Financing Options for Unibilt Challenger Series Homes

Local Conventional Financing

As with all Unibilt homes, our Challenger Series homes are typically financed through local lending institutions which offer both long term fixed rate and variable rate conventional mortgages. These loans typically require a minimum down payment of 10% or 20%. Interest rates are competitive and the term of the loans may very from 15 to 30 years.

Mortgage Broker Financing

Additionally, mortgages can be obtained through mortgage brokers who offer not only conventional loans but low down payment, government insured FHA, VA or USDA loans. FHA requires a minimum down payment of 3.5%, while VA and USDA require no down payment. Government insured loans are normally 30 year fixed rate loans.

Rural Development Housing's Direct Loan Program

The Challenger Series of homes is specifically designed to qualify for both conventional financing and the Rural Development Housing’s Direct Loan Program. This special government program is funded by Congress and administered by the United States Department of Agriculture. The Direct Loan Program is designed to provide home ownership in rural areas for families earning below 80% of the area’s median income. Homes must meet government construction standards, be energy efficient and modest in size; between 1000 and 1500 square feet and costing between $130,000 and $165,000. Most qualifying homes will have 2, 3 or 4 bedrooms and 2 baths. Home plans may include porches and two car garages.

Incredibly attractive financing terms are available for qualified applicants. No down payment is required. Your interest rate may be as low as 1% depending on income. Loans are for 33 or 38 years. To qualify applicants must have a good credit history with a minimum credit score of 640. Total monthly debt payments cannot exceed 41% of Adjusted Family Income. Payments including principal, interest, taxes and insurance will many times be lower than monthly rent payments.

→ Find out if you're eligible for a USDA Rural Development Housing Direct Loan program

Your Unibilt Builder Can Help You Find Financing Get Started Now

Your Unibilt Builder can assist you with your financing. They have good working relationships with the local lenders in their marketing areas; furthermore, Unibilt works directly with Wells Fargo Home Mortgage for conventional, FHA, VA and USDA guaranteed loans. Unibilt Builders can also assist you with the USDA Rural Development Housing’s Direct Loan Program.

Back To Top