Securing a loan to purchase a home can be difficult, especially if you're interested in a mobile home. That's why here at Cascade Financial Services, we offer home loans tailored explicitly to buyers looking for a mobile or manufactured home in Miami and throughout Florida. We're committed to helping you access the American dream of homeownership. Here's what you need to know about our mobile home mortgages and how to apply.
A mobile home loan is a mortgage designed for customers who purchase a manufactured or mobile property. These loans include competitive rates to help make buying a home an obtainable goal for many customers who have been underserved by larger lenders.
The terms mobile home and manufactured home are often used interchangeably. However, it's important to keep in mind that they have fundamental differences. A mobile home can refer to any mobile property built before 1976. In that year, the federal Department of Housing and Urban Development passed regulations to improve mobile home construction, including building standards and energy efficiency requirements. The homes built in line with these rules are called manufactured homes.
Opting to purchase a manufactured home in Miami offers several benefits over a traditional house built on a fixed foundation. Firstly, it's an ideal option if you prefer a more minimalist lifestyle in a compact home. If you don't require a lot of space for your day-to-day needs, a manufactured home can be just right.
Mobile home loans also offer buyers a great opportunity to get on the housing market. Mortgages for traditional homes are often hard to access, especially if you have a poor credit score or don't meet the financial requirements set by the major lenders. Even if owning a mobile home isn't your ultimate goal, a mobile home loan can be the first step towards a more extensive mortgage in the future.
Finally, manufactured home loans typically have a shorter repayment period than traditional mortgages because mobile homes tend to be a lower-cost option than conventional housing units.
We can also help you if you're looking to secure better financing terms for your manufactured home mortgage, if it is on a permanent foundation. Refinancing an existing home loan can prove beneficial because you can take advantage of more competitive interest rates and a payment schedule that's more suited to your requirements. This option may result in lower monthly payments on your house, which can ease pressure on your daily budget.
Refinancing can also be a good idea to reduce outstanding high-interest debt from credit cards or other loans. We can help you consolidate your debts into one loan so that it's much easier for you to pay off.
You can talk to one of our friendly financial advisers about our refinancing options. They can review your existing loan agreement and explain what improvements to your terms we can offer you.
You can get better terms if your credit score has improved since your original loan application, which may be due to your regular loan payments or other factors.
Cascade Financial Services has been operating since 1999 with the specific goal of helping borrowers denied by major lenders access home loans. Two decades later, we've developed extensive experience in supporting customers to purchase mobile homes and manufactured homes across several states.
Because of our years of experience, we can respond to your lending needs. Whether you're looking to take out your first home loan or refinance an existing mortgage with us, our friendly and professional team of financial experts is here to help. If you're planning to put your manufactured home on land that you own, we can arrange an FHA or VA loan to help you get more competitive terms.
We can also offer easy access to the range of financial services we provide. You can make payments on your mobile home loan in minutes through our website. Additionally, you can compare different types of loans you may be eligible for to see which option is best for you.
Applying for manufactured home financing from Cascade Financial Services is relatively straightforward. All you have to do is complete our online application form, and within a short time, we'll provide you with a quote for our best loan offer.
If you're happy to proceed with our offer, we'll require some documentation, including your proof of income and employment status. We'll also check your credit score as part of the application process.
The loan process from beginning to end can vary depending on the type of mortgage you need. A good rule of thumb is that mobile home loans generally take about the same length of time to process as other home loans. On average, this process is likely to take somewhere between 30 and 60 days.
If you're searching for the best home loan deals for a mobile home in Miami, Cascade Financial Services can help. Our professional team of advisers can talk you through the various loan deals we can offer and provide you with tips on which kind of manufactured home to buy.
Don't hesitate to contact us today to learn more about our services. With over two decades of experience in supporting customers with competitive loan options, we can answer any of your queries and help you move into your dream home.