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Does Hoosier Home Mortgage lend on mobile homes?
Yes, we have programs avbailable up to 85% of value of mobile/premanufactured |
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What is the difference between
a modular home and a mobile/manufactured home?
Mobile homes (manufactured homes) are defined as a home with a metal chassis and wheels (even if the wheels are removed and the home is placed on a permanent foundation). Hoosier Home Mortgage does not lend on such homes.
Modular homes are constructed off site without wheels, and delivered to a location in sections for assembly. This type of home does not have manufactured HUD tags. Hoosier Home Mortgage does provide financing for modular homes in Indiana.
Hoosier Home Morrtgage can lend up to 100% of the value of thes type home |
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Why doesn't Hoosier Home Mortgage advertise rates on its website?
Hoosier Home Mortgage does not advertise rates because the rates vary depending on your credit history and other variables. We take many things into consideration before we can give you a customised quote. Please call (219) 934-0560 for more information. |
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Will Hoosier Home Mortgage lend to resident aliens?
Yes, Hoosier Home Mortgage will lend to borrowers with resident alien status. All resident aliens must prove employment within the United States and provide proof that their income is from a source within the U.S. Click here to Request a Loan. |
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Does Hoosier Home Mortgage lend to borrowers who are currently in foreclosure or bankruptcy?
Hoosier Home Mortgage does offer certain programs for borrowers with foreclosure, but the bankruptcy or foreclosure activity must be resolved prior to the signing of the loan documents. Click here to Request a Loan. |
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Will Hoosier Home Mortgage consider borrowers who have tax liens or judgments?
Hoosier Home Mortgage will consider loans with tax liens or judgments; however, all open judgments and tax liens must be paid with loan proceeds. |
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Does Hoosier Home Mortgage lend on commercial property, or properties with a mixed use (e.g., residential with an ongoing business interest, farm, ranch, grocery store, auto repair shop, etc.)?
Yes. |
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Does Hoosier Home Mortgage lend on income properties larger than four units?
No, however 2-4 units are acceptable up to 100% of the value. |
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What is Hoosier Home Mortgage's minimum and a maximum loan amount requirement?
Yes, ten thousand dollars to one ten million dollars. |
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Minimum down payment required on loans?
No, Hoosier Home Mortgage specializes in obtaining no money down loans also loans up to 103% of the value of your home at closing.
HHM offers programs for borrowers with open bankruptcy and forclosures (forclosures must be complete at time of signing).
We also allow no seasoning on sellers homes for those investers trying to flip their property in only thirty days. We can refinance these loans as well. |
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Hoosier Home Mortgage is an Equal Housing Lender