Exploring Mobile Home Financing Options

In addition to building the best home on the market, Solitaire Homes offers multiple avenues of finance to purchase your new home. Simply put we want your business and work hard to offer you a program that fits your family's financial needs. We offer finance programs that fit all credit situations. Listed below are Finance Options that are typically chosen by Solitaire home owners:

  • Chattel Financing - This loan is a simple home-only purchase. This loan does not encumber one's land. Down payments will range from 5% - 20% depending on one's credit standing.
  • Cash - Some buyers may choose to purchase their home outright and pay cash.
  • Your Bank - This option allows you to work with your local bank and secure your funds. Your local Solitaire Dealer is more than happy to work with your local banker.
  • Land in Lieu Financing - Use your land as your Down Payment. Many customers choose this option in lieu of investing cash as a down payment. In this situation the land is collateral for the mortgage.Appraised values of the land do have a bearing on the down payment.
  • FHA/VA Mortgages - Solitaire Homes has the ability to assist you in securing a FHA or VA mortgage for your new home.


Qualifying For Financing

Credit
A lender will assess the credit profile of applicants. Credit scores and credit histories, for all borrowers, will play a part in the assessment.

Income
Borrowers will need to provide detailed proof of regular and predictable income. Employed borrowers will be required to provide W-2's and check stubs. Self- employed borrowers generally need to be prepared to provide two full years of tax statements. In some circumstances bank statements may be needed as well to document income.

Budget
Lenders will typically evaluate the debt to income ratios of a borrower. The objective will be to establish how the new obligation will fit with current obligations. This is done to insure that the payment is suitable for all parties.


Applying For Financing

Home Only Financing
At Solitaire, once a buyer has contracted for the purchase of a home, he will be provided with a credit application to complete. The completed credit application, together with a copy of the Purchase Agreement or Buyer's Order, is sent in to the lender for processing. Once approved, details such as interest rate, terms, and stipulations required to complete the borrowing transaction will be provided.


Programs For All Situations

We pride ourselves on placing customers into the home of their dreams. We realize that every credit situation is unique. We strive to offer a program that will fit your family's financial wants and needs. Now is the time to start the process of home ownership. Contact your local Solitaire Homes location to find out what program fits you best. We look forward to hearing from you.