MARYVILLE, Tenn., Dec. 30, 2020 – Vanderbilt Mortgage and Finance, Inc., a Berkshire Hathaway company, continues to work towards making the loan process easier for customers to understand and complete.
Most recently, Vanderbilt launched a new video promoting its easy loan process. Over the last two years, Vanderbilt has released an updated home loan guide, which includes dozens of tips within helpful articles designed to explain the loan process to customers and ensure they are prepared during each step of their home buying journey. Vanderbilt also enhanced its online application to simplify the process for customers.
2019 VMF Home Loan Guide
In order to measure the effectiveness of these efforts, Vanderbilt launched an internal feedback system asking customers how easy the application and overall loan approval process was. This scoring system is based on a scale from 1 to 10 – 1 being the most difficult and 10 being the easiest. In 2020, Vanderbilt scored a 9.2 out of 10 with 1,267customers surveyed. These results show the effectiveness of the new digital tools for customers and offers insight regarding where Vanderbilt can provide more assistance.
“Getting a home loan should not be an intimidating and difficult process, and we are continuously working to make the home financing journey – from application to closing – as easy as possible,” said Eric Hamilton, President of Vanderbilt Mortgage and Finance. “A seamless home loan process greatly improves the customer experience, which is at the heart of our business.”
Along with making the loan approval process easier for customers, Vanderbilt is continuing its program offering no payments for 60 days*. This program automatically extends most new customers’ first mortgage payment due date for 60 days after their loan funds. This gives customers extra time to focus on paying the costs of moving in, without worrying about their first mortgage payment coming due immediately. Apply now to take advantage of this program.
To see more educational resources geared to helping first-time home buyers learn more about the home loan process visit www.vmf.com.
About Vanderbilt Mortgage and Finance, Inc.
Vanderbilt Mortgage and Finance, Inc. is a national housing lender that specializes in financing manufactured homes. In business for more than 40 years, the company currently services more than 200,000 home loans and works hard to tailor loans to each family’s needs. For more information, visit www.vmf.com.
ALL LOANS SUBJECT TO CREDIT APPROVAL.
*No payments for 60 days (the “Program”): Portfolio loans only, not available with FHA. Program available for applications submitted beginning July 1, 2020 for loans to finance the purchase of new manufactured and modular homes from a Clayton Family of Brands retailer (“Seller”). All loans are subject to credit approval. For eligible loans, the first payment due date will be extended with no additional interim interest to a minimum of 60 days after funding. For example, if the loan were to fund in June 2020, the first payment due date will be extended from August 2020 to September 2020. Funding occurs after the closing date when the new home is delivered, installed, the requirements of occupancy and all of Vanderbilt’s requirements for the loan are completed. Closing means the signing of both the Seller’s sales documents and Vanderbilt’s loan documents necessary to finance the purchase of a new home. Vanderbilt reserves the right to cancel this Program at any time.
Vanderbilt Mortgage and Finance, Inc., 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS #1561, (https://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged pursuant to a California Finance Lenders Law license, GA Residential Mortgage (Lic. #6911), Illinois Residential Mortgage Licensee, Licensed by the NH Banking Department, MT Lic. #1561, Licensed by PA Dept. of Banking. Equal Housing Opportunity.
Caitlyn Crosby | Media Relations