Mobile Home Loans
Interested in buying a mobile home? Finance with us!
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
Mobile homes must be located within the state of Maine. Terms and conditions are based on credit score and amount being financed.
Ready to apply, or interested in more information? Give one of our friendly Loan Officers a call today at (207) 897-0900.
|Kariss||Loan Officer||Extension 128|
|Lindsay||Loan Officer||Extension 103|
|Caitlin||Loan Officer||Extension 108|
|Jasmine||Loan Officer||Extension 105|
|Jamie||Loan Manager||Extension 124|