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Frequently asked questions

  1. Does Credit Human lend in every state?
    Credit Human offers financing programs in all states except: AK, HI, VT, NH, ME, MA, CT, RI, NJ & MI.

  2. Does Credit Human offer programs for land home packages?
    We currently finance the manufactured home only, known as chattel financing. Our financing programs do not accommodate transactions that include land being used as the collateral.

  3. Do you finance modular homes?
    We do not have finance programs for modular homes. We only finance HUD code single and multi- section manufactured homes that are titled as personal property.

  4. What is the minimum credit score needed to qualify for your refinance or purchase programs?
    In general we require a credit score 660 or higher. There are some exceptions to this score, but the lowest score we can consider is a 650.

  5. Do you have a minimum or maximum loan amount?
    We do not have a minimum or maximum loan amount. Limitations can apply due to the loan to value or debt to Income ratio but there are no limits on our loan amounts.

  6. What amount would our member qualify for?
    We can determine if the member is a good match for our programs by completing a brief pre-qualification interview but to obtain a dollar amount that the member would qualify for, a home must be chosen. There are many factors in relation to age, size and monthly land costs, specific to the location of the home, which affects a member qualifying for amounts to be financed. Due to these varying factors we do not provide pre-approvals. See our guidelines by clicking here.

  7. What does my member’s debt ratio need to be?
    To qualify for a loan through Credit Human a member is generally required to have a debt to income ratio of 34/45. The (34%) is based on anticipated housing debts (home payment, taxes, Insurance and land or lot costs) divided into the member’s monthly income. The (45%) is based on the overall debts (new home payment, taxes, insurance, land or lot costs and all other current monthly debts) divided into the member’s gross monthly income.

  8. Does Credit Human offer co-signer programs?
    Credit Human doesn’t offer co-signer programs. Co-borrowers must live in the home with the same intended use as the member.

  9. Does Credit Human offer programs for investment and non-owner occupied homes?
    Credit Human does not offer programs for investment or non-owner occupied homes. We do offer programs for primary residences, vacation and second homes.

  10. What type of appraisal is needed for my member’s loan?
    Determination of value for a manufactured home can vary depending upon the location and type of home. If a manufactured home is located in a leased land community, there are 2 options in determining the value a comparable based appraisal or an NADA book value. The book value uses make, trade name, size and year built to determine a base structure value. A comparable based appraisal requires a licensed appraiser to research prior sales in the area that are similar in size and age to the subject property to determine a market value. When a home is located outside of a leased land community the value is subject to the NADA book value method only.

  11. When does the participating credit union receive their compensation?
    A check will be sent out from Credit Human after the loan has funded. Generally funds are received between 2-10 business days after funding.