Mobile Home Loans

Loans to purchase or refinance owner-occupied new or used mobile homes are available at OTIS Federal Credit Union.

Mobile Home Loans


Mobile homes must be located within the state of Maine. Terms and conditions are based on credit score and amount being financed.
 

New Mobile Homes
  • OTIS will finance up to 80% of the purchase price with proof of 20% down payment on the purchase of a NEW mobile home.
  • New mobile home loans may be financed for up to 15 years, depending on the qualifications of the borrower.

 

Used Mobile Homes
  • Appraisals are required on purchases of used mobile homes. The maximum loan amount is 80% of purchase price or 80% of appraised value (whichever is less).
  • Used mobile homes may be financed for up to 10 years, depending on the amount of the loan, the appraisal, and the qualifications of the borrower.

 

Financing Member-Owned and Occupied Mobile Homes
  • 80% of appraised value on appraisals less than 1 year old
  • 60% of appraised value on appraisals 1-5 years old
  • 50% of appraised value on appraisals 5 years or older or tax values

It’s easy to apply! Call 897-0900 or stop in at the Credit Union and talk to one of our friendly loan officers today!

"[We] are so impressed by how well we are taken care of by all employees at OFCU. Thanks for all your hard work keeping customers happy."

-Cheryl-ann J., OTIS Member