These Guidelines Does Not Guarantee Approval
- Loans are available in the following states: Chattel: Delaware, Kentucky, Maine, Maryland, New York, New Jersey, Ohio and Pennsylvania. Land/Home: Delaware, Kentucky, Maine, New York, Ohio and Pennsylvania.Email Address (if you wish to complete an online application and/or receive documents electronically)
- Minimum Loan Amount: $10,000.
- Low Down Payments
- Age of Mobile Home – 1976 or newer HUD coded homes only.
- Escrow for insurance and taxes is required for all loans.
- Property must be on a publicly maintained road, no shared wells, no cisterns.
Items needed to complete a credit application
- Email Address (if you wish to complete an online application and/or receive documents electronically)
- Social Security Number
- Purchase Price
- Cash Down Payment Amount, Land Equity Value or Trade Value
- Home Information including Year, Manufacturer, Size
- Subject site address, property type (park/community, leased land, owned land) and lot rent payment
- Name of Seller, Retailer or Realtor
- Current gross (before taxes) income
- 3 years history for income and residence
- Current monthly debt payments (include alimony and child support if owed)
Documents Needed to Complete Your Loan
- Paystubs which include year to date gross income (must cover 30 days) and the most recent two years W2’s for borrowers currently employed
- 2 years tax returns for self-employed borrowers
- 1099’s, 1099R’s, award letters, proof of current deposits for retired borrowers
- Divorce decree and proof of 12 months on time payments for alimony (if listed on the application)
- Court Order and proof of 12 months on time payments for child support (if listed on the application)
- Copy of Deed (if owned or private land)
- Landlord Waiver (if private land-owned by another)
- Park Approval Letter (if in a Community)
- NADA Certified Appraisal (if purchasing a pre-owned home)
- Proof of funds used for cash down payment and closing fees via two months of formal bank statements or gift letter and proof of funds (if applicable)
- Copy of Driver’s License (or alternate photo ID if borrower does not drive) for proof of identity
- Copy of Social Security Card
- Property tax information (tax bills if existing home, tax collector info if new home)
- Copy of title for the mobile home (if pre-owned)