Guide to Vanderbilt Mortgage [Review]

Guide to Vanderbilt Mortgage [Review]

Serviced by Berkshire Hathaway, this mortgage lender strives to maintain strong morals and provide top-notch service to meet client needs.

Vanderbilt Mortgage

Vanderbilt is a national leader in mortgage origination specializing in manufactured, modular, and mobile home financing. It has been in business since 1965, and, according to its website, currently services more than 200,000 loans.

With its significant lending experience in niches not addressed by many lenders , Vanderbilt Mortgage understands that each client has unique financial needs when buying a new home or refinancing an existing loan.

Products Offered

Vanderbilt Mortgage offers a wide range of options for the client who wants to acquire a manufactured, modular, or mobile home. The options include:

Conventional Mortgage

A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower.

Biweekly Advantage Mortgage

Convenient automatic payments every two weeks. Rather than paying a full monthly payment, you’ll make a 1/2 payment every two weeks. This way, more payments go toward the principal of your manufactured home loan, allowing you to own your home free and clear sooner.

Land Home Mortgage

This program makes it possible to finance a new home, land, and land improvements and fees all in one loan with one payment. This loan product makes the process easier for manufactured housing, in particular.

Federal Housing Administration (FHA) Mortgage

A Federal Housing Administration (FHA) loan is a mortgage insured by the Federal Housing Administration (FHA) and issued by an FHA-approved lender. FHA loans are designed for low-to-moderate-income borrowers; they require a lower minimum down payment and lower credit scores than many conventional loans.

Payment Options

Pay Automatically

Vanderbilt Mortgage and Finance will draft your mortgage payment from your checking or savings account when the payments are due.

Automated Phone Pay

To pay by phone 24/7, all you need is your checkbook, loan number and the primary borrower’s ZIP code.

Assisted Phone Pay

To pay by phone with assistance from one of the Vanderbilt Mortgage customer service agents, you may call  during normal business hours. As with the automated phone pay option, you need only your checkbook and loan number.

Web Pay

Vanderbilt Mortgage accepts web payments 24/7 via its website:

  • If you are the primary borrower, all you need is your checkbook, loan number, and social security number to register.
  • If you are someone other than the primary borrower, all you need is your checkbook, loan number, and the primary borrower’s zip code to register.
  • If you have already registered to create your secure online account, all you need is your User ID and Password to log in.

You can also pay by Pay by Check or Money Order or Pay by Money Transfer Service (MoneyGram or Western Union).

Conclusion

Vanderbilt Mortgage is an important mortgage provider for a segment of the homebuying population whose needs are not addressed by most lenders. If you are interested in buying a manufactured or modular home, in particular, Vanderbilt is worth looking to for information about its loan products.

One of the points where the company particularly stands out is the ability to receive different forms of payment, thus making life easier for its customers, as they can feel more freedom to choose the best path. So, if you are looking for a good company to provide a mortgage for your manufactured or modular home purchase, Vanderbilt certainly needs to be at the top of your list.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts