Capital Home Mortgage Fort Worth

Forth Worth Manufactured Home Loans

Fort Worth Manufactured Home Lender

Fort Worth Single Close Manufactured Home Loan 

A manufactured home, also called a mobile home or trailer home is a home that was built in a factory and follows the building code set by HUD, the U.S. Department of Housing and Urban Development.

A manufactured home and a mobile home are the same things. HUD began regulating the construction of mobile homes on June 15, 1976, and they were branded “manufactured homes.” This made manufactured home construction uniform independent of state or city, whereas site-built homes must adhere to state and local building requirements.

What is a One-Time Close Construction Loan?

A Single-Close Construction to Permanent loan is a type of home loan that allows a borrower to close both the construction loan and the permanent financing of a new home simultaneously. They’re also known as “construction to permanent,” “single close,” “one-time close construction loan,” “construction conversion,” “CTP,” and “all in one” loans.

The single close CTP loan consolidates the temporary construction loan and the permanent 30-year loan into a single promissory note and deed of trust, allowing the loan closing to occur all at once.

Types of OTC Loan Program

Portfolio lenders offer different versions of construction-to-permanent loans with their respective eligibility requirements. 

  • FHA Manufactured Home Loans

FHA will finance a manufactured home based on HUD’s minimum guideline requirement. Borrowers must meet the minimum credit score, income, and down payment requirements like any other FHA loan. However, there are other qualifying factors to be considered.

    • The manufactured home must be built after June 15, 1976;
    • It must be real property, not personal property;
    • Must have at least 400 square feet of living area;
    • Be permanently attached to a foundation and on land that you own.

A “real property” must include the land that can’t be easily removed, like a house, an in-ground pool, or a paved driveway. On the other hand, “personal property” can be moved and used elsewhere, like a car, a boat, or a travel trailer. 

  • USDA Manufactured Home Loans

USDA Rural Housing loans for manufactured homes require no money down. The property must also be:

    • Brand new from the dealer;
    • Must be permanently attached to its foundation, built to HUD’s post-1976 criteria, and at least 400 square feet in size;
    • A minimum credit score of 640 is required;
    • Must be located in a USDA-eligible area.
  • VA Manufactured Home Loans

The Veterans Administration allows eligible servicemen and women and their eligible spouses to buy a manufactured home with specific qualifying requirements.

    • The manufactured home will be attached to a permanent foundation;
    • Must be used as a primary residence;
    • Escrow impounds for taxes and insurance are required.
  • Conventional Loans

FannieMae and FreddieMac offer risk-based fee manufactured home loans. Your credit score will be the primary determining factor in whether or not you are approved for a manufactured home loan. Most lenders in this category seek a credit score in the 700s and a solid credit history.

Apply for a Manufactured Home Loan

Financing a manufactured home differs slightly from financing a traditional home. Talk to our manufactured home loan specialists at (817) 779-7133 to learn more, or apply now

Why Fort Worth is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Fort Worth Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Fort Worth Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Fort Worth Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for the mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Benefits of a Fort Worth Manufactured OTC Home Loan

  • More Affordable than Traditional Builds
  • Combine Land and Home into the Purchase
  • Lock Today’s Rate
    • Remove the risk by Locking the Final Rate ahead of the Completion.
  • Close One Time
    • Reduce costs by closing once and save from having to repeat fees.
Manufactured Home Loan Benefits
  • More Affordable than Traditional Builds
  • Combine Land and Home into the Purchase
  • Lock Today’s Rate
    • Remove the risk by Locking the Final Rate ahead of the Completion.
  • Close One Time
    • Reduce costs by closing once and save from having to repeat fees.
Not Sure? Take a Look at Other Fort Worth Mortgage Programs

Fort Worth Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

Chris Erwin

Loan Officer
NMLS 914064

Dale Gremillion

NMLS 210325

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