We make mortgages... not excuses!
Some banks won't even consider a manufactured housing mortgage. But First Colebrook Bank will. We can provide financing for your manufactured home whether it's in a park or on your own land. (All homes require an appraisal.) Call us for our current down payment requirements.
Some things you should know...
Closing requires homeowner's insurance. Just provide proof of a one-year, paid policy - with First Colebrook Bank listed as the mortgagee - for at least the amount of the loan. Funds to cover insurance as well as property taxes may be held in an escrow account at the bank. However, this just makes your life easier: when you receive these bills, mail or bring them to us and we'll make sure they are paid!
Life and disability insurance are available. Consult your loan officer for details.
We offer competitive rates. Of course, rates and terms do change, so call the First Colebrook Bank office nearest you and ask for a mortgage loan officer for current information.
What you need to apply...
___ One recent month of consecutive pay stubs
___ Your W-2 forms from the previous two tax years
___ Recent monthly statements from all asset accounts (include bank
deposits, mutual funds, stocks and other brokerage accounts)
___ Letter confirming that a portion (if any) of the down payment is a
___ Self-employed applicants or those receiving rental income:
signed and dated returns from the previous two tax years and a
year-to-date profit-and-loss statement (also, corporate returns are
needed for corporations)
___ Purchase and Sales Agreement, legible and signed by all parties
___ A copy of the property's deed or legal description
___ Your last paid property tax bill (if any)
___ Renters: name(s) and address(es) of landlord(s) for the previous
___ Copy of award letter for Social Security, disability or pension
income with proof of receipt
___ Written explanation for any late credit payments, defaults,
foreclosures, bankruptcies, liens or judgments
___ Copy of agreement with manufactured housing park