Manufactured Home Refinance Guidelines

Age of Home: All homes 1976 and newer.  Homes older than 1987 may require independent appraisal paid by the homeowner.  Homes older than 1987 may not qualify in some states. 

Home Location:  Home must be in a manufactured home park, community, leased land, or owned land (Can be either the home owner or other, land deed not in current loan)

Home Type:  All manufactured Homes

Credit Score: FICO score of 600+ required.  Cannot accept Bankruptcies in the last 2 years or anyone using contractual credit repair services. Current late pays within 6 mo on current mortgage forbidden.

Income: Proof of income required.  (w-2's, bank statements, and/or other)

DTI (Debt to Income Ratio): DTI of 45% or less.  Up to 55% based on other applicant criteria.  DTI = (Your Monthly Gross) / 12 *  .45   DTI is the amount a bank will allow you spend per month on your monthly bills (Credit Cards, Mortgage, Other Loans)  Individuals who calculate above 45% may fall below 45% with a refinance!

Cash Out Refinance: Current balance of home must be below 80% of the appraised value of the home (Zero Balance OK)  Up to 85% depending on previous criteria.

Debt Consolidation Refi: Current balance of home must be below 80% of the appraised value of the home (Zero Balance OK)  Up to 85% depending on previous criteria.

Minimum Balance: $0 for homes 1988 and newer.  $15000 for homes between 1976 and 1988.

Co-Signers:  Above income restrictions.  Removal of a Co-Signer or adding of a Co-Signer available.  Original applicant required on all applications.  We cannot transfer ownership.

Mortgage Terms: Term of loan cannot exceed current remaining term

Closing Costs:  All costs added to new loan balance (No out of pocket expense)

Manufactured Home Purchase Guidelines

Age of Home: All homes 1976 and newer.  Homes older than 1987 may require independent appraisal paid by the homeowner.  Homes older than 1987 may not qualify in some states. 

Home Location:  Home must be on or placed in a manufactured home park, community, leased land, or owned land (can be either the home owner or other)  Private Sellers and Dealers welcome!!!!

Home Type:  All manufactured Homes!  New, Used, and Repo

Credit Score: FICO score of 600+ required.  Cannot accept Bankruptcies in the last 2 years or anyone using contractual credit repair services. Current late pays within 6 mo on current mortgage forbidden.

Income: Proof of income required.  (w-2's, bank statements, and/or other)

DTI (Debt to Income Ratio): DTI of 45% or less.  Up to 55% based on other applicant criteria.  DTI = (Your Monthly Gross) / 12 *  .45   DTI is the amount a bank will allow you spend per month on your monthly bills (Credit Cards, Mortgage, Other Loans)  Individuals who calculate above 45% may fall below 45% with a refinance!

Minimum Purchase Amount:  $15000

Co-Signers:  Above income restrictions.  Buy-Fors OK!

Down Payment: Minimum 5% down required on all purchases.

Mortgage Terms: 5/10/15/20/25/30 year fixed.

Closing Costs:  All costs added to loan balance (No out of pocket expense, except bank requirement of 5% investment to the home)

Manufactured Homes On Owned Land Refinance Guidelines

Age of Home:   Homes older than 1990 may not qualify in some states. 

Home Location:  Home must be on owned land (Home owner must have deed)

Home Type:  All manufactured Homes! On fixed foundations only, no skirting!

Credit Score: FICO score of 600+ required.  Cannot accept Bankruptcies in the last 2 years or anyone using contractual credit repair services. Current late pays within 6 mo on current mortgage forbidden.

Income: Proof of income required.  (w-2's, bank statements, and/or other)

DTI (Debt to Income Ratio): DTI of 45% or less.  Up to 55% based on other applicant criteria.  DTI = (Your Monthly Gross) / 12 *  .45   DTI is the amount a bank will allow you spend per month on your monthly bills (Credit Cards, Mortgage, Other Loans)  Individuals who calculate above 45% may fall below 45% with a refinance!

Minimum Refinance Amount:  $75000

Co-Signers:  Above income restrictions. 

Mortgage Terms: 5/10/15/20/25/30 year fixed.  Current mortgage must have both land and home on same paper. We do not add home to land or vice versa.

Closing Costs:  All costs added to new loan balance (No out of pocket expense)

Single Family Home Refinance

Age of Home:   Homes older than 1990 may not qualify in some states. 

Home Location:  Home must be on owned land and on fixed foundation, no manufactured homes

Home Type:  All single family homes!

Credit Score: FICO score of 550+ required.  Discharged BK OK Current late pays within 6 mo on current mortgage OK.

Income: Proof of income required.  (w-2's, bank statements, and/or other)

DTI (Debt to Income Ratio): DTI of 45% or less.  Up to 55% based on other applicant criteria.  DTI = (Your Monthly Gross) / 12 *  .45   DTI is the amount a bank will allow you spend per month on your monthly bills (Credit Cards, Mortgage, Other Loans)  Individuals who calculate above 45% may fall below 45% with a refinance!

Minimum Refinance Amount:  $75000

Co-Signers:  Above income restrictions. 

Mortgage Terms: 5/10/15/20/25/30 year fixed and variable rates.

Closing Costs:  All costs added to new loan balance (No out of pocket expense)

Underwriting Guidelines may be subject to change without notice.  Guidelines may vary from state to state.  Guidelines stated above is considered general criteria required for pre approval on a purchase or refinance.  Banks may use other non stated guidelines to approve or disapprove any application.  Submission of your application to URefi.com does not necessarily guarantee an approval at any time.  Underwriting times may vary.  Please allow 1-7 days for approval or denial.   If you need a loan status update or have questions please go to our contact page located HERE