Home Financing

American Modular Homes priority is to get you approved!

We work closely with lenders who understand our product and want our customers to fulfill their American Dream.

We understand customers need financing when purchasing a new manufactured or modular home. American Modular Home will find you the best financing option available with the most competitive rates.We work with several lenders who can help our customers with their financing need to buy your new manufactured or modular home.Don’t have perfect credit?The team consists of experts who will work with you to get you approved. We will be there with you every step of the way, to make sure that the loans are closed quickly. Our first priority are our customers.

American Modular Homes is specialized to help customers with a credit score of 575-599. We have a number of homes that qualify for this program. The home buyer is required to have at least 10% down cash, trade, or land equity( or combination of) and have valid income. For a credit score of 600 or greater only 5% down payment is needed.

Government Loan Programs for Manufactured Homes

When purchasing your dream home, it is helpful to know the different types of loans available to you. From conventional mortgages to government sponsored home loan programs, there are so many options available for you and we here at American Modular Homes will be with you each and every step of your journey. Below are some the government insured programs.

USDA Home Loans!

The ability to buy Manufactured homes or Modular homes with USDA loans increased the opportunity to buy and own your house for low income Americans. Process of applying a USDA loan is very similar to apply for a conventional loan, because your chosen lender handles your whole transaction from beginning to an end.You just have to make sure that lender is USDA approved lender

FHA Loans!

Under the Title I program, FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a manufactured home and/or lot. FHA insures the lender against loss if the borrower defaults. Credit is granted based upon the applicant’s credit history and ability to repay the loan in regular monthly installments.

FHA does not lend money; FHA insures loans in order to encourage mortgagees to lend. Title I manufactured home loans are not Federal Government loans or grants. The interest rate, which is negotiated between the borrower and the lender, is required to be fixed for the entire term of the loan, which is generally 20 years.

VA Home Loans!

VA loans are government-backed loans and are very beneficial for the borrowers as they help the borrower to get some good financial benefits in the long term.They provide the loans for manufactured homes. Manufactured homes can be called as mobile homes too. These kinds of homes are built in a factory and constructed by the engineers. These kinds of homes are built according to the rules of federal building code administered by the U.S. department HUD. As these kinds of homes are built by the engineers in a factory so these are very comfortable and safe from weather, environment and other dangers.