Financing

Roberts Communities

Acquire a Loan Specific to Your Needs

Roberts Communities offers specialized financing for mobile home buyers designed to assist you in expediting the purchase of your new manufactured home.

We offer competitive rates with outstanding service on chattel mortgage loans, where your manufactured home serves as security for your loan. Therefore, your movable property, or chattel, guarantees the loan, and our lenders maintain conditional interest in your property until the loan amount is fully paid. At that time, you will then resume full control and ownership of the chattel (your home).

Down payments typically range from 5% to 15% of the selling price of the home, and loan terms are typically 15 to 25 years. Our friendly, knowledgeable sales consultants at each community are happy provide you with additional information unique to each location.

A Chattel Loan Safeguards the Asset of Your Home

A traditional home mortgage cannot be used for a manufactured home. The land for your new mobile home is almost always leased and doesn’t belong to you, the owner of the mobile home. Instead, your home is considered “personal movable property,” and thus, it is qualified for a chattel mortgage which serves as security for the loan. This financing arrangement remains valid even if the mobile home is moved to a different location.

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Manufactured Home

Roberts Communities Benefits

Processing Your Loan Has Never Been Easier

Our seasoned experts are happy to discuss your current goals and financial circumstances before moving forward with your loan application process. And now, as today’s tech-savvy buyers have come to expect a number of digital services at their disposal, Roberts Communities offers the benefit of applying for a home loan through our fully automated mortgage loan processing center.

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Our Modern, Web-Based Loan Application

Our custom, web-based loan application provides a smooth and simple interface to guide you through your application process, at your pace. What’s more, you can now utilize our loan application platform using your phone, tablet or home computer.

This secure, mortgage point-of-sale portal provides a web-based access point for you to interact with your loan process from start to finish using an “interview-style questionnaire, backed by visual cues to keep the application moving forward with ease. You can complete your loan application, upload supporting documentation, e-sign all disclosures, and monitor the status of your loan — all from a single, easy-to-use location.

Roberts Communities

Secure and Compliant Financing Portal

A Secure and Compliant Financing Portal

Our digital loan processing partner, Floify, employs the latest in bank-level encryption to ensure the security of all data that is entered or stored in the system. All borrower-facing mobile and desktop views are compliant with the Americans with Disabilities Act’s (ADA) Web Content Accessibility Guidelines (WCAG) 2.1 AA standard so that you can have peace of mind while utilizing this modern, digital mortgage processing platform.

Also, Ask About Our Red-Carpet Service Program!

Experience “Peace of Mind” with Our 5 Year Homeowner Service Contract

APPLY FOR A HOME LOAN

Banking Your Dreams

Manufactured Housing Finance Programs

Our in-house financing program distinguishes us from other lenders because of our great customer service. Our goal is to get you an answer as quickly as possible and provide any potential solutions to get you qualified.

Pre-Owned Home Purchase in approved

TX Manufactured Housing Community

Minimum credit score 450

  • Minimum down payment requirement
    $4,000 for single-wide home or $6,000 for multi-section home, regardless of FICO score.
  • DTI (debt-to-income) ratio up to 50% accepted.
  • All other conditions identified above for New Homes apply to pre-owned homes.

New Home Purchase in approved

TX Manufactured Housing Community

Minimum credit score 450

  • Loan Term
    23 years or less. Possible exception to 25 years on a case-by-case basis.
  • Down payment requirement
    Minimum down payment ranges from 5%-10% based on FICO score
    • 720+ = 5% down payment
      Possible exceptions for 5% down payment for FICO score less than 720 on a case-by-case basis.
    • 550-719 = 10% down payment
      Includes ITIN borrowers with no credit score
    • 450-549 = 15% down payment.
  • Two years of continuous employment. However, gaps are allowed up to 60 days if borrower provides explanation letter and is approved by SRH Capital.
  • One year of rental history verification.
  • No foreclosure, short sale or repossessions within the previous 2 years.
  • No derogatory rental history, housing collection or judgments within 2 years. One late payment allowed.
  • No new collections or judgments within 6 months, other than medical.

Fees

All loans are subject to the following list of fees

  • 2.9% loan origination fee
  • $32.95 credit report fee
  • $45.00 home appraisal fee
  • $9.00 flood determination fee
  • $97.00 life of loan tax fee
  • $55.00 titling/registration fee

We accept DTI ratios up to 50%

*Approval conditions are subject to change without notice. Additional requirements may apply based on individual circumstances.

Escrow for Property Insurance/Taxes

SRH Capital is required to escrow for homeowner’s insurance and property/personal taxes (if applicable). The first year’s insurance premium may be financed in or paid in full before closing. If home is located within a flood plain, applicant(s) will be required to also obtain a flood insurance coverage.

SRH CAPITAL LLC
16427 N. Scottsdale Rd., Ste. 400 Scottsdale, AZ 85254
512-809-9894
mhcprocessing@robertsrc.com
NMLS ID: 2678715

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