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minimum credit score for a manufactured home loan?

by collette754 from Temecula, California. Jun 7th 2016 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

There is no one answer that fits all.. Every loan borrower is different and every lender is different.. But this I know for sure.. very few lenders do financing on MFH's, and those that do will require higher credit scores than they would for single family homes.. so to go that route, you would need to have better credit.. Also, if a lender does do MFH's, the rate will be higher.. probably less than 1%, but none the less, higher.. If you want to know for sure, then I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jun 7th 2016
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Lorne Harvey (lorneharvey)
#1 ranked lender in Washington - 418 contributions

The lender I use has a minimum credit score of 680 for MFH

Jun 7th 2016
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Larry Gray (lgray_312_247)
#5 ranked lender in California - 1,127 contributions

If you need assistance, without spending your hard earned money for it, you are welcome to contact me as I have worked with many borrowers trying to get to a sufficient credit score to qualify for the purchase of a manufactured home. Generally, lenders willing to lend on manufactured homes require higher credit scores than for an FHA or conventional purchase of a standard (not manufactured home.)

Jun 9th 2016
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