Mountainside Financial


Factory Built Owners America


Credit Guidelines

refinancing manufactured homes

Purchasing & Refinancing Manufactured Homes

Our philosophy, when lending for the purchase or refinance of a manufactured home, is based on a 3 “C” methodology; Capacity, Character, Collateral.


Can the borrower repay the loan? CU Factory Built Lending will look at the following factors in an attempt to determine the capacity of a borrower to repay the loan:

  • Indebtedness
  • Income
  • Job Quality and Stability
  • Income Dependability
  • Debt-to-Income Ratio


Does the borrower INTEND to repay the loan? This question is answered by an in-depth analysis of the debt history on a borrower's credit report. CU Factory Built Lending will carefully review a borrower's credit history and will seek clarification, on a case by case basis, where warranted. We understand that “life happens” and we will do our best to work through past credit issues.


Lastly, CU Factory Built Lending strives to put our borrowers in a strong collateral position. This means that the VALUE of the property the borrower intends to purchase or refinance is consistent with the AMOUNT of the loan.

We weigh all of the pertinent information and establish their relative importance to make a decision that not only benefits CU Factory Built Lending, but the borrower as well.

In general, CU Factory Built Lending utilizes the following credit guidelines:

  • 60 months total credit depth (length of time the applicant has had credit)
  • One installment account with a minimum high credit of $5000 and minimum 24 months reporting
  • No repossessions, or bankruptcy in the previous 5 years
  • No foreclosures
  • No unpaid tax liens or judgments
  • No unpaid collections

CU Factory Built Lending credit decisions are never made based on race, color, religion, sex, marital status, national origin, ancestry, or age.