Financing


#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