MANUFACTURED HOME REFINANCE LOAN
have outlined the steps involved in refinancing your mobile,
manufactured or modular home .
We must point out that every
situation is slightly different. Always refer to your approval for
exact loan requirements and information pertaining to your
loan. The time from application to funding normally takes 2 - 3
weeks, depending on the cooperation of all parties involved.
STEP 1. - APPLY FOR A LOAN
There are many ways to apply for
a refinance loan with JCF, you may use our online application or
print and fax an application. The best way to apply is to call us
for priority service. Applying by phone is incredibly simple and
takes just minutes to complete, then in most cases, you will
receive an approval within 15 minutes. No waiting days for an
answer. Your loan officer will then email or fax your approval to
you. The approval will give you the specifics of your loan approval
and items that you will need to provide for us. Below we have
outlined the hours that you may call to receive an instant
approval, please call toll free (866) 967-0143.
10:00 AM - 10:00 PM
9:00 AM - 9:00 PM
8:00 AM - 8:00 PM
7:00 AM - 7:00 PM
11:00 AM - 6:00 PM
10:00 AM - 5:00 PM
9:00 AM - 4:00 PM
8:00 AM - 3:00 PM
STEP 2. - ACCEPTING THE LOAN
As stated above, you will receive
a verbal loan approval normally within 15 minutes, you will then
receive a written approval either by email or fax within 1 hour.
The approval will give loan specifics and the items that we will
need you to fax or email to us. The items that we ask you to
provide to us are a mandatory provision of your approval. If you
have questions or will have difficulty providing any of the items
listed on your approval, please call your loan officer at once.
Your loan approval will also include a breakdown of the fees
associated with the loan, and the amount to finance, term of the
loan, interest rate, and estimated monthly payments. Mandatory fees
include a bank fee ranging from $1,000 - $1,500, internal
escrow/processing fee of $299, Titling Fee, and a Federal Flood
Certification fee of $47 - $104. We have listed below the most
common items that we need:
- Current Pay Stub + Most Recent W-2
- Award Letter, if retired, and proof of receipt
- Letter from Employer, Start Date & Position
- Contact current Lien Holder Get 30 Day Payoff + Copy of
- Copy of Drivers License & Social Security Card
- 3 References, Name, Address, Phone & Relationship
STEP 3. - LOCKING IN THE
Once you have read and have
determined that the loan approval meets your needs, you will need
to authorize an inspection or appraisal/inspection combination.
Your approval will indicate which will be required, and is
considered an out of pocket expense and can be paid at the time of
the inspection or you can pre-pay for the service in advance by
credit card. The fees for these services run from $145.00 -
$400.00. Once either an inspection or appraisal has been ordered
your rate & term approval are locked in place and cannot change
for 60 days. Make sure you completely agree to the conditions of
the approval before locking in the approval.
STEP 4. - RETURNING REQUESTED
Your approval will indicate items
that will need to return to us, you may fax, email or mail these
items. We suggest that you try and send all items at once. Some
items can be returned with your documents. Please contact your loan
officer for specific details. Once we receive these items, please
allow us 24 hours prior to proceeding to closing documents.
STEP 5. - CLOSING
Once your loan stipulations and
inspection/appraisal have been reviewed and approved, we are in a
position to send closing documents. It is important to note that
all escrow functions are handled by JCF, except in California. We
do not allow 3rd party escrow. We will over night documentation
that needs to be signed and notarized, we can send the documents
anywhere Fed-Ex delivers. At extra expense we can also have a
notary visit your home to assist with signing the closing
documents. Your documents come with a return pre-paid Fed-Ex label.
You can simply call Fed-Ex to have the documents picked up for
return to us.
STEP 6. - FUNDS DISTRIBUTION
Once we receive your documents,
they are given to our funding department for review to ensure all
paperwork has been signed properly, and notarized, if necessary.
After we receive the documents, funding normally occurs after 2 - 3
business days, at which time certified funds are sent to your
current lender and/or creditors, if applicable.
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