The internet has become one of the best tools a consumer has when searching for a manufactured home loan. However the search results that they find can be a maze of websites that make it difficult to pinpoint who to trust and submit your private information to. 

I'm estimating that 60-70% of these sites are of no use to the consumer because these websites are not actual real mortgage companies but lead companies that just collects a borrowers information and the sells it in the after market to whoever will buy it.  This is not in the consumers best interests but the websites best interests. They are not screening the lender in advance to make sure they specialize in manufactured home loans, so your information may be going to some kid that just graduated high school and has $20 to purchase your information.

Scary isn't it?

I don't know about you but I wouldn't want my most valuable investment to be handled this way. Yet I see this happen every day and I think consumers need to be aware of these websites that have no phone number or actual physical address and can end up hurting you in more ways then you know.  

If you are looking for a manufactured home loan then you need to educate yourself by researching the company you are applying with. Make sure that they have a phone number where you can call and reach an actual live person. Go to their contact page and make sure they have a physical address and office, not just a PO Box. Call and speak with someone and get a feel to see if they know what they are talking about or they are just BS artists trying to make a quick buck by selling your information.

Manufactured home loans are on of the toughest mortgages to obtain right now. There are many factors that come into play in the qualifying process that many loan officers do not understand. Trusted in the wrong hands can mean financial disaster to the client.

This incompetence and lack of knowledge can definitely affect a borrower greatly. A mistake on their behalf can cause you to in being denied for a refinance or purchase loan and what consumers fail to realize is that there is no 2nd chances with lenders.  

Once denied, you have a minuscule chance of correcting a mistake and resubmitting the loan for approval.

With so few lenders that even lend on these homes, you may have only one shot at getting the financing you need. Do you want to trust your most valued investment with an amateur or seasoned manufactured home professional? Do you want to fill out a form just to have your information sold to the highest bidders?

Just take your time when researching manufactured home lenders and don't fill out the first form you see just because they say they do manufactured home loans. Most certainly don't submit your information to a website that will just sell your private data to multiple unqualified loan officers.

The informed consumer always wins!