203(K) FHA Streamline Limited Repair Loan Program

We NOW Offers the FHA 203(K) Streamline Limited Repair Loan Program

for Manufactured Homes



This program allows homebuyers to finance up to an additional $35,000

to improve or upgrade their home.



Purchases & Refinances available



Standard FHA underwriting guidelines apply



For more information on FHA 203(K) Loans and our other programs for

Manufactured Homes call us today at 843-281-8108

How to get cash out of your manufactured home and have a low rate of interest to boot

If you own and/or are buying a manufactured home with land, it is very likely you have accumulated equity you can access.
In today’s market, there is a manufactured home friendly low rate mortgage program that allows you to borrow up to 95% of your home’s value. You can utilize the money for home improvement, debt consolidation, college tuition etc.
This type of refinance is termed a “cash-out” refinance.
The mortgage program is the FHA single family loan or 203B for short. FHA (Federal Housing Administration) is a part of Housing and urban Development (HUD). A part of HUD’s mission is to facilitate homeownership, particularly affordable homeownership. As such, the FHA mortgage does not have different credit standards, loan terms and loan to value ratios for standard site/stick built homes and manufactured homes. This is significant because all other mortgage programs for manufactured homes and land have stricter credit standards and much more restrictive loan terms and loan to value ratios. As an example, the other mortgage programs restrict the “cash-out” refinance to 65% of the value of the home as opposed to 95% for FHA.
If you have a manufactured home and land and are interested in getting cash out of your home, there are a few requirements that must be met for your home to be eligible:
• Home must be a multi-section/Doublewide or larger, and
• Home must have been placed on the property as a new home, and
• Home must be a 1976 model year or newer, and
• Home must have a foundation (perimeter wall, piers and anchors) that meet HUD’s foundation requirements. Many manufactured homes when initially sited were set-up to local codes. The vast majority of the local codes do not comply with the requirements set-forth by HUD. However, there are solutions in the market today that will retrofit a home and bring it into compliance with the HUD requirements and thus make the home eligible for FHA financing. The retrofit solutions are both cost effective and can generally be installed in less than one day with no disruption to the homeowner.

In addition to the ability to get up to 95% of your home value in a cash-out refinance, there are numerous other benefits if your home is eligible for FHA mortgage financing:
• Should you decide to sell your home, the pool of buyers who can purchase your home is increased significantly because the credit standards for FHA loans are less stringent than conventional mortgages and the down payment required to purchase the home is significantly less. FHA requires a minimum down payment/investment of 2.25%/3% (2.25% is the minimum down payment and the remaining .75% can be applied towards closing cost) whereas the requirement for conventional mortgage loans range from 5%-10%. As an example specific to the credit standards: A customer with a credit score of 620 has a good chance of purchasing the manufactured home and land utilizing a FHA loan. However, they would have no opportunity to purchase the home utilizing a conventional mortgage loan as their credit score would be significantly less than the minimum requirement of 660. This one example can give you a good indication of the difference in number of qualified prospective buyers between the two mortgage programs.
• When either buying or selling a manufactured home that is eligible for FHA financing, the seller can pay up to 6% for closing cost. This will significantly reduce the out-of-pocket investment needed from the buyer and subsequently make both the selling and buying of the home much easier.
• If a home is currently mortgaged with a FHA loan, the loan is assumable for a new buyer should the homeowner decide to sell the home.

MANUFACTURED HOME LOANS CAN BE EASIER THAN YOU THINK!!!

EQUITYACCESS MORTGAGE
SPECIALIZES IN FACTORY BUILT HOME LOANS
&
WE HAVE LOAN PROGRAMS FOR
HOMES WITH OR WITHOUT LAND

WE ALSO HAVE GREAT PROGRAMS & RATES
ON SITE-BUILT HOMES & CONDOS

GIVE US A CALL OR VISIT OUR WEBSITE TO LEARN MORE
843-281-8108
equityaccessmtg.com
LITTLE RIVER, SC

Forward this Email

WE SPECIALIZE IN MANUFACTURED HOME MORTGAGES IN NC & SC
&
WE WANT TO BE YOUR SOURCE FOR LOANS ON HUD FORECLOSURES

OUR LOAN PROGRAMS INCLUDE FHA, VA, RURAL DEVELOPMENT HOUSING & CONVENTIONAL LOANS

“I would like to say Thank You to EquityAccess Mortgage. Not only were they able to help my clients obtain the home they liked and could afford, they made the purchase process extremely easy. Will I use EquityAccess again? YOU BET!! I’m looking forward to the next successful transaction already!” - Beth Ross, Carolina Pines Realty (Surfside Beach, SC)

“Working as a Realtor I know how difficult it is to help a client acquire financing for a home purchase, especially a young first time buyer. EquityAccess Mortgage worked with my referral and myself every step of the way and we are so pleased with the service we received. Your response time to any questions or concerns was immediate and the staff should be commended for a job well done! I look forward to working with EquityAccess Mortgage in the future!” - Lois Akers, ReMax at the Lake (Lake Norman, NC)

CHECK OUT OUR WEBSITE
www.equityaccessmtg.com
866-573-8010

WE OFFER A WIDE VARIETY OF LOAN PROGRAMS FOR MANUFACTURED HOMES

“I would like to say thank you to EquityAccess Mortgage. Not only were they able to help one of my clients obtain the home that they liked and could afford, they made the purchase process extremely easy. Their Can Do Attitude and positive spin on everything helped make an often stressful time, easier to contend with.”

“Will I use EquityAccess Mortgage again? You Bet!! They will be one of the three I always recommend. I’m looking forward to the next successful transaction already! Thanks again!” - Beth Ross, Carolina Pines Realty (Surfside Beach)

843-281-8108 / 866-573-8002
LITTLE RIVER, SC

FHA & VA LOANS FOR MH & SITE-BUILT HOMES - EQUITYACCESS MORTGAGE

FHA & VA LOANS
MANUFACTURED & SITE-BUILT HOMES

EQUITYACCESS MORTGAGE

THE ROAD LESS TRAVELED IS OFTEN THE EASIEST PATH.
FHA OR VA COULD BE YOUR CLIENT’S PATH TO HOME OWNERSHIP.

“Thank you for getting us to closing (on our new home). You are so helpful and considerate. Thanks for everything.” – Mr. & Mrs. Wasula (Myrtle Beach – 4/2008)

Government backed mortgage programs such as FHA & VA offer fantastic ways to purchase a home for less investment & cost.
EquityAccess Mortgage specializes in both FHA & VA Home Loans that allow more homebuyers to qualify & afford that special home.

CALL US TODAY & GIVE US THE OPPORTUNITY TO SHOW YOU HOW WE CAN HELP OPEN THE “ACCESS” FOR YOU AND YOUR HOMEBUYERS TO PURCHASE THAT SPECIAL HOME
WE SPECIALIZE IN MANUFACTURED HOME LOANS

843-281-8108 / 866-573-8002
equityaccessmtg.com

WOULD YOU LIKE TO
REFINANCE YOUR
MANUFACTURED HOME LOAN &
SAVE $$$

EQUITYACCESS MORTGAGE
LAND/HOME LOANS INCLUDING
CASH OUT REFINANCES WITH
LOW FIXED RATES & LOW CLOSING COSTS
THAT CAN BE INCLUDED IN
YOUR NEW LOAN

CALL TODAY FOR A FREE
LOAN ANALYSIS
866-573-8002
WE ALSO HAVE PURCHASE PROGRAMSWITH LOW DOWN PAYMENTS

DOWN PAYMENT ASSISTANCE

GET YOUR CLIENTS INTO THEIR NEW HOME WITH NO DOWN PAYMENT OUT OF POCKET
WITH GIFT AGENCY DOWN PAYMENT ASSISTANCE*
STANDARD MORTGAGE RATES WITH REASONABLE CLOSING COSTS

Little River, SC
843-281-8108
866-573-8002
www.equityaccessmtg.com

* approved client on FHA loan program

Thank you to all real estate professional that attended yesterday's FHA seminar

I just want to thank all the real estate professionals that attended our FHA seminar yesterday at the Carteret County Realtor Assocation main office located in Morehead City, NC. I hope you picked up some helpful information that will allow you to sell more homes. If you have any questions or if I can ever do anything for you please do not hesitate to call me. I can be reached anytime on my cell at 843-685-0597. Once again, I really do appreciate you attending the meeting. I look forward to seeing you again and working with you in the future.

Tommy Lanier

WE'RE YOUR SOURCE FOR MANUFACTURED HOME LOANS

SPECIALIZING IN MANUFACTURED HOME LOANS

50% OF OUR CUSTOMERS WERE WORKING WITH OTHER LENDERS,
HIT DEADENDS & CAME TO US !!

866.573.8002

CHECK OUT OUR WEBSITE
www.equityaccessmtg.com

THE MANUFACTURED HOME...The Secrets of Finance & the FHA Permanent Foundation Seminar

Thursday March 20th - 10:00 am - at the CCAR office in Morehead City, NC

Seminar being hosted by EquityAccess, FoundationPlus, & National Home Inspection Solutions

Tommy Lanier - EquityAccess Mortgage

Jeff Wood - FoundationPlus & National Home Inspection Solutions

Lunch to follow Seminar

The purpose of the seminar is to better inform & educate those in the real estate community (including realtors, appraisers, lenders, insurance agents, and engineers) that are providing services to manufactured home buyers & sellers.

RSVP (ccarmls@bizec.rr.com) now to reserve your seating!!!

IS YOUR ARM BROKEN???

REFINANCE YOUR ADJUSTABLE RATE MORTGAGE

CALL 843-281-8108
LITTLE RIVER, SC

LOW FIXED INTEREST RATES / LOW CLOSING COSTS

WOULD YOU LIKE TO
REFINANCE YOUR
MANUFACTURED HOME LOAN &
SAVE $$$


LAND/HOME LOANS INCLUDING
CASH OUT REFINANCES WITH
LOW FIXED RATES & LOW CLOSING COSTS
THAT CAN BE INCLUDED IN
YOUR NEW LOAN

CALL TODAY FOR A FREE
LOAN ANALYSIS
866-573-8002
WE ALSO HAVE PURCHASE PROGRAMS
WITH LOW DOWN PAYMENTS

NEED A MANUFACTURED HOME LOAN????

“I would like everyone to know that it was a blessing that we got our loan through EquityAccess Mortgage. Most other mortgage companies do not have loan programs for mobile homes. It was a pleasure getting to know the people at EquityAccess, everything they quoted us and told us came true. This is a wonderful company to do business with.”
- Mr. & Mrs. McCollum (Red Springs, NC)

SC & NC CREDIT UNION REFERRALS

MANY CREDIT UNIONS DO NOT OFFER MANUFACTURED HOME LOANS

WE'RE HERE TO HELP...

WE UNDERSTAND YOUR GOAL OF SERVING
YOUR MEMBERS WITH THE LOAN PROGRAMS
THEY REQUEST & NEED!!!

SPECIALIZING IN MANUFACTURED HOME LOANS
LITTLE RIVER, SOUTH CAROLINA

WE OFFER MANUFACTURED HOME LOAN PROGRAMS THAT
ARE DIFFICULT TO FIND & WE’RE HERE TO SERVE YOUR
MEMBERS WITH THE SAME CARE & SERVICE YOU GIVE !!!

FROM SINGLEWIDES TO DOUBLEWIDES,
FROM LAND/HOME MORTGAGES TO HOME-ONLY LOANS,
FROM PURCHASES TO CASH OUT REFINANCES.

OUR LOAN PROGRAMS FEATURE LOW FIXED RATES,
AS LOW AS 5.75% ON 30 YEAR LAND/HOME MORTGAGES
& 7.5% ON 20 YEAR HOME-ONLY LOANS,
WITH REASONABLE CLOSING COSTS !!!

LEARN MORE – CALL 866-573-8002

WE HAVE CREDIT UNION BACKGROUNDS & WE UNDERSTAND THE RELATIONSHIP
YOU HAVE WITH YOUR MEMBERS

REAL ESTATE AGENTS..........................

WE UNDERSTAND YOUR GOAL OF SERVING
YOUR CLIENTS WITH THE LOAN PROGRAMS
THEY NEED!!!

WE OFFER MANUFACTURED HOME LOAN PROGRAMS THAT
ARE DIFFICULT TO FIND & WE’RE HERE TO SERVE YOUR
CLIENTS WITH THE SAME CARE & SERVICE YOU GIVE !!!

FROM SINGLEWIDES TO DOUBLEWIDES,
FROM LAND/HOME MORTGAGES TO HOME-ONLY LOANS,
FROM PURCHASES TO CASH OUT REFINANCES.

OUR LOAN PROGRAMS FEATURE LOW FIXED RATES,
AS LOW AS 6% ON 30 YEAR LAND/HOME MORTGAGES
& 7.5% ON 20 YEAR HOME-ONLY LOANS,
WITH REASONABLE CLOSING COSTS !!!

866-573-8002

ANOTHER SATISFIED EQUITYACCESS CUSTOMER

“After doing a search on the internet for manufactured home refinance companies, I was lucky enough to find EquityAccess Mortgage. They are upfront about all costs, possible refinance scenarios, and work really hard to find the best financial solution for their customer. I have found that there are a lot of companies out to line their pockets without consideration for the consumer, but this company is definitely NOT one of them. Thank you for helping me save my home & my credit.”
- Ms. Holt (Burlington, NC)

WE HELP CUSTOMERS & MAKE IT EASY!!!

"EquityAccess lowered our interest rate almost 5% and gave us a fixed rate. We were on an adjustable rate that was getting ready to go even higher. EquityAccess worked hard to help us when all the mortgage companies we talked with before them either couldn't or didn't." - Mr. & Mrs. Lee (Dillon SC)

OUR FOUNDATION SOLUTION FOR FHA LOANS

IS THE HOME WITHOUT
A PERMANENT, FHA
APPROVED FOUNDATION?


NO PROBLEM – WE HAVE THE SOLUTION!



EquityAccess Mortgage, Inc. is a wholly owned subsidiary of FoundationWorks, Inc. (FW). FW is a manufactured homes foundation system company that offers a low cost, state of the art foundation system alternative that can be installed in hours, not days. There is no digging and no site-poured concrete. Retrofitting an existing manufactured home with the FW system opens doors for refinancing, purchasing, or selling. The FW system meets all HUD requirements to make a home eligible for FHA, VA, and Conforming Loan Programs. These programs give many homeowners the ability to refinance for substantial savings and/or the access to cash out opportunities. The flexibility of these loan programs enable many buyers the opportunity to qualify for homeownership. Furthermore, these programs give buyers no or low down payment options including gift agency down payment assistance programs. Learn more about FoundationWorks at their website, www.foundationworksinc.com.