Compadre Mortgage Manufactured Home Prime Program for California

A chattel loan program designed to meet the unique demands of the California manufactured home market. The Compadre Prime program is an exclusive offering available for HUD Code Homes (June 1976 and newer) and Park Model Homes in land lease mobile home parks and approved Cooperative Communities.

Available for new and used purchase and refinance. 

All Homes MUST be Owner Occupied Unless Park Model which can be Investment

• Maximum Term New and Pre-Owned Home:
25 years for Primary & Secondary / Vacation Residence with finance amounts above $40,000.00
20 years for Primary & Secondary / Vacation Residence with finance amounts below $40,000.00

• Minimum Loan Amount $50,000.00

• NO Maximum Loan Amount

• 1976 to New Construction (HUD code Standard)

• Approvals and Rates expire in 90 Days

• Credit – Must have 12 months installment history with 1 active tradeline. VOR can be considered as
installment history.

• Minimum 10% down for Secondary / Vacation Purchase

• New Homes Advance or (URAR) Appraisal

• Pre-owned homes require Appraisal

• Maximum 50% debt to income for all primary & secondary home with 700+ fico

• Maximum 47% debt to income for all primary & secondary with 680-699 fico and secondary homes

• Maximum 45% debt to income for all primary & secondary with 640-679

• NO ITIN

• 1% Lender Fee, $999 Lender Processing Fee and $499 Lender Admin Fee

• Buydown - up to 4 point buy down (.25% of rate for each point

• Approved Closing Agents Only (Call or email for list.)