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Your SC loan officer will provide you with a list of items, called stipulations, that we will need you to fax or email to us. Once we have these items and your appraisal/inspection has been completed and cleared, we will be ready to close your SC mobile home financing loan. Unlike many financial institutions, our primary focus is on South Carolina mobile home park loan. We specialize in refinancing manufactured and mobile homes in mobile home communities and on land where the home and land are financed separate. That’s why at Mountainside Financial we are the South Carolina mobile home park loan specialist.
Mobile homes to do not qualify as it’s required that the home being financed was built after 1976. These loans also require that the manufactured home in question counts as real property. The manufacturedor mobile homes that we can finance in SC are considered personal property, not real property and/or real estate. These homes are titled through SC Department of Motor Vehicles, and all escrow and/or closing functions will be handled by us, not a 3rd party escrow company, as in real estate transactions.
CAROLINA MOBILE HOME LOANS BY
Mobile home loan rates in South Carolina are going to be slightly higher than other home loans, 2-3% higher on average. This is because the lender is loaning on a property that isn't fixed to land, and technically you could move the home without their knowledge. They may refer to the mobile home loan as a chattel loan - similar to loans on personal property.
Financing a mobile or manufactured home in South Carolina is a little different from financing a house because most lenders do not consider these homes eligible for most types of mortgage. We are a home only lender, and strive to provide you with the best loan and rate to fit your needs. Closing costs can be financed into the loan to reduce the need for additional out of pocket expenses. Normally only an inspection or appraisal will be your only out of pocket expense. Title II loans can be used to purchase both a manufactured home and the land it sits on jointly. These loans cannot be used in mobile home parks or on leased land.
South Carolina Manufactured or South Carolina Mobile Home In-Park Loans
We are also pleased to offer a free mobile purchase agreement along with South Carolina State Titling Forms. From singlewide homes in Myrtle Beach to a stick-built home in Columbia and everywhere else in The Palmetto State, eLEND is proud to offer home loans in the state of South Carolina. Mobile homes are becoming increasingly popular with the millennial generation and families looking for an affordable alternative. Not everyone can afford a traditional home however, for most it’s an affordable housing option that’s worth exploring in the current real estate market. A mobile home can be a great investment with the right financing. Take a look at all these financing options, consider the interest rates and what benefits they offer, and carefully decide which one is right for you.
We work for you & not the bank, and we offer wholesale mortgage rates, which are lower than retail rates. Not to mention, we offer a wide variety of loan options, so you are not stuck with one set of restrictive underwriting guidelines. Similar to a Title II FHA loan, if you want to buy a manufactured home and the land it sits on, you can also get a VA loan. VA loans are only available to veterans and qualifying active duty service members through the Department of Veteran’s Affairs.
Titling Your New Mobile Home
We will provide all closing instruments, to include a purchase agreement and South Carolina closing statements. JCF Lending Group has no specific foundation requirements in South Carolina. Chattel loan is a special kind of loan for mobile homeowners. This is the most popular financing option for mobile homes. This allows them to lease the lot on which their mobile home sits.
Before we talk about financing, we should clarify the difference between a mobile home and a manufactured home – because they’re often used interchangeably. A mobile home is a prefabricated home structure built on a permanent chassis that was constructed prior to June 15, 1976. 21st Mortgage Corporation specializes in providing financing to manufactured home buyers. In 1999 Cascade Financial Services began offering conventional financing terms that were previously unavailable to buyers ...
How To Finance A Mobile Home In South Carolina
If the South Carolina Manufactured Home is in good condition and there is a sufficient amount of Equity in your home, additional programs such as an Equity Cash-Out and Debt Consolidation can be an option. Our Staff will quickly ascertain whether South Carolina Mobile Home Refinancing will be beneficial. 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. All persons applying must live in the home with the exception of vacation homes. In the state of South Carolina, there is a $300 cap to the sales tax you owe if you buy an energy efficient mobile home.
The staff at Mountainside Financial can tailor your South Carolina mobile home loanquote to suit your needs. Once we lock you in at one of our low fixed interest rates one of our experienced loan officers will guide you through the closing process of your new South Carolina mobile home loan. We want you to be 100% satisfied with the service we provide you. The first step to a manufactured home purchase is finding a reputable dealer. Fortunately, the Manufactured Housing Institute of South Carolina offers a listing of all sellers who are licensed and bonded. They also include a region by region list of mobile home communities based on where you live .
JCF Mobile Home Solutions is a licensed mobile home dealer in the state of SC and is a leading authority on South Carolina Mobile Homes. Our love for the communities we live and work in is why we do what we do. Financing your mobile home is quite similar to financing a traditional options.
We offer both fixed and variable rate manufactured & mobile home financing, no pre-payment penalties, no application fees and we are proud to be an South Carolina Equal Housing Lender since 1994. Headquartered in Las Vegas, Nevada, JCF Lending Group specializes in the financing and refinancing of mobile, modular and manufactured home mortgages in all counties throughout the State of South Carolina. While not all lenders finance manufactured homes, some may offer Fannie Mae’s MH Advantage® program, which allows buyers to finance manufactured homes over 30 years with down payments as low as 3%. To qualify, however, your home will need to fit very specific criteria. We are a home only lender, providing South Carolina mobil home financing for homes not attached to real property by way of deed or title. We do not finance South Carolina mobil homes and land, just the South Carolina mobil home.
While not all lenders provide mortgages for mobile homes, some do, and they provide great service. The biggest advantage you get from applying for a mortgage is – you get qualified for notably lower interest rates, better repayment terms, and tax deductions. The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Sumter Board of Realtors. Listings held by brokerage firms other than Zillow, Inc are indicated by detailed information about them such as the name of the listing firms. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
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