17842 Irvine Blvd. Suite B204
Tustin, CA 92780
Tel: (714) 731-8080
Fax: (714) 731-3908
Tollfree: (800) 232-3908
Are you shopping for a manufactured home and need to be pre-approved? Do you want to know how much you qualify for? If you answered yes to either of these questions, you’ve come to the right place. Santiago Financial can help you! In order to …
Santiago Financial Quick Application- A Quick Guide Read More »
Debt-to-Income Ratio (Overall Debt Ratios) Just as important as the Housing or front-end ratio is the debt-to-income ratio or DTI. This is the amount of your gross monthly income that goes toward paying all debts considered in a loan. Lenders consider 42-48% the golden range for DTI. Lenders will want to see lower DTI’s, but by …
Debt and Housing Ratios- How Do They Affect Your Loan? Read More »
Debt and housing ratios are two important factors taken into account when qualifying for a loan. In part one, we will explore housing ratios: Housing Ratios (Front-End Ratios) The housing ratio is used to assess how much income is needed in order to adequately repay your loan. Lenders will look at the housing ratio as …
Debt and Housing Ratios- How Do They Affect Your Loan? Read More »
Did you know that Santiago Financial can help you insure your manufactured home? If you are currently financing your home, you are likely already required to insure your manufactured home and reviewing your policy for coverages and rates annually is always a good idea. In addition, if you own your home outright, it is wise …
You’re interested in buying a manufactured home but as a buyer, you want to know exactly what you qualify for. How much down do I need? If the home was built on or before June 13, 1976, you will need 20% down and the loan term will be 15 years. If the home was built …
Comparable sales reports are a valuable tool in determining the value of a manufactured home in a park to sell or refinance. These reports also help appraisers to determine the value of the home that they are appraising. Lenders use comparable sales reports to confirm home values. Sample (Click to zoom) Order Your Report Today …
What It Is Manufactured home appraisals or property valuations are the process of determining the market value of a manufactured home. Appraisal reports are used in manufactured home loans. Appraisals are most frequently used in purchases and sales of manufactured homes but are also commonly used in refinances. Sample (Click to zoom) Why We Need …
During the mortgage loan process, there are many considerations to be made regarding home price, down payment amount, income level, and monthly payment amounts. These issues can be confusing and can lead to miscommunication between the buyer, the agent, and the broker. Calculations specifically are often difficult for customers to grasp, so clear this up, …
Estimated closing statement from escrow Provided by escrow, outlines all cost for the buyer and seller. Determines the total cash to close for the buyer. One year insurance showing year, make, model, size and complete serial number of home. Also need lender to show as loss payee Santiago Financial, Inc. has manufactured home insurance in-house …
Cost The cost of manufactured homes on average is less than traditional homes. Often times, the mortgage and space rent for a manufactured home is even less than renting an apartment or condominium in California. According to Zillow, the median (traditional) home value in California is $487,700. Manufactured homes cost a fraction of this price …
English
Arabic
Chinese (Simplified)
Filipino
Korean
Spanish
Vietnamese