Refinance manufactured home loans

Refinance loans for manufactured homes

Refinance your manufactured home with Tammac and save money! Refinancing can allow you to secure a lower interest rate and possibly lower your monthly payment or set a new payment schedule. With today’s interest rates being relatively low, homeowners who bought just a few years ago can lower their interest rates and mortgage payments by refinancing their manufactured home.

How the Tammac refinance loan program works

Save thousands over the term of your loan by taking advantage of historically low rates. Refinance your home with a new loan that will lower your monthly payment or shorten your loan and let you own your home sooner. It’s easy and will save you money! If your home was built after 1976, you may qualify for refinancing and save thousands over the life of your loan. Shorten your term and pay off your home sooner, or take advantage of historically low interest rates to reduce your monthly payments. Tammac can refinance both land & home or chattel to lower your monthly payment. We can also combine the owner financed lot and a loan for your home into one low monthly payment.

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
  • 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

  • Pay stubs which include year to date gross income (must cover 30 days) and the most recent two years W-2s for borrowers that are currently employed
  • 2 years tax returns for self-employed borrowers
  • 1099s, 1099Rs, award letters, and 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)
  • 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)

Apply now

If you’re ready to apply for manufactured home refinancing, just click the button below and fill out a quick quote form. See how fast and easy it is to get approved with Tammac and experience the Tammac Difference.