Triad Financial Services Manuf Land Home Program
Best For: First Time Homebuyers, New Construction
Triad Manufactured Land+Home
Program Description
Program is designed for borrowers who want to buy a piece of land and put a Manufactured Home upon it. Can be Park Model, Single-Wide, Double-Wide or other manufactured home. Must be post-1976 manufactured date.
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Triad Financial Services Manuf Land Home Program
Min. Credit Score
550
Min. Down Payment
5%
Max Loan Amount
No Limits
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- Primary or 2nd Home
- Only 5% Down Payment
- No Reserves Required
- No Rhode Island, D.C., Alaska, Hawaii, Nevada, Maine, Massachusetts, New York, and Utah
- Low Service Levels
Program Availability
Triad Financial Services Manuf Land Home Programs are available in 44 states, Puerto Rico and the U.S. Virgin Islands.
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“Program is designed for borrowers who want to buy a piece of land and put a Manufactured Home upon it. Can be Park Model, Single-Wide, Double-Wide or other manufactured home. Must be post-1976 manufactured date."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
50.00%
Purchase Price Limit
No Limits
Income Limit
No Limits
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- Allows nearly all kinds of Factory-Manufactured Housing
- Credit Scores to 550
Additional Conditions
- New Construction= Max loan amount is based off the LESSER OF the acquisition cost (cost of land* + cost of home + improvements) or the Full Appraised value. *Cost of land is the lesser of the purchase or the appraisal value of land. Purchase = Max loan amount is based off the lesser of the purchase price or the full appraisal value. Refinance = Max loan amount is based on Full Appraisal
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is not required for this loan program.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: No Funding Fee
This program does not have a funding fee.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Triad Home Only & LandPlus Program
Best For: Flexible Terms, First Time Homebuyers
Triad Home Only & LandPlus Chattel Program
Chenoa Fund FHA Manufactured Home Purchase Loan
Best For: First Time Homebuyers, Low Credit Scores, Lowest Rates, Easy Qualification
Low down payment requirements, easier qualification guidelines, lower rates, and flexible terms for first time homebuyers and beyond.
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* Eligible for Park Model, Single-Wide, Double-Wide or other manufactured home + land
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