WHICH LOAN TYPE IS RIGHT FOR YOU?

Lone Star Modular Homes can  help you with sourcing, understanding, and setting up your modular home financing. Your Lone Star Modular Home can be financed through a construction loan, which will convert into a traditional home loan (mortgage) once construction is complete. Our lending partners can finance not only these construction costs, but also the land purchase.

FHA HOME LOANS

Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An FHA down payment of 3.5 percent is required. Borrowers who cannot afford a traditional down payment of 20 percent or can’t get approved for private mortgage insurance should look into whether an FHA loan is the best option for their personal scenario. People who have low or bad credit, have undergone a bankruptcy or have been foreclosed upon may be able to still qualify for an FHA loan.

  • Low Down Payments
  • Lower Credit Score Requirements
  • Higher Debt-To-Income Ratios

To get pre-qualified now, just fill out the form below, and one of our lending partners will be in touch shortly.

VA HOME LOANS

The VA Loan program is the most powerful home loan program on the market for many veterans, service members and military families. These flexible, government-backed loans come with significant benefits that open the doors of home-ownership to veterans who might otherwise struggle to obtain financing.

VA loans require no down payment or private mortgage insurance. They feature competitive rates and terms and allow qualified borrowers to purchase a home with little to no money out of pocket.

  • No Down Payment
  • No Private Mortgage Insurance
  • Lower Interest Rates

To get pre-qualified now, just fill out the form below, and one of our lending partners will be in touch shortly.

USDA HOME LOANS

USDA stands for United States Department of Agriculture. In the past, USDA Loans were considered “farm loans”, mostly used to purchase properties in agricultural areas. That is not the case with today’s USDA Loans. In fact, properties in almost every area of Texas outside major metropolitan areas can be purchased with a zero-down USDA Loan today.

  • No Down Payment
  • Low Cost Mortgage Insurance
  • Lower Interest Rates

To get pre-qualified now, just fill out the form below, and one of our lending partners will be in touch shortly.

CONVENTIONAL HOME LOANS

Besides the government backed loans mentioned above, our modular homes also qualify for standard conventional mortgage loans. With a conventional loan, which includes both conforming and non-conforming loans, you can get your hands on pretty much anything from a 1-month ARM to a 30-year fixed, and everything in between.

So if you want a 10-year fixed mortgage, or a 7-year ARM, a conventional loan will be the way to go. Conventional mortgages also aren’t capped at a certain loan limit, assuming they are non-conforming.

Our lending partners will be able to tell you the types of loans you would qualify for, and determine which will cost less both short and long-term. Ask for a side-by-side cost analysis.

To get pre-qualified now, just fill out the form below, and one of our lending partners will be in touch shortly.

GET PRE-QUALIFIED TODAY

Get an Estimate of Your Buying Power

Being prepared is one of the smartest things you can do to help the home buying process run smoothly. Getting pre-qualified for a mortgage gives you an idea of what your loan program and the amount you could borrow might look like in advance. This can give you a big advantage at different stages of your house hunt by helping you prepare your budget and set your expectations.