A real mortgage for your manufactured home
Two special loan programs:
Down payment and closing cost help for low-income homebuyers
Low down payment, interest rate, loans in select ROCs
We know how hard it is for owners and buyers of manufactured homes to find fixed-rate, long-term mortgage loans.
That’s why we offer Welcome Home Loans to owners and buyers of manufactured homes (sometimes called mobile homes) who have, or who want, the security of living in a resident-owned community or on their own land in New Hampshire.
In addition, we offer Your Turn homebuyer assistance for low-income people and families who are trying to buy homes.
- Single-family first-mortgage loans for purchase, refinance or home equity
- No limit on age of house
- No minimum credit score required, but satisfactory record of repayment on past credit needed
- Borrower must have a stable income and show that they will be able to repay the mortgage
- Minimum down payment of 5%; at least 2% must come from the borrower, the rest can come from gifts or from the seller
- Income from self-employment is accepted
- Fixed interest rate; current interest rate is 8.875% (Annual Percentage Rate of 8.953% with a $100,000 loan amount, $5,000 down payment, 30-year term, no points*).
- Terms from 5 to 30 years
- No private mortgage insurance required
- Appraisal required
We will lend up to:
- 95% of the lower of the purchase price or appraised value for a purchase mortgage loan
- 95% for the refinance of an existing mortgage loan, and
- 85% of the appraised value for “cash out” refinances and home equity loans
How to apply:
- Contact one of our Mortgage Loan Originators, Ron Thompson or Pam MacDonald (information at upper right of this page). We'll answer all of your questions and provide a free, no-pressure consultation, including a review of the terms of your current loan (if you have one).
- Download our mortgage application package (see button above). Read the checklist on the first sheet carefully, then print, fill in and sign the one-page General Authorization and the four-page Loan Application. Mail the General Authorization, Loan Application and all other checklist documents that apply to you, to NH Community Loan Fund, 7 Wall St., Concord, NH 03301.
* Your actual rate, payment, and costs could be higher. Get an official loan estimate before choosing a loan.
New Hampshire Community Loan Fund Inc. NMLS ID 253893. Licensed by the New Hampshire Banking Dept.