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Manufactured Housing

New Penn Financial is pleased to announce that our Standard Conventional and FHA programs now offer financing for Manufactured Housing.

New Penn Financial is pleased to announce that our Standard Conventional and FHA programs now offer financing for Manufactured Housing.

All manufactured homes must have the original title surrendered in accordance with applicable state law and be titled and taxed as real property prior to closing for both Conventional and FHA loans. All loans must score Approve/Eligible or Accept through DU or LPA.  Product profiles have been updated and posted to the Loan Programs page.

Below is a brief summary of some of the highlights each program offers.

Conventional:

  • Primary Homes and Second Homes
  • Purchase, Rate-Term:
    • Maximum LTV 95%
    • Minimum FICO 660
  • Cash-Out:
    • Primary Only
    • Maximum LTV 65%
    • Maximum Term 20 Years
    • Consolidation of 1st and 2nd lien only
  • PUDs Eligible

FHA:

  • Primary Homes
  • Fixed Rate Only
  • Purchase, Rate-Term & Streamline: 
    • Maximum LTV 96.5%
    • Minimum FICO 660
    • Maximum DTI 50%
  • Cash-Out:
    • Maximum LTV 85%
    • Minimum FICO 660
    • Consolidation of 1st and 2nd lien only
    • Maximum DTI 50%
  • PUDs Eligible