Manufactured-home Buyers
We champion ownership of affordable manufactured-homes for working families, first-time buyers, seniors, and disabled people.
Welcome Home Loans
We understand how hard it is for buyers of manufactured (mobile) homes to get a loan. That’s why we created Welcome Home Loans — for people who want the security of living in their own home on land that won’t be sold out from under them.
Welcome Home Loans are fixed-rate, long-term conventional mortgages for the purchase of new and pre-owned manufactured homes in resident-owned communities (ROCs) or on land the homeowner owns or is buying in New Hampshire.
Picture yourself in a new manufactured home. You've chosen the cabinets, the colors, and the style, so it looks great. You've also selected a ROC to live in, or land to put your new home on.
Our Your Turn homebuyer assistance can make that vision an affordable reality for those whose household income is below a defined level. Your Turn offers an additional $35,000 loan to cover down payment and closing costs on new Energy Star homes.
How to PrequalifyList of ROCsDown Payment AssistanceA Welcome Home Loan can be used to purchase an existing manufactured home in a ROC or on land the homebuyer owns or is buying. In addition, we offer $15,000 in down payment and closing cost assistance to buyers whose household income is below a defined level.
How to PrequalifyList of ROCsDownpayment AssistanceSingle Father, Veteran, and New Homeowner
“The Community Loan Fund helped me clear up everything and put myself in a position to buy,” John [the home buyer] says.
Learn MoreNew Homes Make Thriving Community
Because lot rents are ROCs’ only income source, putting homes on those lots became a top priority of Freedom Village’s volunteer board.
Learn MoreHer First Home, Close to Home
“It’s an awesome feeling. I’ve never been proud of myself, but I could not be more proud of myself right now,” Antonicia says.
Learn MoreGet Started
Review the process below to understand the big picture when it comes to applying for a Welcome Home Loan, and buying and installing your home.
Locate an Empty Lot
We lend to manufactured-home buyers who are placing their homes in ROCs or on their own land. Check our list of ROCs to find one near you.
Select a Home
Be sure the total cost to make the home move-in ready is within the amount you prequalified for. The retailer must act as the “general contractor” for the home installation. We only disburse money to the retailer, so all labor and materials to get the home move-in ready must be on their contract. This includes sitework, utility connections, and stairs or decks.
Investigate What Your Home Lot Needs
If you’re buying a piece of land (or already have one), do you need to install a septic tank and well? We only disburse to one entity, so everything included in the loan, including the cost of running electric to the site, any prep work (like tree removal), hookups to town water and sewer, and final loaming of the site need to be listed on the retailer's contract.
Send us the Retailer’s Proposal
The proposal should include the house’s floor plan, features list and, if placing a home on your land, the fully executed land contract.
Apply for a Loan
After receiving a proposal from the retailer, we will email you a link to an online application portal. Please be sure to also submit supporting documentation.
Understand the Timeline
Once we have your completed application and purchase contracts, we are at least 45 days out from closing on your loan. You’ll want to get from the retailer the timeframe from your closing to when the home will be shipped from the factory and installed on your site.
We Order Loan Appraisal and Title
We will order both of these after we receive the appraisal fee and the borrower’s signed “Intent to Proceed” form. The appraiser then visits the home site and uses the floor plan and features list to determine the value, just as if the home was already completed.
Finalize Closing Details
We work with you to gather any items that are required prior to closing the loan. At closing, you, the lender, and the home retailer review and sign the construction loan documents.
Close and Get a Certificate of Occupancy
At the loan closing the owner of the land (if applicable) gets all of their proceeds. The retailer gets their first 10% disbursement. You will need additional documentation between when your loan closes and when you get a certificate of occupancy.
Manufactured-home Buyer Resources
Get information on the buying process.
Homebuyers
Click here for a list.
Download and print the Retailers List.
The only cost to apply is a credit report fee for each borrower. Please contact us for the current fee.
We will ask you to complete a loan application and provide financial information such as pay stubs and bank statements. We will work with you to make sure you provide all the documentation to make the application process move smoothly.
Bank of America’s online Education Resource Center offers videos, presentations, and resources, in English and Spanish, to help you understand your finances. Sections include:
- Economic mobility basics
- Economic mobility next steps
- Starting a small business
- High school students
- College students
- Reservists and Guard
- Military families
To help you with buying and financing your home, the federal Consumer Financial Protection Bureau offers tools and resources to help you make decisions and learn what to expect and what questions to ask.
Federal law allows you to get a free copy of your credit report every 12 months from each credit reporting company. Make sure that the information on your credit reports is up to date.
The Northern New England Real Estate Network is a good place to find manufactured homes for sale in N.H. or in the town of your choice.
Homebuyer support from U.S. Dept. of Housing and Urban Development-certified agencies helping people become home owners through homebuyer, financial fitness, and credit counseling.
Free, confidential, credit counseling for N.H. and VT residents, in person or online.
If you are buying a new home in the Lakes Region MHP Cooperative in Belmont, you might qualify for financing through USDA Rural Development Single Family 502 Housing Loans.
Read Home Loans Matter — a case study in Rochester, N.H. on how buyers and sellers of manufactured homes benefit from access to financing.
Current Welcome Home Loan Borrowers
Every Welcome Home Loan borrower has access to a free, confidential, 24-hour helpline. A specialist will discuss your situation with you and connect you with the specific help you need, ranging from legal and health issues to mental health, child, and elder care. Go online to KGA Life Services or call the toll-free number, (888) 923-1982, and identify yourself as a N.H. Community Loan Fund borrower. More information here.
Yes. Go to https://nhclf.yourmortgageonline.com/ Click on "Register" to set up your account.
All checks should be made out to New Hampshire Community Loan Fund, Inc. Mail payments to:
New Hampshire Community Loan Fund
PO Box 660592
Dallas, TX 75266-00592
Send your payment to:
New Hampshire Community Loan Fund
1 Corporate Drive, Suite 360
Lake Zurich, lL 60047- 8945
Call Customer Service
(855) 816-1161
Hours
8 a.m. to 5 p.m. Monday through Friday
Mail questions, tax bills, and other correspondence to:
New Hampshire Community Loan Fund
1 Corporate Drive, Suite 360
Lake Zurich, lL 60047- 8945
Customer Service FAX
(847) 574-7659
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