Q: I've located the home I want to buy. What do I do now?

A: Call Mainland Financial Inc. at 1-888-264-4921. One of our Loan Specialists will advise you on the proper steps to follow in order to close on your mobile home. We walk you through the process step by step, and unlike the larger lenders, we pride ourselves on being family owned and operated. When you close your loan through Mainland Financial you will always be able to speak to the same person throughout your entire process, eliminating miscommunications and delays.

Q: What can I find out about Home Owner's Insurance for my Manufactured Home?

A: Mainland Financial is affiliated with the Salamone Insurance Agency. We can, on your behalf, obtain your required home owners insurance and give you a detailed explanation. Mainland Financial wants to make the entire process of purchasing a new home as easy as possible. If you would like us to obtain a quote, please let us know at any time.

Q: How long does it take to get an approval on my loan?

A: Response time is generally 48 hours with completed application. We provide you with a full 60 day locked in approval and rate. We DO NOT provide pre-approvals. Pre-approvals are not approvals, they can be withdrawn at any time by your lender for any reason. Mainland Financial provides full approvals, so you can be certain the home you are purchasing will have the financing behind it to become a reality. That is our promise!

 

Q: What are your present interest rates and terms of financing?

A: Mainland Financial, Inc. utilizes a variety of lending sources, so down payments, interest rates and terms vary. Mainland Financial continuously provides the most competitive rates and terms available. Mainland Financial works directly with the lender.

 

Q: How much down payment is required?

A: A minimum of 10%-20% cash down payment is required.


Q: How long will it take to close my loan?

A: Documentation takes at least three days to process after Stipulations have been cleared. We can not process any documentation without all stipulations being cleared by our office. After stipulations have been cleared, minimum 3 days for a closing date to be set

Q: Who takes care of all the paperwork involved?

A: A representative of Mainland Financial, Inc. will conduct the closing and complete preparation of all required documents, including lien investigation.

 

Q: Who takes care of paying the lien, if one exists, and how does the seller get paid?

A: Mainland Financial, Inc. disburses ALL funds. We pay off the lien holder directly and the balance of the proceeds is paid to the seller.

 

Q: If I am refinancing my home, how does my existing bill get paid, and who pays them?

A: Mainland Financial, Inc. directly pays off your lien to your existing lender transferring the balance of your home to the new lender. If your loan consists of a debt-consolidation we also pay your credit cards and other bills directly from our office.

 

Has your question not been answered?

You may Email us at Mail@MainlandFi.com or call us at 888-264-4921