Financing Options Coming Soon!
Applying for Financing
It's as easy as 1, 2, 3!
- Click on the button below to start your new application to MDE Home Loans
- Fill out the fields to each section
- Then hit send when done.
#1 Modular Home Loan Program
30 Year Fixed Interest Rate
- Same Day Pre-Approval
- Quick Closings: 30-40 days
- Hassle Free Mortgage Process
- One Closing Construction Loan
- Combined 32 years of mortgage experience
- Closed over 5,000 mortgages combined
- Gold "Old Fashioned" Customer Service
How Citizens Bank Calculates LTV:
Lien on the land: $50,000
Cost of Construction: $300,000
Appraised value subject to completion: $440,000
Our LTV is calculated off the cost construct
Max loan amount: $352,200 ($440,000 x 80%)
Borrower funds needed: $0 + $2,200 can towards closing
How Most Lenders Calculate LTV:
Lien in the land: $50,000
Cost of Construction: $300,000
Total: $350,000
LTV is calculated off the total cost to construct-instead of Appraised Value
Max loan amount: $280,000 ($350,00 x 80%)
Borrower funds needed: $50,000
$350,000 - $280, 000
#1 New Construction 30 Year Fixed Rate
Modular Homes factory Direct
- One Closing within 60 days of application
- 12 month Construction Term
- Interest Only during Construction, fully amortizing for end loan at the same rate.
- No Builder Approval
- Portfolio Product
- No Down payment when borrower owns the land
- Maximum 90% LTV for Primary Residences
- Maximum 80% LTV for Second Homes
- Minimum Credit Score of 660
- Same day Pre-Approval
- Financing available in most states
- 10% down no PMI
- Dedicated team for construction loans
- Flexible underwriting guidelines for LTV, credit score and debt ratio
Meet your #1 Modular Home New Construction Mortgage Team
Debra Botulinksi
Mortgage Loan Originator
NMLS #460206
Mobile: (908) 400-8040
Office: (732) 383-1445
E-Fax: (844) 445-0942
Email: debra.botulinski@citizensbank.com
Site: https://lo.citizensbank.com/dbotulinski