Q: What does "refinancing" mean and how does it work?
A: Refinancing pays off your existing loan under better terms, saving you thousands of dollars.

Q: What are your rates?
A: We offer a wide range of interest rates depending on certain factors like credit score, the size of your home, and length of loan. Remember your quote is absolutely free and once you are approved we can let you know exactly what rate you qualified for.

Q: How much will a refinance save me?
A: Most of our customers save tens of thousands of dollars over their new loan period. An exact figure will be provided to you after you are officially approved.

Q: How much money is this going to cost me?
A: There is absolutely no out of pocket cost to refinance your home. The only exception is if you decide to pay for an appraisal on the home which is rarely necessary outside of California.

Q: Is there any type of pre-payment penalties with our loans?
A: No. None of our loans allow for a pre-payment penalty.

Q: How much can I borrow against my home on a cash-out / debt consolidation refinance?
A: That depends on the value of your home and your current loan's balance. Other factors involved are your credit score and size of home.

Q: I've had trouble finding a refinance for my loan with Vanderbilt, do you refinance these loans?
A: Yes we can refinance Vanderbilt loans, as well as all mobile home lenders.

Q: How old can my home be?
A: We can only offer financing on homes built 1976 and newer.

Q: Will my payment ever change?
A: No. We only offer fixed rates, so your payment will never fluctuate.

Q: When will my first payment be due?
A: Your first payment is usually due a month after the exact day your current lender receives their payoff check. This usually allows you to skip a month's payment. You can discuss payment date options with your loan officer.

Q: Is there a difference between a manufactured home loan and a conventional mortgage with land?
A: Yes. Many investors consider manufactured home loans "higher" risk and offer high interest rates. Here at UMF, we strive to offer rates as low or very close to standard mortgage rates depending on your qualifications.

Q: How do I know I can trust your company?
A: We have been in business since 2002, serving thousands of customers like you. We are licensed in 37 different states and guarantee 100% privacy of your personal information. We will never ask you to write us a check or pay us up front.