Program Highlights

• 95% Financing (true 5% down program)
• No Max Loan Amounts
• No cash reserves required
• Gifted Down Payments
• No mortgage insurance required
• Insurance can be financed into the loan
• Terms up to 25 years
• Owner contact options
• Debt to Income Ratio up to 45%
• Fixed Rates
• Closing Cost can be financed

GETTING SIGNED UP

1. Read the Broker Terms & Conditions found in the Broker Section, these are the terms you agree to and/or with by submitting an application to MH Loans. We will send you a hard copy agreement with your first set of documents. We no longer issue Broker agreements prior to the funding of a mortgage.

SUBMITTING APPLICATIONS

Fax a MH loans Application , along with a single or tri-merged credit report for each applicant. All applications must be submitted with a cover sheet that identifies the broker in combination with the applicant. Do not send 1003 applications or any other application other than a Application.

Once the application has been received by , allow 72 hours for a decision, which will be faxed to you. All declines are final, unless further documentation is provided.

APPROVED APPLICATIONS

Once an application is approved the broker will receive an approval via fax, this fax will contain the rate, term, conditions of the approval, along with any stipulations necessary to satisfy the approval requirements.

STIPULATIONS

All stipulations are to be faxed to, (360) 213-0293. Once all stipulations have been signed off, broker can then order an inspection or an a appraisal, depending on the NADA Book value. The request must be made via fax or by phone.

INSPECTIONS / APPRAISALS

An inspection and/or appraisal is mandatory and is considered an out of pocket expense for the applicant(s). The inspection and/or appraisal firm must be approved by MH Loans, inspections and/or appraisals run between $95 and $350. Contact your broker representative for approved appraisers in your area.

Once the inspection and/or appraisal has been signed off, the broker will be sent an confirmation fax, at which time the broker can request loan document preparation.

DOCUMENT SIGNING

Unless escrow is required, all loan documents will be sent over night to the broker, who is responsible for in office signing. If an escrow company is used, all documents will be sent to the escrow company for signing.

FUNDING/COMMISSIONS

Once MH Loans has received the return documents allow up to 5 days for funding. All customer proceeds will be sent via over night. Broker commissions will be mailed.