Citizens Bank modular home loan program

#1 Modular Home Loan Program

30 Year Fixed Interest Rate

  • Same Day Pre Approval
  • Quick Closings-30-40 days
  • Hassle Free Mortgage Process
  • One Closing Construction Loan
  • Combined 32 years of mortgage experience
  • Closed over 5,000 mortgages combined
  • Good “Old Fashioned” Customer Service

How Most Lenders Calculate LTV:

Lien on the land: $50,000
Cost of construction: $300,000
Total: $350,000

LTV is calculated off the total cost to construct-instead of Appraised Value
Max loan amount: $280,000 ($350,000 x 80%)
Borrower funds needed:$50,000
$350,000 - $280,000

How Citizens Bank Calculates LTV:

Lien on the Land: $50,000
Cost of Construction: $300,000
Appraised value subject to completion: $440,000

Our LTV is calculated off the cost to construct
Max loan amount: $352,200 ($440,000 x 80%)
Borrower funds needed:$0 +$2,200 can go towards closing

# 1 New Construction 30 Year Fixed Rate

Modular Homes Factory Direct

    • One Closing within 60 days of application
    • 12 Month Construction Term
    • Interest Only during Construction, fully amortizing for end loan at the same rate
    • No Builder Approval
    • Portfolio Product
    • No Down payment when borrower owns the land
    • Maximum 90% LTV for Primary residences
    • Maximum 80% LTV for Second Homes
    • Minimum Credit score of 660
    • Same day Pre-Approvals
    • Financing available in most states
    • 10% down no PMI
    • Dedicated team for construction loans
    • Flexible underwriting guidelines for LTV, credit score and debt ratio

Meet your #1 Modular Home
New Construction Mortgage Team

Debra Botulinski

Mortgage Loan Originator
NMLS #460206
Mobile: (908) 400-8040
Office: (732) 383-1445
E-Fax: (844) 445-0942

We Deliver Modular Homes Factory Direct to these States

New Jersey, New York, Pennsylvania, Connecticut, Massachusetts, Delaware, Vermont, Maryland, Virginia, North Carolina, Rhode Island, and West Virginia