Capital Home Mortgage Laredo

Laredo Manufactured Home Loans

Laredo Manufactured Home Lender

Manufactured Home Loans In Laredo

A mobile home is the same as a manufactured home. On June 15, 1976, the Department of Housing and Urban Development (HUD) put restrictions on building mobile homes. As a result, the construction became standardized and independent of state or city, in contrast to the requirement for site-built homes. After June 15, 1976, all mobile homes were referred to as manufactured homes.

What is a One-Time Close Construction Loan?

The one-time close construction home loan combines the borrower’s home and mortgage into a single transaction with a single closing. The borrower saves money by only paying one set of closing fees by combining the land and manufactured home purchases into a single loan.

There are different one-time close loan programs.

  • FHA OTC Construction Loan

All manufactured homes must be constructed after June 15, 1976. The total floor area must be at least 400 square feet for FHA financing. The property must be registered as “real property,” attached to a solid foundation, and meet other requirements to qualify for FHA financing.

  • VA Construction Loan

To qualify for VA financing, a manufactured house must have at least 400 square feet of total floor space on a single-wide home. Double-wide properties are required to have a minimum floor size of 700 square feet and a permanent foundation.

  • USDA Construction loan

All prefabricated houses must be brand new and dealer built to qualify for USDA Guaranteed Home Loans. USDA funding, like FHA and VA financing, requires the residence to be attached to a permanent foundation and have a total square footage of at least 400 square feet.

The property must be located within the USDA qualifying region map to qualify for USDA financing. Applicants must have a credit score of at least 640 to qualify for 100% financing.

  • Conventional OTC Construction Loan

All manufactured homes must follow HUD’s manufactured homes code of June 15, 1976. It must be attached to a permanent foundation and titled as “real property” to pass conventional loan underwriting criteria.

Apply for a One-Time Close Manufactured Home Loan

Capital Home Mortgage provides a one-time closing construction loan for manufactured home and land combination purchases. Call us at (956) 307-3422 and speak with one of our OTC Loan Specialists, or apply online now to get started.

Why Laredo is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Laredo Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Laredo Customer Service

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

Laredo 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 Laredo 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 Laredo Mortgage Programs

Laredo Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

Chris Erwin

Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

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