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Mobile Home Financing Guidelines
- Up to 95% LTV on Owner Occupied, Full Doc loans.
- Up to 85% LTV Buy For, 2nd Home, & Pre-Hud
- Up to 80%LTV on Investment and Stated Income
- Up to 80% LTV on Land Home loans not on a paved road
- Financing available for all credit types
- Will finance Pre and Post HUD co-op homes
- Purchase, Refinance, Bank Repo's , 2nd Homes, and in CA only, we offer Investment Property programs and Bank Statement as Full Doc Programs
- We finance Singlewides, Doublewides, and Triplewides
- Home Only (chattel) and Land Home programs available
- Cash Out, Debt Consolidation and Home Improvement programs available
- No age restrictions on Land Home loans; 1965 and newer on Home Only loans
- No foundation requirements
- Closing Costs can be financed
- Up to 2 years of homeowners insurance can be financed & 1 year of home warranty program if purchased through us
- No pre-payment penalty loans available
- All chattel loans are assumable
- Competitive Rates for land home: Rates average from 5.5% to 9%. Rates for Home Only: 7% to 13%
- Up to 45% Housing Ratio and 55% overall Debt to Income Ratio. We suggest using a 240 month term and 9.75% rate for home only good credit pre-qualification purposes and a 6.5% 360 month term for good credit land home
- We finance off of appraised value in most cases
- We finance lender's repossessions
- Appraisals must be conducted from one of our approved appraisers
- Broker package must be completed before Level can disburse broker's compensation
- Loan submissions are evaluated and underwritten on a case by case basis. Exceptions are considered and subject to investor approval
Hard Money Snapshot
- Borrow up to 65% of the value of the property depending on the situation
- 1st, 2nd, 3rd Trust Deeds
- $15,000 to $5,000,000 (and up, if needed)
- Funding usually within 10-14 days of required documentation / appraisal if necessary
- Terms from 1 year to 7 years
- Interest only loans
- Typically 6 months prepay
- Credit and DTI are not deal breakers as long as borrower can service the debt
- No Rehab loans available
Residential Financing Snapshot
- Up to 97% LTV Purchase Programs
- Financing Available for All Credit Types
- Alternative Doc Financing Available
- Unlimited Cash-Out Up to 95% LTV
- Jumbo Loans Up to $10M
- 100% LTV VA Financing
- We Finance Foreclosures
- Interest Only Programs Available
- 80% LTV Investment Purchases
- Reverse Mortgages
- You're LEADER in Government Financing
- Home Equity Lines of Credit
- Construction Financing Available
- Same Day Approvals
- Licensed in CA, AZ, NV, WA, OR, ID, CO, TX, HI