Loan Qualification

 Online application needs to be completed, income and indentification is verified along with a full credit check.  Be sure all questions are completed on your credit application. Missing information could delay the application process.  A qualification is provided within 24-48 hours after receipt of your application and credit authorization. 

With your qualification your Sales Agent will help find you a home that fits in your qualification.  They will prepare an offer and submit to the Seller's Agent.  Once an offer is accepted by the buyer and the seller, the purchase agreement is signed by both parties .

 Your sales agent will open escrow with a company that specializes in the unique title transfers for Mobile/Manufactured Homes. All deposits are required to be placed in escrow within 72 hours after contract acceptance. 

With the accepted contract the loan approval is secured, at this time your rate is locked.  The loan terms will be provided to you along with a list of all verifications required.  Approval letter contains details of the verifications necessary for the lender. Lender must review and clear all the conditions before loan documents can be ordered.

Appraisals protect buyers from paying more than a home is worth. Following the acceptance of loan terms, an appraisal is ordered, this process takes 10-14 days, it must  be ordered right away to make sure you meet your agreed upon contingencies. This is done by an independent appraisal company, and must be paid for at the time of the appraisal. Loans are approved subject to the appraised value of a home.

Documentation is required for your loan be completed.  Your Approval letter will contain details of the verifications necessary for the lender. Lender must review and clear all the conditions before loan documents can be ordered. 

 You must obtain the park application and submit the application to the park. The park may require an interview at the time of application or after approval. The park managers will review the lease agreement with you. A deposit may be required.  Generally, this should be completed in the first 5 days, per your contract.  Verify this with your Sales Agent.

Your agent will meet with you to carefully present and review all disclosures regarding the home you are purchasing.  Health & safety and Natural Hazard inspections are ordered for consumer protection. Other repairs may be ordered in accordance with the contract terms. 

Insurance is required if you have a loan on your home. There are many options available, insurance will need to be selected prior to loan documents. 

About three days before escrow closes, you must bring in the balance of the down payment plus closing costs, in the form of a cashiers check or a wire and sign final escrow instructions. All buyers sign, including co-buyers. You will be notified when and where to go for signing 3rd party Notaries may be available to you as an option for more conveniently signing document, ask your agent.

When you go to sign escrow instructions you will also sign loan documents. The escrow officer or notary will go over the documents with you and answer any questions you have. Escrow will send the signed original loan documents to the lender for review.  

 Once your documents and all loan conditions have been accepted by the lender, money will be sent to escrow. Upon receipt of the funds, closing paperwork is completed and money is distributed to all parties concerned. At this point, escrow is closed and keys may be picked up.