How to apply for a purchase, refinance or equity loan for a manufactured home

Ziggy and Pat Zeveckas, Welcome Home Loan borrowers


Download our mortgage application package.

Who is eligible for a Welcome Home Loan?

Welcome Home Loans are real, fixed-rate mortgage loans for manufactured homes located in New Hampshire, when the homeowner owns the land or when the house is located in a resident-owned community.

Borrowers must have a stable income and show that they will be able to repay the mortgage. Borrowers should have a satisfactory record of repayment on past credit, but no minimum credit score is required.

What types of loans are available?

Fixed-rate loans for purchase, refinancing and home equity for home repairs and energy-saving upgrades.

Is there any restriction on the age of the home?

No, the age of the house doesn't matter.

What down payment is necessary?

Down payment for a purchase loan can be as small as 5% of the purchase price. At least 2% must come from the borrower; the other 3% can come from gifts or from the seller.

What interest rate and loan terms do you offer?

Our current interest rate is 8.875% (Annual Percentage Rate of 8.903% with a $100,000 loan amount, $5,000 down payment, no points). Loan term can be as long as 30 years.

What are your closing costs and other fees?

We charge a $25 credit report fee for a single applicant (one person) or a $30 credit report fee for joint applicants (two persons) that must be paid at the time of the application. There are no other application fees.

Closing costs run approximately $1,700 to $2,400 and cover an appraisal, loan origination fee, title insurance, recording fees, tax stamps, and attorney fees, among other items.

In addition, you’ll be asked to make a deposit into an escrow account to be used for your first real estate tax and homeowners insurance bills.

How do I apply for a loan?

Contact Mortgage Loan Originators Ron Thompson or Rich Lacourse (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).

Then, download our mortgage application package (see box 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, along with your check for the credit report (see #10 on the checklist), to NH Community Loan Fund, 7 Wall St., Concord, NH 03301.

I need more information …

No problem! Contact Mortgage Loan Originators Ron Thompson or Rich Lacourse.

Equal Housing Lender logo

New Hampshire Community Loan Fund Inc. NMLS ID 253893. Licensed by the New Hampshire banking department. Equal Housing Lender.