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What are Portfolio Mortgage Loans?

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All You Need to Know About Portfolio Mortgage Loans

If you are looking for a new manufactured or modular home, chances are you went the typical route of looking for a traditional mortgage loan. However, most mortgage lenders and banks do not have programs that are designed for manufactured homes and you might have been left scratching your head wondering what is your next option. Luckily, a few options are available to help you finance your future home — such as a portfolio mortgage loan.

What is a Portfolio Mortgage Loan?

A portfolio mortgage loan is a type of loan that is not sold to or guaranteed by Fannie Mae, Freddie Mac, or any government agency. Portfolio loans are kept by lenders in their own portfolios rather than selling them on the secondary market. Because they are not subject to the same guidelines as other loans, portfolio mortgage loans can be more flexible which makes them a good option for borrowers looking to finance the construction costs (such as site-prep and delivery) of a new manufactured home. 

Where Can You Get a Portfolio Mortgage Loan?

Cascade offers portfolio loans specifically designed for manufactured and modular homes. They can be used for a variety of purposes including the construction of a new home, purchasing an existing home, or refinancing an existing mortgage. One key difference between a portfolio mortgage loan and a conventional mortgage is that this type of loan product is ideal for someone who may have a low credit score or a high debt-to-income (DTI) ratio. 

Regardless of your intention for applying for this loan product, your certified manufactured home loan specialist will be able to guide you in the right direction throughout the process.

Pre-Qualify for a Portfolio Mortgage Loan Today!

Having served the American dream through attainable home ownership since 1999, the certified loan specialists at Cascade Financial Services are here to help with all of your manufactured and modular home loan needs. To pre-qualify for a portfolio mortgage loan, please start the home loan onboarding process or call us at (877) 408-6032!

Ready to get started?

Call us at (877) 869-7082 or complete your online application today!