Killeen Manufactured home Lender
Killeen Manufactured Home Loans
Home prices and interest rates are rising, making homeownership more expensive and less accessible to low to moderate-income earners. However, there are alternatives that you can consider, like manufactured homes.
Some home buyers would settle for an old house and renovate it. You can still buy brand-new homes through manufactured homes. It is a more affordable alternative if you can’t afford traditional dwellings.
At Capital Home Mortgage, we can finance your manufactured home through a one-time close construction loan. Please speak to our mortgage loan officers in Killeen, Texas, to get started.
What is a One-Time Close Construction Loan?
A one-time close (OTC) construction loan is a loan program that covers two purchases: the lot where the house will stand and the manufactured home. Since you can buy manufactured homes anytime, you must first secure the lot where it will stand. Once you have a lot, you can order a manufactured home from your chosen manufacturer.
We recommend an OTC loan because it makes it easier for borrowers to buy two properties in just one closing. In the traditional application process, you’ll need two loans for the manufactured home and the lot, assuming you don’t have enough funds to finance either. With an OTC, you can apply and be approved for a single loan and use its proceeds to buy the manufactured home and the lot.
Benefits of OTC for Manufactured Homes
We see a couple of benefits of OTC loans for manufactured homes. If you’ve decided to buy manufactured homes but didn’t know about securing a lot, we highly recommend this product because of its convenience. Let’s talk about the benefits of OTC loans:
One loan for two purchases
The standard process would mean applying for two loans for two purchases, the land and the dwelling. That requires two applications, two loans, and two closings. With an OTC, you combine the cost to acquire the land and build the manufactured home in one loan.
Less closing costs
A one-time close just requires one closing cost payment. The borrowers won’t be responsible for paying for two separate closings.
Lower monthly amortizations
You’ll be paying two amortizations per month if you have two loans. Each loan has a different interest rate, and you’ll be spending two interest charges. But with OTC loans, you only pay for one.
Apply for an OTC Loan at Capital Home Mortgage
Learn more about OTC loans today. Our direct mortgage lending process at Capital Home Mortgage offers our clients an easy and convenient loan application process. Call us at (254) 213-7343 for more information.
We look forward to providing your next manufactured home loan in Killeen.
Why Killeen HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Low Fees
Exceptional Service
7 Day a Week Support Application to Final Mortgage Payment
Killeen 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 mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
Killeen Manufactured Home Loans
Texas Mortgage Programs
Texas Home Purchase
Thinking of Buying a Texas Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
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Texas renovation home loans
Looking to Rehab a Texas Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan? Purchase the Perfect Home and make it your own. Call today.
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Great for 1st Time Texas Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payment
- Flexible Underwriting
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100% Financing for Texas Veterans
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
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Flexibility for Texas Homebuyers
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Texas Non Conforming Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today to speak to a loan officer.
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Texas USDA Home Loans
100% Rural Texas Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
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- Primary Residence Only
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Texas Native American Home Loans
Texas HUD 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
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Texas reverse mortgages
Your Texas Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- primary residence only
- simple qualifying – equity based
- credit scores not applicable
- Minimum age 62
Texas Non QM Home Loans
Making Texas Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
Texas One Time Close mortgages
Build Your Texas Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
Texas Refinance Mortgage Loans
Texas Rate & Term Refinance
Refinancing can be a hard decision and the payback can sometimes be confusing. Call today and let our Loan Officers walk you through the process.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Texas Cash-out Home mortgages
Texas Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Vacation or Education
