Financing Options

Financing Options

Home Only Loan – No land needed 5 % down payment and a minimum credit score of 620. Parks, private and leased land are permitted.

Stated Income Loan – Self employed and can't verify income? 20 % down and a credit score of 680 and you might qualify? Land not required

Equity Loan – I you have credit problems and have 25%-40% cash down and no 21st mortgage or Vanderbilt foreclosures we can help. No land needed

VA Loan - 100% Financing. VA certificate, VA guidelines. This loan requires Land which can be purchased or deeded in your name. All improvements such as septic tanks, power, sewer etc can be financed into the loan with one low payment. Loan amount is based on appraisal

FHA Loan – Government backed loan that requires 3.5%-5% down that requires land or cash on hand. 580 minimum credit score required. Land, home, improvements can be financed in to one low fixed payment.

Conventional Land/Home – 20 % down payment, land equity or cash. 640 minimum credit score, all improvements can be included.

The Banner Program - This is a special finance program with customers that have 575-610 Beacon Scores called the "Banner Program". This is a program that is offered on certain new homes, must have 10% down payment and the home site must be on private property. Cannot use land as your down payment.

Buy For Program – 10%-20% down payment and a minimum credit score of 680, land not required. Limited credit or bad credit a relative could help with this loan.


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