New CountryPlace Mortgage Program Targets Manufactured Housing

Posted by Orb Staff on June 02, 2010 No Comments
Categories : Residential Mortgage

n, Texas-based [link=http://countryplacemortgage.com/default.aspx]CountryPlace Mortgage Ltd.[/link] has launched a new lending program designed to help community banks and credit unions provide home loans to buyers of manufactured homes. The Manufactured Home Community Lending Program focuses on providing conventional and Federal Housing Administration loans to buyers purchasing manufactured homes in rural and suburban areas. ‘By working with community banks and credit unions to provide real property loans for manufactured housing, we can help banks meet the needs of people in their communities who need housing in the low- to moderate-price ranges,’ says CountryPlace's national marketing representative, Bryan Chamberlain. Community banks and credit unions participating in the program will be able to assist their customers with home loans for new and resale manufactured housing that is classified as real property, as well as assist their customers who want to convert construction loans for the purchase and installation of manufactured housing into permanent mortgages, CountryPlace says. CountryPlace is initially targeting 18 states for the launch of the Community Lending Program. These state lists have been grouped into the following five regions: [list]Northwest – Washington, Oregon and Idaho;*Southwest – California, Arizona and New Mexico;*South Central – Texas, Oklahoma, Arkansas and Louisiana;*South – Mississippi, Alabama, Georgia and Florida; and*Southeast – North Carolina, South Carolina, Virginia and Tennessee. [/list] SOURCE: [link=http://countryplacemortgage.com/default.aspx]CountryPlace Mortgage

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