Down Payment /
Cash to Close
Cash to Close
The Minimum Down Payment required is this percentage
What is 5%
The required employment history needed for Mobile Homes is this amount of years.
What is 2 years
Minimum Credit and Down Payment for ITIN Borrowers?
What is 600+ with 5% down
This credit score is the lowest you can go when financing a Mobile Home
What is 550+
Yes or No
Mobile Homes need to be in a community
NO. You can also purchase a mobile home with land too.
Are Rate Buydowns Allowed and who pays for them
Yes but the Seller Pays them. It is .25 bps for .25%
Overtime CAN be used but needs to be calculated for the borrower within how many years
What is 1 year.
NOTE: Commission is 2 years
Can we finance a borrower that is a W2 employee?
Yes, using a WVOE ONLY
Tradeline Requirements.
A. 3 Revolving Credits
B. 1 Installment loan (think car loan)
C. 12 months of Documented Rent (VOR)
ANY Answer was correct!
Yes or No
Business taxes need to be paid.
NO!
Yes or No
Closing costs can be rolled in to the loan.
Yes, As long as the Home appraises for the sales price or higher.
NOTE: Realtor fees, third‑party processing fees, lot rent, and third‑party escrow/notary fees cannot be rolled in
Yes or No
Bank Statement Loans?
NO.
*DAILY DOUBLE*
The two IDs needed specific to ITIN are these
ITIN Letter AND a Federal or State issued ID
The best available rate as of 8/11/26 for top tier credit with 5% down. (Your guess can be within .75%)
What is 8.77%
Average contract term requested
30 days to CTC + 10 days for Docs/Closing/Funding.
NOTE: These do not fund the same day
True or False
The state of Colorado allows borrowers to have an APR higher than 12%
False. The seller must give seller concessions to buy down that rate and get the APR below 12%
Yes or NO
Verification of Employment (VOE) Loans
Yes! We would collect this from the employer instead of paystubs and W2s
Yes or No
Can the borrower be self employed for less than 2 years?
NO
A borrower with a credit score below 600 would have to put this much down, percentage wise.
What is 10%
This specific date is the oldest home we can Finance (looking for month, date and year. closest to the year wins)
June 15, 1976