Timberline is affiliated with many different finance sources and while each customer is different we want to place the customer with the bank that best fits their profile. Financing is ever changing and new programs are introduced. Some of the programs that are currently offered are described below.
Home Only or Chattel – This type of loan is when the customer is buying the home by itself without using land. This type of financing typically requires a down-payment of at least 5% of the price of the home (incl. tax). A higher down-payment will result in a lower rate of interest and may increase your ability to buy your home.
Land-in-lieu – This type of loan is similar to a Chattel loan only you may use owned land in lieu of a cash down-payment. You may also use a combination of both land and cash for your down-payment.
Land-Home – These loans are for the purpose of combining your owned land or land that you wish to purchase with the manufactured home that you are buying. In this case a mortgage would be filed and property taxes will be assessed annually. The benefit of this type of loan is that customers with mediocre credit may be able to qualify. The land-home process generally takes longer than other types of loans.
These are just a few of the lending opportunities available at Timberline. Please call one of our sales centers to obtain additional information about a loan that might fit your needs.
|
