{"id":678,"date":"2011-08-12T14:46:38","date_gmt":"2011-08-12T19:46:38","guid":{"rendered":"http:\/\/www.manufacturedhomepronews.com\/industryvoices\/?p=678"},"modified":"2011-08-12T14:46:38","modified_gmt":"2011-08-12T19:46:38","slug":"chattel-lender-lowers-rates-to-4-5-best-ever-for-home-only-manufactured-housing-loans","status":"publish","type":"post","link":"https:\/\/www.manufacturedhomepronews.com\/industryvoices\/chattel-lender-lowers-rates-to-4-5-best-ever-for-home-only-manufactured-housing-loans\/","title":{"rendered":"Chattel Lender Lowers Rates to 4.5%: Best ever for home only Manufactured Housing Loans"},"content":{"rendered":"<p>CU Factory Built Lending, has again rolled out a new loan product with eye-popping low rates for manufactured homes in leased land communities.  This leading industry\u2019s lender provided this out of their Seattle office.<\/p>\n<p>Their new floor rate is 4.5%.  This is a \u201cstep-up loan\u201d, not an adjustable rate loan.  The low starting rate is locked in for the first five years, then \u201csteps up\u201d to the higher rate for the remaining term at 7.25% fixed..  This lender\u2019s loan products are always fully amortized.  The terms are very flexible and not too difficult qualifying; for example, a guideline that there be no mortgage defaults.<\/p>\n<p>For example, a used 1980 multi-sectional in-community home-only could qualify with 10% down.  Assuming top tier credit, the applicant can get a 20-year loan at 4.75% for the first five years, and 7.5% for the remaining 15 years.  With 20% down, the start rate would be 4.5%, stepping up to 7.25% after 5 years.<\/p>\n<p>Better yet, for a 10-year loan, with 20% down, the first five years will be fixed at 4.5%, and the remaining years fixed at 6.25%.  The borrower may pay the monthly payment based on the higher rate, resulting in an accelerated principal reduction, and saving thousands in interest.<\/p>\n<p>We are told this new \u201cOne Step Program\u201d loan product is available in all CUFBL states. Cash-outs and refinances are also eligible, case-by-case.   In CA, the older \u201cpre-HUDs\u201d are eligible, but with a 1% rate adder.<\/p>\n<p>This will make financing new and used MH chattels much easier.  Our industry needs a good shot in the arm.  # #<\/p>\n<p><span style=\"font-size: x-small;\">post submitted by:<\/span><\/p>\n<p><span style=\"color: #000080;\"><span style=\"color: #000000;\">Dave Shanklin<\/span><br \/>\n<span style=\"color: #000000;\">Mobile Brokers Acceptance<\/span><span style=\"text-decoration: underline;\"><br \/>\n(<a href=\"tel:%28916%29%20962-7128\" target=\"_blank\"><span style=\"font-size: small;\">916) 962-7128<\/span><\/a><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CU Factory Built Lending, has again rolled out a new loan product with eye-popping low rates for manufactured homes in leased land communities. This leading &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"ast-button\" href=\"https:\/\/www.manufacturedhomepronews.com\/industryvoices\/chattel-lender-lowers-rates-to-4-5-best-ever-for-home-only-manufactured-housing-loans\/\"> <span class=\"screen-reader-text\">Chattel Lender Lowers Rates to 4.5%: Best ever for home only Manufactured Housing Loans<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[1],"tags":[773,775,776,777,779,778,128,770,656,774,782,24,771,129,780,781],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chattel Lender Lowers Rates to 4.5%: Best ever for home only Manufactured Housing Loans | Industry Voices<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.manufacturedhomepronews.com\/industryvoices\/chattel-lender-lowers-rates-to-4-5-best-ever-for-home-only-manufactured-housing-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chattel Lender Lowers Rates to 4.5%: Best ever for home only Manufactured Housing Loans | Industry Voices\" \/>\n<meta property=\"og:description\" content=\"CU Factory Built Lending, has again rolled out a new loan product with eye-popping low rates for manufactured homes in leased land communities. 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