Vanderbilt Mortgage Logo

Vanderbilt Mortgage

Is This Your Business?
star star star star star_border
6 User Reviews
error This company may not service all states.
See states serviced
LAST UPDATED: May 10th, 2022

Vanderbilt Mortgage offers a variety of home loan products—serving homeowners for over 40 years and helping 200,000 borrowers obtain loans. It offers traditional home loans, but 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 reparis. If you need to fianance a new home or just do a few upgrades, Vanderbilt Mortgage can help with both.

Vanderbilt Mortgage is dedicated to empowering potential homeowners with the knowledge and resources that they need to make the best decision for them. Its website offers comprehensive information that is beneficial to first-time homebuyers that don't know much about buying a home loan.

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

Top Ranked Companies

thumb_up

The Good

  • Manufactured & Mobile Home Financing
  • Specialty Upgrade Loan
  • Manufactured & Mobile Home Tools
  • Homebuying Resources and Education

Manufactured & Mobile Home Loan Financing

Vanderbilt Mortgage is unique because it specializes in a variety of financing options for manufactured and mobile homes. Some of its financing options include new and used manufactured and modular home financing and land financing as well. Below are two specific loan options that are incredibly unique to Vanderbilt:

Biweekly advantage mortgage: This unique loan is structured so that your normal monthly mortgage payment is broken up into two, lesser monthly payments, one every two weeks. The reward of doing this is that you pay more of the principle up front first and increase your odds of paying off the loan.

Land home mortgage: If you are looking to buy a mobile home and the land to put it on then this loan wraps up all the costs for your new home, land, land improvements and fees all in one loan with one payment.

If you are in the market for a mobile home or manufactured housing then Vanderbilt Mortgage is one of the best options to secure this type of loan.

Specialty Upgrade Loan

Vanderbilt Mortgage has a specialty loan option called a Home UpGrade loan (HUG). The HUG loan makes it easy to finance energy efficient upgrades or emergency repairs on your manufactured home. With this mortgage loan, Vanderbilt Mortgage aims to make the loan easy to access, hoping to encourage borrowers to make their homes more green and energy efficient for the environment. Here are the loan guidelines:

  • Loan amounts from $2,500 to $25,00 (varies by credit score)
  • Long term financing (5–10 years)
  • Affordable monthly payment
  • Zero prepayment penalty
  • Transparent loan application

If you already have a home loan for your mobile home, then this specialty HUG loan is a great options if all your needing is a few upgrades.

Manufactured & Mobile Home Tools

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.

Not all lenders offer these speciality tool and expertise, making Vanderbilt a great option if you are hoping to purchase this kind of home.

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, there are many tools and resources that will be especially beneficial to you.

thumb_down

The Bad

  • Undisclosed Details

Undisclosed Details

Vanderbilt Mortgage has not disclosed details about the type of loan options for traditional mortgages. Those that are looking to by a traditional home will need to contact one of its representatives to have more information about the options.

In addition, Vanderbilt has not disclosed information about its lender fees, closing costs, or credit score requirements. This may be frustrating for borrowers who would like to have more information, but it is not very common for mortgage lenders to divulge these factors without getting further along in the application process.

gavel

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.

On the other hand, 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.

View Best Home Loan Companies

Was this content helpful?
thumb_up Yes thumb_down No

Star Rating

3.9

star star star star star_border

6 Reviews

Review Breakdown

5 grade

50%

4 grade

17%

3 grade

17%

2 grade

0%

1 grade

17%

Sentiment Criteria

Value

star star star star star_border

Quality

star star star star star_border

Service

star star star star star_border

Trustworthiness

star star star star star_border
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
check_circle

Review Source

star star star star star

Jesse Prince Tulsa, OK

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

1 week ago

star star star star star

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

star star star star star

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

star star star star star_border

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.

3 years ago

star star_border star_border star_border star_border

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

star star star star_border star_border

Kenneth Bouldin

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

4 years ago