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Learning Center

WE SIMPLIFY THE PROCESS

Step 1

Step 1

Use our Fast Estimator tool to estimate your monthly payment. You'll need the sales price and the park space rent. We will estimate monthly taxes and insurance costs. If this fits your budget, proceed to Step 2 to get pre-qualified today!

Step 2

Step 3

Apply and Get Pre-Qualified

Now, it is time to submit a loan application. You will be providing documents needed to start the loan process (i.e. Tax ID, SSN, home information, name of seller, estimated purchase price, etc.)

Step 2

Step 3

Step 2
Step 2

Find Your Perfect Home

Find your perfect manufactured home for you and your family. After a pre-approval, start viewing homes with a real estate agent. Look at different mobile, modular and manufactured homes.

Apply for Mobile Home Loan

Step 4

Step 6

Start Loan Processing

Getting any other necessary paperwork, information and details that are needed to begin the underwriting process for your manufactured home financing. 

Step 5

Step 6

Documents Evaluated

This step is where documents are evaluated. The underwriting process where all the documentation is closely evaluated for your financing. 

Step 6

Step 6

Closing & Sign

Documents are sent the title company for closing. And Congratulations! You will sign and move in to your mobile home.

Are you ready to start the loan process?

When you are ready, we will need the following:

  • Name and contact information for your Realtor

  • Home information (year it was manufactured)

  • Mobile Home Community Name (contact information for the community manager)

  • Purchase price of the home

  • Community space rent fee

  • State driver's license or State-issued ID

  • The amount of down payment you have to work with

  • The fastest way to get your pre-qualification is to complete our online application

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Mobile home financing
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Fast Estimator

ESTIMATE YOUR PAYMENT

How to use our Fast Estimator tool
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Anchor Team

OUR TEAM

Meet the team at FastMobileHomeLoans.com. Call today to speak with us and get answers to all of your manufactured home financing questions as you start this new and exciting chapter of your life!

(877) 365-3376

EXECUTIVES

Greg Downey Fast Mobile Home Loans.jpg

Greg Downey

Managing Director

One of my passions has always been helping first-time buyers. At Fast Mobile Home Loans we have assembled a great team of people who are fully committed to helping you achieve your goal of owning your own home, and we have the products to help you do it. Please apply today so we can get started!

(877) 365-3376

Charles Arnell Fast Mobile Home Loans.jpg

Charles Arnell

Executive Director

I have been doing home loans for 20 years and I am very proud to say that I have helped more than 2000 clients meet their home financing needs. My objective is to get you the best loan, at the best rate, with the lowest total cost! I am looking forward to working with you.

(877) 365-3376

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Kristin Lord

Operations Manager

I earned my degree in Business from UC Santa Barbara. My background is in sales and customer service. My speciality is building relationships and finding solutions for your financial needs. I love what I do and look forward to assisting you with your home loan!

(877) 365-3376 | NMLS: 2093565

LOAN OFFICERS

Mary Schefter Fast Mobile Home Loans.jpg

Mary Schefter

Loan Officer

I started my real estate career as a licensed realtor in California. Since moving to Oregon, I have been in mortgage lending business for more than 30 years. I look forward to bringing my lending experience to you!

(877) 365-337 | NMLS: 2004407

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Nate Hoffman

Loan Officer

I've been doing mobile home and floating home loans since 1998 and lending since 1991 for large banks with mortgages and chattel loans. I have owned two mortgage companies, a development company, converted apartment buildings into condos, and consulted many client debt renegotiations.

(877) 365-3376 | NMLS: 120036

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Alissa Westmoreland

Loan Officer

I have been serving customers for more than 10 years!  My background and education have always focused on communication. My goal is to provide an excellent customer experience and a smooth transaction every time.  To this end, I am dedicated to helping my customers find the mobile home financing that they are looking for!  I strive to create high-quality professional relationships with all of our Fast Mobile Home Loan clients!

(877) 365-337 | NMLS: 2313351

LOAN COORDINATORS

Casey Laguardia Fast Mobile Home Loans.jpg

Casey Laguardia

Loan Coordinator

Call today to speak with us and get answers to all of your manufactured home financing questions as you start this new and exciting chapter of your life!

(877) 365-3376

Sofia Serrano Fast Mobile Home Loans.jpg

Sofia Serrano

Loan Coordinator

Call today to speak with us and get answers to all of your manufactured home financing questions as you start this new and exciting chapter of your life!

(877) 365-3376

Faith Brion Fast Mobile Home Loans

Faith Brion

Loan Coordinator

Call today to speak with us and get answers to all of your manufactured home financing questions as you start this new and exciting chapter of your life!

(877) 365-3376

Anchor Services

OUR SERVICES

WE FINANCE ALL TYPES OF TRADITIONAL, MOBILE, MODULAR, MANUFACTURED AND TINY HOMES IN PARKS AND ON LEASED LAND AND PRIVATE LAND

States Served: Oregon, Washington & Arizona

Coming Soon: California

Manufactured homes on leased land
MANUFACTURED HOME LOANS
In Mobile Home Parks and On Leased Land
Mobile Home Loans on Leased land
MOBILE HOME LOANS
In Mobile Home Parks and On Leased Land
Manufactured homes financing
MANUFACTURED HOME LOANS
On Your Own Land
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Anchor Reviews

OUR REVIEWS

OUR CLIENTS AND OUR REAL ESTATE PARTNERS LOVE US!

Linda Swift, Broker
Berkshire Hathaway Real Estate

I have worked with Charles Arnell for years and have found this company to be the most Buyer friendly for folks looking for financing to purchase their home in a park. They are always available and you will receive a quick response from them. I highly recommend Fast Mobile Home Loans to you for excellent service.

Linda Swift, Broker

Cell: 541-430-5649

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Anchor FAQ

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The application will begin once you click the checkbox below.

  • What type of homes do you finance?
    We finance all types of traditional, mobile, and manufactured homes.
  • Do I qualify for a FHA loan?
    The Federal Housing Administration (FHA) insures two types of loans that can be used to purchase mobile homes. Each FHA loan has its own set of requirements. FHA Title I Program: Title I loans require a minimum down payment of 5% and can be used for personal property (i.e., manufactured homes classified as vehicles). If you don’t own land, you will be required to sign a three-year lease on the lot you choose to rent. The downside to these loans is that limits are placed on how much you can borrow. These limits are: Manufactured home and lot: $92,904 Manufactured home only: $69,678 Lot only: $23,226 Unless you buy used, this will most likely limit you to a single-wide. Read More: https://moneywise.com/mortgages/mortgages/what-is-an-fha-loan-federal-housing-administration
  • What is a "Mobile Home"?"
    Mobile homes are built in a factory then transported to a plot of land where they are set up. Metal anchors are used to tie them to the ground, and since those anchors typically aren’t permanent, these properties can be relocated with relative ease. Mobile homes are nearly identical to manufactured homes; the main difference is the year the home was built. On June 15, 1976, the National Manufactured Housing Construction and Safety Standards Act was passed. This act enforced new safety laws and construction regulations for mobile homes, especially with regard to fire prevention. By this point, mobile homes had gained a reputation for being poorly constructed death boxes. So, to ease the stigma, the industry changed the name. Homes built before the regulations went into effect are still referred to as “mobile” homes, while those built afterward are called “manufactured” homes. Nowadays, when people use the term mobile home, they’re almost always referring to a manufactured home. Only a small number of “true” mobile homes still exist.
  • What is a "Manufactured Home"?"
    Similar to mobile homes, manufactured homes are also built off-site and then transported to a piece of land for assembly. Single-wide manufactured homes typically come in one piece, while double- and triple-wide homes are built in multiple parts that are arranged on site. Unlike mobile homes, manufactured homes follow regulations set by the Department of Housing and Urban Development (HUD) governing design, durability, fire resistance and energy efficiency. In other words, they’re safer and sturdier. They are also less “mobile” than the old mobile homes. Most are installed with a more permanent foundation, and only 5% are moved after the original installation, according to the Inter­national Association of Certified Home Inspectors.
  • What is a "Modular Home"?"
    Modular homes are basically souped-up manufactured homes. Several “modules” are built in a factory, transported to the site, then assembled with a crane. The assembly process is more involved than with a manufactured home and usually requires oversight by a contractor. Unlike manufactured homes, modular homes are highly customizable and can even have multiple stories. When finished, modular homes look almost identical to houses that are built on-site. They also follow all of the same building codes, and it’s easier to secure bank financing for one.
  • How can I check my credit report?
    No matter what type of house you plan to buy, the first step is always checking your credit reports. The goal is to identify any weaknesses or reporting errors in advance so you have time to resolve them. When applying for a loan, lenders use various factors (including your credit score) to assess how “risky” a borrower you are. The less risky you are, the better the interest rate and loan terms you’ll receive. This can make a significant difference in the total price you’ll pay for the loan. To get started, here’s how to check your credit score for free: https://moneywise.com/managing-money/credit-score/how-to-get-a-free-credit-score
  • Do you need land for your mobile home?
    You can also ease your lender’s fears by choosing a more permanent home. Lenders are more likely to approve financing for a mobile home if they don’t have to worry about you packing up and taking off with their collateral. If you own the land and plan to permanently install your mobile home on it — that is, take off the wheels — that can open up more options for financing.
  • What are the requirements of your mobile home?
    The type of mobile home you choose will affect where you can live and how you can finance it. To avoid wasting time, familiarize yourself with all local requirements before you start mobile home shopping. Most requirements refer to a mobile home’s size, age and location. Size The size you choose not only affects the price but also how you can finance the home. There are three main classifications: A single-wide comes in one piece, is less than 18 feet wide and has one or two bedrooms. A double-wide comes in two pieces, is wider and oftentimes shorter than a single-wide, offers a more flexible floor plan and has two or three bedrooms. A triple-wide, or “multi-wide,” is made of three or more units and is often indistinguishable from a traditional home. While single-wide mobile homes are the most affordable, it can be tricky to find financing. Some may even be classified as a vehicle and won’t qualify for a mortgage at all. Many towns also have land restrictions that prohibit single-wide mobile homes within city limits. New or used Unlike traditional real estate that usually appreciates in value over time, mobile homes tend to depreciate. This means you can often pick up an older mobile home at a bargain price. But before you pull the trigger on an old mobile home, take the time to investigate any age restrictions for the lot where you plan to install it. Some mobile home parks have restrictions on older homes, and it would be unfortunate to buy a home and later find out you have nowhere to park it. Location When buying a mobile home, don’t forget to investigate your future neighborhood. If you plan to buy land, make sure mobile homes are allowed on it. As mentioned earlier, many towns have zoning restrictions that prohibit certain types of mobile homes. You should also confirm that you’ll be able to hook up to utilities on the property. If you will be renting land in a mobile home community, do some recon beforehand to ask about available plot sizes and any other community-specific regulations.
  • What are all of my loan options?
    Your financing options will vary based on the mobile home you want to purchase. Much of this will depend on whether your mobile home is classified as “real” or “personal” property. For example, if it is classified as a vehicle (i.e., you pay fees to the DMV), you won’t be able to get a traditional mortgage and will have to use an alternative loan. Depending on your personal circumstances and the type of mobile home you choose, your main financing options will be: A conventional mortgage An FHA loan A USDA loan A chattel mortgage A personal loan
  • How to finance a mobile home
    Conventional mortgages Conventional mortgages are available only for manufactured homes classified as real estate. In most cases, these types of mortgages are backed by either Fannie Mae or Freddie Mac. These government-sponsored mortgage giants both offer loans that require a down payment as low as 3% and work much the same as loans for traditional homes. These loans typically have a lower interest rate compared to other mobile-home financing options, but they also have some of the most stringent qualifications. In most cases, you must buy both the manufactured home and the land it sits on. The home also must meet strict eligibility requirements similar to those of an on-site home. FHA loans The Federal Housing Administration (FHA) insures two types of loans that can be used to purchase mobile homes. Each FHA loan has its own set of requirements. FHA Title I Program: Title I loans require a minimum down payment of 5% and can be used for personal property (i.e., manufactured homes classified as vehicles). If you don’t own land, you will be required to sign a three-year lease on the lot you choose to rent. The downside to these loans is that limits are placed on how much you can borrow. These limits are: Manufactured home and lot: $92,904 Manufactured home only: $69,678 Lot only: $23,226 Unless you buy used, this will most likely limit you to a single-wide. FHA Title II Program: Title II loans are for real property only and require you to purchase your manufactured home together with a plot of land. If your credit score is at least 580, you may be required to put only 3.5% down. Similar to FHA loans for traditional houses, you’ll need a minimum credit score of 500 (this may vary by lender) and you’ll be required to pay mortgage insurance premiums. USDA loans USDA loans are available to low- and middle-income borrowers in rural and suburban areas. These mortgages are guaranteed by the United States Department of Agriculture and require no down payment. Manufactured and modular homes can be financed through the USDA’s Single Family Housing Guaranteed Loan Program but need to follow a number of restrictions. Among other requirements, your new home must: Be a new unit that has never been installed at any other location. Have a floor area of not less than 400 square feet. Be placed on a permanent foundation in a USDA-approved rural area. Chattel mortgages A chattel loan is similar to an auto loan and is one common financing option that doesn’t require you to buy land. These loans require a 5% down payment. And while they typically have higher interest rates than conventional loans, they are usually better than a personal loan because you’re still putting up your manufactured home as collateral. Chattel loans have shorter terms than conventional loans, so you’ll likely end up with higher monthly payments. This may be challenging on a tight budget, but if you can afford it, you’ll pay off your debt faster. Personal If none of the above options work, a personal loan might be your best choice. Personal loans are convenient because they don’t require property approval. That means it doesn’t matter if the mobile home you’re buying is old, in questionable condition or still on wheels — you can still get it financed. Securing a personal loan is usually a quick and painless process, compared with a mortgage loan. Your lender will base its terms on your creditworthiness and financial history, and you can often have the money within a week. Since the property isn’t used as collateral, you also won’t risk losing it in a foreclosure. That said, there are a couple of disadvantages. First, your interest rate for an unsecured personal loan could easily be double that of a home loan. Second, you’re limited in how much you can borrow. Many personal lenders cap loans at $50,000. That said, if you have a strong credit history, you may be able to find one willing to bump it up to $100,000.
  • How to qualify for mobile home financing
    To qualify for mobile home financing, you’ll need to prove to lenders that you are capable of repaying a loan. That means: Building your credit score: The higher your credit score, the easier you’ll qualify for a good loan. Minimizing your debt-to-income ratio (DTI): A low DTI shows lenders you’ll have plenty of money left over at the end of the month to make your loan payments. Increasing your down payment: Saving for a larger down payment not only lessens the lender’s risk, but it also shows them you know how to manage money responsibly. Showing two years of steady income and job security: Lenders don’t like change. They want proof you’ll be able to reliably pay your bills. By focusing on these areas, you’ll not only maximize your chances of qualifying for a loan, but you’ll also secure the best interest rates possible. This can lower your monthly payments and save you thousands of dollars over the length of the loan.
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(877) 365-3376

CONTACT US

We are located at 205 SE Spokane St., Ste. 300 Portland, OR 97202

River Park Center
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