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Vanderbilt Mortgage

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LAST UPDATED: August 24th, 2022

Vanderbilt Mortgage, founded in 1974, specializes in home loans for new and used mobile and manufactured housing. Another unique financing option that Vanderbilt Mortgage offers is a loan used for energy efficient home improvement projects or emergency repairs.

Jump down to the Vanderbilt Mortgage reviews below to see what customers are saying about their experience.

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The Good

  • Variety of Loan Types
  • Manufactured and Mobile Home Financing
  • Home UpGrade Loan
  • Pre-owned Home Partner Network
  • Variety of Payment Options
  • Homebuying Resources and Education

Variety of Loan Types

Vanderbilt Mortgage offers a variety of loan types:

  • Portfolio Home Loan — a non-government loan product with fewer requirements and a quicker loan process
  • Land & Home Mortgage — a loan program that allows you to finance a new home, land, and land improvements all in one monthly payment
  • BiWeekly Advantage — a loan with the convenience of automatic payments every two weeks, providing the potential to own your home sooner
  • Fresh Start Home Loan — a loan program intended for homebuyers with less-than-perfect credit
  • Home UpGrade Loan — a loan program specifically designed to finance home upgrades
  • Direct Lending — a loan program for the purchasing a pre-owned, manufactured, modular, or mobile home from a private seller

Manufactured and Mobile Home Financing

Vanderbilt Mortgage is unique because it specializes in financing options for manufactured and mobile homes. Options include new and used manufactured and modular home financing and land financing as well.

In addition to the financing options, Vanderbilt also offers several resources to help you in the home buying process. One feature includes a mobile home finder. You can easily browse mobile homes in your budget to find the most affordable housing possible.

Home UpGrade Loan

The Vanderbilt Mortgage Home UpGrade Loan program is an affordable, long-term mortgage solution for home upgrade expenses — anything from energy efficiency upgrades to emergency repairs. The program features a fixed rate and zero percent down payment, making it more accessible for all homeowners. This loan program also features the following term options:

  • 5–10 year financing
  • Loan amounts from $2,500–$25,000
  • Low monthly payments
  • No prepayment penalty
  • Direct payment to contractor

The Home UpGrade Loan finances some of the following home upgrades:

  • Appliances
  • Windows
  • Insulation
  • Doors
  • Air sealing
  • Water heaters
  • Heating and air conditioning
  • Duct systems

The Home UpGrade Loan is only available in the following 21 states:

  • Alabama
  • Arkansas
  • California
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • Mississippi
  • Missouri
  • Nevada
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington

It is important to note that Home UpGrade Loan rates and terms are subject to change, and all loans are subject to credit approval.

Pre-owned Home Partner Network

If you are looking to purchase a pre-owned home — manufactured, mobile, or not — Vanderbilt Mortgage has a large and trusted network of home partners that can help you find your perfect home.

Variety of Payment Options

Vanderbilt Mortgage has a variety of payment options, allowing you to choose the best option for you. You can choose to pay online through your Vanderbilt Mortgage account, through which you can also set up automatic payments. In addition, you can make payments by phone, check, money order, or money transfer service.

Homebuying Resources and Education

Vanderbilt Mortgage provides several educational tools and resources for homebuyers on its website. For example, it has a mortgage calculator and informational guides to help borrowers learn about and prepare for the mortgage process.

If you are a first-time homebuyer, these tools and resources will be especially beneficial to you.

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The Bad

  • Undefined Traditional Loan Options

Undefined Traditional Loan Options

While Vanderbilt Mortgage offers a variety of specialized loan options, including loans for manufactured or mobile homes, as well as home upgrade loans, it is unclear if the lender has traditional loan options or government-backed loan options, such as FHA, VA, or USDA loans. 

If you are interested in a conventional loan or a government-backed loan, you will need to contact Vanderbilt Mortgage to see which options may be available to you.

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The Bottom Line

Vanderbilt Mortgage should be at the top of your list if you are comparing financing options for mobile and manufactured housing. It is one of the few mortgage lenders that offers a variety of options for this kind of housing.

If you are looking for a mortgage lender with loan options for a traditional house then it would be best to look at other lenders that can better suit your needs.

Currently, Vanderbilt Mortgage reviews are very limited, and we are unable to provide an accurate recommendation of this mortgage lender at this time.

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Star Rating

3.9

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6 Reviews

Review Breakdown

5 grade

50%

4 grade

17%

3 grade

17%

2 grade

0%

1 grade

17%

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Sheila Henson Camden, MS

I was diagnosed with cancer Oct 2018 Glen P, is my loan officer. He is the most caring man, Since I started Chemo I can’t work as much because of the way it makes me feel. Some days unable to drive to work, or even get there on time or be able to go at all . So of course this made me fall behind financially. But he help me in every way he could, to hear someone ask how are feeling today and remembers how you felt from your last conversation a person you never met in your life. But his heart is pure as gold and I am so thankful for him. Glen P is an Angel on earth. Vanderbilt need more people like him! Sheila, Mississippi

3 years ago

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Eula Gill

I just bought a new home from Vanderbilt and I loved everyone that works on my home loan thanks you all so much maybe thair is something different from other mortgage I don't no but I do no if you can be helped Vanderbilt will do it

5 years ago

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juli fuller Panama City, FL

gentleman, Mr. M to be exact was very helpful. I had inadverdently put in wrong amount in payment window. Knowing that these funds were unavailable I called customer service. Mr. M was able to stop the payment without hesitation. Very helpful and friendly.

4 years ago

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Review Source

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Jesse Prince Tulsa, OK

I have had nothing but great experiences with Vanderbilt! Customer service is top-notch.

4 months ago

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Wayne Fuller Bloomfield, NM

Vanderbilt mortgage doesn't return phone calls and emails. One person Gale Phelps said I was fully approved and Tammy Jones told me 4 days later it was rejected . These people lie and deceive people. I make between $ 175,ooo and $240,000 a year . They only want to loan money to people they can foreclose on.

4 years ago

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Kenneth Bouldin

company only interested in getting their payments, not in working on reducing paymenyts

4 years ago