MOBILE HOME LOANS
JCF Lending Group a manufactured
& mobile home lender was founded in 1994 with
the sole purpose of providing manufactured &
mobile home loans Nationwide. JCF Specializes
in Chattel Mortgages, a term used when referring to a loan on a
Mobile or Manufactured Home where the land is not a factor and only
the Mobile Home will be financed. JCF is a home only
lender and proud of it. JCF is here for you, providing
the best rate & term mobile home financing loan available
today.
The majority of our customers
live in mobile home parks or in leased lot communities. You may
also qualify for a JCF Lending Group mobile home
loan if your home and land are not tied together by deed
or title. We also may be able to provide manufactured
home finance if the home sits on a relatives land.
We are able to
offer the lowest mobile home loan rates possible, along with a
variety of mobile home loan programs to meet the needs of a Nation.
From California to New York, Texas to Washington, JCF has a great
program for you. We will easily guide you through the home loan
process, providing you with whatever level of service you require.
We offer fixed and variable rate home financing, No Pre-Payment
Penalties, No Application Fees and we are Proud to be an Equal
Housing Lender since 1994. Always striving to provide the lowest
rate & fee combination possible.
We will provide the
quickest loan approval possible, sometimes within 15 minutes and
let you know exactly the manufactured or mobile home loan we can
offer. Then it's up to you to make the decision. We are open from
7:00 AM - 7:00 PM PST, Monday thru Friday, and on Saturdays 8:00 AM
- 3:00 PM PST. You can reach us toll free at (800)
397-7533. We also have
"Live Help" operators
standing by 24/7,
helping both existing and new customers get the answers to the
questions they may have, all in real time. No waiting on
email.
MOBILE
HOME FINANCING
Need mobile home financing - Whether you are considering
buying a used mobile home or buying a new manufactured Home, JCF
Lending Group will find a mobile home
mortgage that's right for you. The type of mobile home
financing loan received depends of several different factors, the
year of the mobile home and current value is a strong factor, as is
the credit of the applicant and the monthly
Income. When you think
of mobile home financing, think JCF.
Once
the mobile home financing loan is approved, the amount of the down
payment determines the interest rate offered. As an example, a 10
or 20 percent down will offer a better rate than 5 Percent Down.
Our terms vary from 7 years to 25 years, depending on the loan
program you choose. The best manufactured home financing
rate can normally be obtained in most cases
with at a 10 year term. It is important to remember that the
shorter the term. the less interest you will pay in the long
run.
MANUFACTURED HOME
REFINANCING
Need
manufactured home refinancing - By adjusting
your current Interest Rate and the number of remaining loan
payments, many things can be accomplished. Savings can be great and
long term savings even better. Reduced monthly payments and
thousands of dollars of savings are a few of the possible benefits
of mobile home refinancing or that low rate manufactured home
loan.
If the
manufactured home is in good condition and there is a sufficient
amount of equity in your home, additional options such as an equity
cash-out and debt consolidation manufactured home mortgage can be an option.
Our Staff will quickly ascertain whether manufactured home refinance will be
beneficial. Our goal is to make sure each and every customer is
offered the right mobile home finance option.
MOBILE HOME LOAN
FAQ'S
Q:
What Types of MH Homes Qualify for Financing?
A: JCF Lending Group finances mobile homes, broken into three
categories, manufactured homes, modular homes and park "RV" models.
We can finance single and multi-section homes as follows, single
section homes can be no older than 20 years. Multi-Section homes
can be no older than 1977, with the exception of California, where
the multi-section homes can be 1970 & newer. All homes must be
in good condition, and must not need major repair, to include
roofing, skirting, siding and carpeting. The home must have been
previously titled and cannot be a brand new home being sold by a
dealer. If the home must be financed and then moved, we are not the
lender for you.
Q:
What About Consumers with Poor or Fair credit?
A: Unfortunately, our low rates do not allow for us to make
risky loans. But it is also important to understand why. Recent
studies have shown that Seventy percent of homes that have been
repossessed in recent months have been owned by people in the
sub-prime category, those people with fair to poor credit records.
Of the 7,000 repossessed in the last three months, nearly 5,000
were on sub-prime mortgages. Those figures jump dramatically when
you look at a two year time span. Nearly 90% of poor credit
mortgage holders will be seriously late or will have gone into
collection on their home mortgage.
Q:
I Have Bad Credit. Can I use a Co-Signer with JCF Lending
Group?
A: No. Every applicant must meet our credit criteria. We
would caution potential consumers looking for this solution, as
most upscale parks and leased lot communities will not grant
approval for residency for consumers with a poor credit history.
Normally, all occupants over the age of 18 that plan to live in a
mobile home park or leased lot manufactured home community, must
pass both a credit and criminal background check.
Q:
Does JCF Offer Land & Manufactured Home Financing?
A: No. JCF Lending Group is a manufactured home only lender.
If there is land or acreage involved in your transaction, we are
not the lender for you. JCF is not licensed to finance land or the
combination of land and manufactured home. We can only finance the
home when it has not been deeded together with land. Most of our
customers live in mobile home parks, manufactured home communities
or rented/family land situations.
Q:
My Mobile Home is in a Park and/or on leased land, Can You
Help?
A: Yes. JCF
specializes in this type of manufactured home financing and/or
loans. In fact, this is what the name of our URL
(www.chattelmortgage.net) means, a loan for a home not attached to
property by way of deed or title. We offer the lowest rate &
fee combination Nationwide.
Q:
Does JCF Finance Brand New Homes coming from a Dealer?
A: No. There are several reasons why we do not finance brand
new homes from dealers. First and foremost, our approvals are only
good for 60 days. Normally, it takes between 90-120 days to have a
home built and delivered. Our approval would not be valid at the
time of delivery. Second, the dealer is responsible for any and all
warranties, either written or implied. When a lender agrees to
finance a brand new home, they are, as well, bound to any promises
made by the dealer. If the dealer goes out of business or does not
fulfil their obligation, the lender must do this. Finally,
reputable dealerships have contracts in place with lenders that pay
the dealership for application origination.
Q:
Can I obtain 100% Financing for a Manufactured Home?
A: No. We require a minimum 5% down payment on all purchase
transactions. We should be clear that a 5% down payment will not be
acceptable in all cases. The final determination if a 5% down
payment will be sufficient will be determined by either an Advanced
Book Value Report or an appraisal. The year of the home determines
the maximum LTV or loan to value of the home in question. Homes 15
years and newer should qualify for the 5% down payment program, but
in some cases, an older home will qualify for this program as well.
For example, a 1982 home that appraises for $100,000, but the sales
price is $50,000, should qualify for the 5% down payment because of
the equity involved. The appraisal or book value report can offset
the needed down payment either positively or
negatively.
ABOUT JCF LENDING
GROUP
Located in
Las Vegas, Nevada, JCF Lending Group specializes in the financing
and refinancing of mobile, modular and manufactured home loans and
mortgages Nationwide, with specialized programs in 42 States. JCF
is recognized as the first lender and/or originator to provide
refinance loans for manufactured home owners living in mobile home
parks and leased lot manufactured home communities in the Western
United States. Prior to JCF, manufactured and potential mobile home
owners could only rely on Two major sources of purchase financing,
Green Tree and Security Pacific Bank, both high rate lenders
treating mobile & manufactured homes as high risk investments.
At JCF Lending Group our mission is to provide the very best mobile
home loan that your good credit deserves, one customer at a time.
We treat each customer as we ourselves would wish to be treated,
building one relationship at a time.
JCF is a
unique lender in that we only finance the manufactured, mobile, or
modular home, not the land it sits on. The majority of our
customers live in mobile home parks and leased lot manufactured
home communities. We also provide financing to homeowners living in
a manufactured home where the home is on leased, rented, family or
owned land, where the home is considered personal property, not
deeded to the land which is real property.
JCF is also
proud to offer our Star One Program, which means that a consumer
can apply with JCF, be approved or declined and have their
certified credit report sent either by fax or email to any other
lender free of charge, keeping a consumers score from dropping due
to excess inquires. Another aspect of this program is our low rate
guarantee, we will match or beat any other lenders written offer on
a comparable finance product. Finally, in the event that we are
unable to assist an applicant, JCF will do the research to find out
who can meet the customer(s) needs. Powerful reasons for both
consumers and employees to put their trust in JCF lending Group, an
Equal Opportunity Employer and Lender. We our proud to provide
mobile home loans and mortgages in the following States;
ALABAMA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, DELAWARE, FLORIDA, GEORGIA, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS,
KENTUCKY, LOUISIANA ,MAINE, MARYLAND, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW
JERSEY, NEW MEXICO,
NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH,
VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN AND WYOMING.
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