Capital Home Mortgage Odessa

Odessa Manufactured Home Loans

Odessa Manufactured home Lender

Odessa Manufactured Home Loans

Manufactured homes are a wise choice for those looking for a brand-new, contemporary home with a reasonable purchase price and mortgage payment. Many still use the term “mobile home” when referring to these prefabricated homes; they are now known as manufactured homes. 

Manufactured homes can range from 1,000 to 3,000 square feet on average. In terms of looks, these homes have also come a long way, mostly having the appearance and features of modern homes. 

Manufactured Homes vs. Mobile Homes

A manufactured home conforms to the 1974 federal safety standards. These dwellings are constructed in a factory and can be installed on blocks, metal piers, or a permanent foundation. 

While mobile homes can be moved from one location to another, a manufactured home is not designed to be relocated after it is set up. Moreover, they must adhere to the community’s local building codes. Companies that build manufactured homes must also have their blueprints reviewed and verified by a HUD-approved agency to guarantee that their products are safe and in compliance with the law.

Ways To Finance a Manufactured Home

It may be challenging to secure financing for a manufactured home, especially if you are a first-time homebuyer, but it is possible. Those with good credit scores and enough money to cover the down payment may qualify for a manufactured home loan from:

     1) Banks or Credit Unions usually offer manufactured loans to borrowers who already own the land where the home will be installed.

     2) USDA Programs allow eligible borrowers to purchase a manufactured home with no money down as long as the house is installed in a USDA-qualified area.

     3) FHA Home Loan Programs can help you finance the purchase of your manufactured home and the land it sits on. Borrowers with credit scores of 580 or higher will only need to make a 3.5% down payment.

     4) VA Loan Programs offer zero-down payment financing to veterans and active-service members of the military.

     5) Fannie Mae and Freddie Mac provide manufactured home loans with better interest rates than many traditional mortgages.

     6) Chattel Loans are often used to buy factory-made homes placed on land the borrower doesn’t own. 

Essential Things to Keep in Mind When Seeking Manufactured Home Financing

Some manufactured home loans only cover the cost of the house, so you’ll need to secure a separate loan to purchase the land or rent land in a mobile home park. You might not be eligible for most mortgage loans if you lease the land.

Bigger manufactured homes may not qualify for financing. There are limits to the maximum loan amount depending on the program/financing option you choose.

Always compare lenders. Fees and interest rates vary among lenders, so get a quote from at least three lenders and compare which offers the best deal.

Hassle-Free Manufactured Home Loans

If you are interested in purchasing a manufactured home, Capital Home Mortgage can assist you in securing the appropriate financing. Our manufactured home loan specialists are ready to help you in any way possible.  

To meet the varying needs of our customers, we offer a range of loan terms, down payment options, and competitive interest rates. Financing is available for manufactured homes on private land in Odessa and other areas in Texas. We also provide loans for manufactured homes and land, including the house and the property on which it sits. Don’t hesitate to contact us at (432) 218-4828 for more information.

Why Odessa 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 Payment

Odessa 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
Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas Home?

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

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.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Texas FHA Home Loans

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
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Texas VA Home Loans

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.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Texas Conventional Home Loans

Flexibility for Texas Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Texas Jumbo Home Loans

Texas Non Conforming Loans

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

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.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

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
  • No Credit Score Requirements
  • Tribal Grants Allowed

Texas Manufactured Home Loans

Great Alternative Texas Housing

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

  • 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

Odessa Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Amanda Ravallo

Sr Loan Officer
NMLS #1702894

Odessa Mortgage Company Reviews

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