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Manufactured home loan programs

Our loan programs for manufactured housing are designed through careful study and analysis of the needs of our members and market conditions. All loan programs offered are simple interest, fixed rate installment loans with no prepayment penalties. Please find a brief explanation of our programs:

Standard Fixed Rate: The Standard Fixed Rate Program has one payment amount for the entire term of the loan which is based on the fixed rate you qualify for at the time of application. This is a common loan program that many individuals are familiar with.

Important features and benefits of the Standard Fixed Program

  • One great rate for the entire term

  • Security of the loan payment not changing

  • Great choice if you plan to live in your home for a number of years

  • There is a mandatory escrow or impound account for this program

  • Lower rates available with loan to values under 65%
     



One-Step Fixed Rate: The One Step Fixed Rate Program, like the Standard Fixed Rate Program,  offers a simple interest, fixed rate installment loan with no prepayment penalties.

The difference is that the One Step Rate Program’s monthly payment will change after the first five years of repayment unlike the Standard fixed Rate. The graduated rate is predetermined and in many cases lower than the standard fixed rate.

The One Step Fixed Rate Program allows the borrower to increase their equity position more rapidly during the first five years of the loan in comparison to the Standard Fixed Rate Program.

Important features and benefits of the One-Step Fixed Rate Program

  • Extremely low rate for the first 5 years

  • Builds equity in your home more rapidly

  • No prepayment penalties

  • Rates and payments will be determined at the time of closing - No surprises

  • Less interest paid to the lender than Standard Fixed Rate

  • Not an ARM or a Variable Rate loan

  • Lower rates available with loan to values 65% and under