21st Mortgage Corporation

21st Mortgage Corporation Reviews

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Written by Jennifer Schurman
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Edited by Sally Jones

About 21st Mortgage Corporation

21st Mortgage Corporation (NMLS #2280) is a full-service lender that helps people find and pay for mobile or manufactured homes. It offers loans for up to 100% of the cost of your home and land. 21st Mortgage operates in most of the U.S. but not in Alaska, Hawaii, Massachusetts or Rhode Island.

Pros
  • Offers options for 100% financing
  • Fixed interest rates
  • Private mortgage insurance isn’t required
Cons
  • Only available for manufactured and mobile homes
  • No pre-qualifications or preapprovals
  • No loans for properties in bad condition

Featured Reviews

Jasper, AL
Verified purchase
21st Mortgage had the best rate as far as refinancing a pre-owned mobile home, so I chose them. Communication was good and everything was done through email. If I had any question...

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Olmsted Township, OH
Verified purchase
The application process was easy. They approved me and did the mortgage on the home I found. My rep Lindsey kept me informed on the process, what they were waiting for and what wa...

Read more

Rates

21st Mortgage Corporation claims its rates typically range between 6.35% and 11.99%. Rates can vary depending on your credit history, loan amount, home’s age, loan amount, loan-to-value (LTV) ratio and other qualifications.

21st Mortgage Corporation only offers fixed-rate loans. Borrowers often prefer fixed-rate mortgages if they like knowing their monthly payments won’t change. Adjustable-rate mortgages may have lower rates for the first few years, but their rates could increase later on and cost you more in the long run.

In 2021, 21st Mortgage’s rates were significantly higher than the national average (up 4.77%). However, it’s important to note that 21st Mortgage is one of the few lenders that offer loans for manufactured or mobile homes. Interest rates for this type of housing are typically higher than rates for other types of home loans. The company also works with borrowers who have lower-than-average credit scores and may only qualify for higher-than-average rates.

21st Mortgage Corporation average home purchase rate vs. national average

Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

Getting a home loan from 21st Mortgage Corporation differs from most mortgage application processes. Before you apply, you need to find a mobile or manufactured home and sign a purchase agreement with the seller.

You can then apply for a loan by visiting 21st Mortgage Corporation’s website. It will typically ask for proof of identity, income, employment and residency in addition to other financial documents. The company will also run a credit check to determine how much you can borrow. Once you complete and submit an application, a mortgage loan officer will reach out to you with an approval decision.

The entire process, from the loan application to the closing, should take four to eight weeks, depending on the type of property you’re buying. The application process is online, but the company is supportive and works with customers who need help submitting documentation. Eva, a ConsumerAffairs reviewer from Prairieville, Louisiana, had this to say about their experience with 21st Mortgage Corporation:

“I hate doing stuff online and I would rather had been there to sit down with 21st Mortgage, but they're not here in Louisiana. … The rep was great. … Sometimes I felt like I was bothering her, but she said that was what she was there for. She was easygoing and nice.”

21st Mortgage Corporation application features

Loan types

21st Mortgage Corporation offers fixed-rate loans specifically for manufactured or mobile home purchases and refinances. The company offers terms of up to 30 years, depending on the type of home and property you purchase.

In 2021, 21st Mortgage received 172,168 home purchase loan applications. Of those, 29,107 (about 17%) were closed. About 49% were denied.

Loan applications for home purchases only by year

Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

While 21st Mortgage does offer refinancing options, most of the loans it originated in 2021 were for home purchases (about 98%). It’s unlikely the company will significantly increase the amount of refinances it does in 2022.

In 2020 and 2021, historically low interest rates motivated many borrowers to refinance their existing mortgages. However, rates have risen throughout 2022, so it may make less sense to refinance now. According to the Federal Reserve Bank of St. Louis, average 30-year fixed mortgage rates were as low as 2.87% on Aug. 12, 2021. Roughly a year later, they were at 5.22% and rising.

Home purchase vs. refinance loans by year

Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

Requirements

Borrower qualifications for manufactured and mobile home loans often look different than traditional loan requirements. For most conventional loans, you’ll need at least a 620 credit score and a 3% down payment. Loans for manufactured homes can have lower credit score requirements, but you may also need to offer a higher down payment.

21st Mortgage Corporation does not have a minimum credit score requirement, but borrowers with less than a 575 credit score may have put down at least 35% to qualify. The company states that typical down payment requirements range from 5% to 35%, but there are also 0% down options available.

To put these requirements in context, check out the table on common mortgage requirements below.

National mortgage requirements by type

21st Mortgage also has requirements that your home must meet to qualify for financing. For example, the structure must have working plumbing and wiring, and it can’t be in need of extensive repairs.

Costs and fees

21st Mortgage Corporation charges fees for origination, credit reports, title transfers, appraisals and other services when applicable, and you can finance all closing costs except for appraisal costs and recording fees. However, it doesn’t publicly share much information on how much these fees may cost you.

With a normal mortgage, you can expect to pay 2% to 5% of the loan amount in closing costs. Closing costs may include homeowners insurance premiums, home appraisal services, title fees, origination fees and property taxes. Unlike other mortgage lenders, 21st Mortgage does not require PMI (private mortgage insurance) on loans it originates.

It’s important to note that, even though the company doesn’t openly disclose its fee amounts, you still have a right to access that information prior to signing any loan agreement. Lenders must give you a written document, called a Loan Estimate, outlining the loan terms (including fees) after you apply.

FAQ

How does 21st Mortgage Corporation work?

Once you’ve found a home and signed a purchase agreement, go to “Apply Now” on 21st Mortgage Corporation’s website to apply for a loan. From there, create a profile and start an application.

After you have submitted your application, a 21st Mortgage loan originator should reach out to you with an application decision. If approved, you can move forward to receive a loan for your manufactured or mobile home. The whole process should take as little as four to six weeks for home loans and six to eight weeks for home and land purchases.

Is 21st Mortgage Corporation legit?

21st Mortgage Corporation is a licensed lender that owns and services over $9 billion in loans. It claims to be the nation’s largest manufactured home lender, and it’s owned by Clayton Homes, one of the largest builders of manufactured and modular housing in the country. Clayton Homes itself is owned by Berkshire Hathaway Inc.

Where is 21st Mortgage Corporation available?

21st Mortgage is available in 46 states and Washington, D.C. It’s not available in Alaska, Hawaii, Massachusetts or Rhode Island, and combination land and home loans are not available in the following Illinois counties: Cook, Kane, Peoria and Will.

21st Mortgage Corporation Reviews

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    2 featured reviews
    How do I know I can trust these reviews about 21st Mortgage Corporation?
    • 4,606,585 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 5
    Verified purchase
    Customer ServicePunctuality & SpeedStaffLoan Process

    Reviewed Jan. 12, 2025

    I heard about 21st Mortgage Corporation through the realtor who sold the property, and it caught my attention. I reached out to them by phone to confirm they cover the area and began the application process. Even though it seemed like I was entering the same information multiple times, the representative I worked with was incredibly helpful and guided me in the right direction. She was always available to answer questions and ensured everything was in order.

    My main concern was ensuring the process went smoothly, primarily because I received automated notifications about incomplete information. However, thanks to the representative's support, any confusion was cleared up quickly. It's not something I do every day, yet it was manageable. Selling my previous home took a similar duration, which I expected. Even though it took a month, the timeline was standard, and once we agreed on a price, everything fell into place nicely.

    The process itself was relatively straightforward, though delays with third-party inspections during the holiday season slowed things down. The inspection process was somewhat frustrating, as it was slow and not satisfactory. This delayed the entire process and made us start from the beginning again, but I understand these are typical hurdles during the holidays.

    What impressed me most was their ability to finance a mobile home, especially considering its age. Many other companies would outright reject financing such a property. As someone recently divorced and needing a quick solution, 21st Mortgage was empathetic and efficient throughout the journey. Despite the heavy reliance on third-party processes, their internal support was remarkable, and I always had someone to contact for assistance.

    Overall, their support staff was outstanding, always providing the help I needed exactly when I needed it. Even my agent contacted them occasionally, and they were consistently accommodating. They made what could have been a challenging situation seamless, fulfilling my needs despite the common issues with third-party interactions. Overall, their service is one I would highly recommend to anyone in a similar situation.

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      Verified purchase
      Customer ServiceStaffLoan Process

      Reviewed Dec. 3, 2024

      I bought the house off of a family member and it was already financed through 21st Mortgage. It was a new loan but they already had all the information so it was the easiest way for me since I work out of town. I was able to do it all online with 21st Mortgage. Otherwise, I have to do it all in person in my local bank that I would have used. The customer service was good and very helpful. If I send them something at 6 o'clock in the morning, as I was going to work, they always had a response usually at about 1:00 in the afternoon, just letting me know they received it and it was approved or there were certain documents that I had to submit. I sent all the pictures from my iPhone and the hardest problem I had with them was just making sure that the picture was good enough quality for them to receive it and be able to put it into a file on their side.

      The rep I worked with works with multiple people. If I called and told them that I was trying to get ahold of my loan officer and he was unavailable, someone else would work it and they did just as good, if not, it was just like it was him. They had all the information and knew all the answers. If I needed something, I would submit it and it would go to underwriting. They would call down and see if it got approved or they were on top of it if there was anything else I needed to do. From start to finish, we had our house and our whole loan done within a month. So, that was good. The deal that I got on the house was such a good deal. I wasn't even looking to buy a house but I couldn’t pass it up. It was only $2,000 in charges and 21st Mortgage took care of everything. All I did was send in stuff that they asked for and they sent me an email at the end and said that it was mine. It was easy.

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      Verified purchase
      Customer ServicePunctuality & SpeedStaffLoan Process

      Reviewed Nov. 10, 2024

      The people that I've worked with have been very, very nice, but it was an extremely long process. Before, I was looking at a traditional home and had approval for a traditional home. Then we found a mobile home that we liked and decided to go that route and the loan process for the mobile home was a lot longer and took a lot more time than a traditional mortgage, which doesn't really make sense to me. I was in the dark about the time frame. Other than that, the process was great. Not having to meet in person was beneficial because my work hours are standard to what most mortgage firms hours are as well. So being able to do it completely online worked better for my schedule. I just wished that they would have been able to tell me more of how long the process was going to take and other options in regards to getting it done quicker because I was not expecting it to take longer than a month, let alone close to two months.

      I was perfectly comfortable with everything that they asked because I knew what to expect going into a mortgage. They didn't ask anything that I thought was going to be out of the ordinary. I did run into one problem, but this was my fault. I had lost my Social Security card and needed to have that and they said the only way that they could move forward was with that. Over time though, I was able to talk to someone else and they said that they could request it from the Social Security office. So they were able to do that eventually. But for a long time, that procrastinated it because they said I needed a physical card. So I had to wait for it.

      Lindsay was great. She answered when she was available. She answered the phone pretty quickly and was pretty prompt to email responses. Near the end of the process, she was out of office a lot. But I wasn't informed that she was going to be out. The only thing was that it was a mess between me getting pushed around to different officers filling her position.

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      Verified purchase
      Customer ServiceStaffLoan ProcessTransparency

      Reviewed Sept. 11, 2024

      I called mortgage companies to see who would finance a double-wide manufactured home in a park, but nobody did it. Then I called 21st Mortgage and told them our situation, that we didn't have the best credit. They said, “That's okay. We'll still finance you. You just may have to pay a bigger down payment.” My husband's brother tried to get us to go a different route but it didn't work. I thought of trying 21st Mortgage again. I did and got an email from them that said they could not approve our loan, but they had some programs that would work for us and to give them a call. I called them and talked to a gal. She said, "We're gonna approve you. You just need to pay off one thing.”

      They sent me a list of things that they needed and I started sending in everything. It was all done online and they had it easy for us to submit. There were a couple of items I had to fax because I couldn't get the pictures clear enough for them to see. The thing that took the longest was the owner having to get certain documents on the home. Once 21st Mortgage got one of the documents they needed from them, then they did an appraisal. They found some things that needed to be repaired so we repaired those. They needed a copy of the title as well.

      They tell you upfront it's gonna take 30 to 45 days to close. They said, “If it goes past this date, we'll have to requalify." We were right at that date, but they still hadn't turned in that paperwork. But our loan officer, Justin, was amazing. Every time I had a question and was nervous about something, he'd tell us not to worry about it and that he'd take care of it. When I didn't know what to do, he told me exactly what I needed to do.

      21st Mortgage took care of everything. It was a long process, but I loved it. They have their own insurance company so I didn't have to worry about shopping for insurance. I may, later down the road, ‘cause I want a little more coverage in some areas. If I’d go to do it again, and if I'm still in the situation I am now, I'd call 21st Mortgage again. I am thrilled with them, and I'd recommend them highly. They worked with us every step of the way. The only part I didn't like was at the very end when we went to close. We had to close locally with an escrow company. It took another 48 hours for the escrow company to send the paperwork to 21st. Then 21st took 48 hours to do the paperwork and I didn't find out from 21st that it was all said and done. I found out from the realtor. But I found an email in my other email account from Justin, telling me that the loan had closed and he gave me our loan number.

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      Verified purchase
      Customer ServiceStaffEase of UseLoan ProcessRatesTransparency

      Reviewed April 4, 2024

      We're here in California and the housing market is outrageous. We decided to move into a manufactured home until we were limited on who would provide financing for a manufactured home in a 55 and older community. We went online and 21st Mortgage offered us the opportunity first. On three occasions in the whole process, we had to send multiple email chains, and on two of them, we had to have our real estate agent help us because Teresa, our loan officer, was out of town. She had a planned vacation. But as soon as Teresa got back in the office, she saw the email chain and took care of everything.

      The person under Teresa was not responsive to any outreach at all and that was very frustrating because we had an offer on a home and we needed to get to the next steps to where we could get the inspections. Even though we had a few things that I had sent over, the person who was supposed to be getting the information was saying I never sent it. Teresa got right on it and got it all taken care of, and sent me the updates right away. So, she was extremely knowledgeable. Even though we had some hiccups, because of her responsiveness, it allowed us to close earlier than we had expected. We were told we wouldn't close until the end of February or near the end. But from the time we started looking to where we put our offer, we were done with closing in less than 30 days.

      Teresa was good. As soon as we were able to schedule an inspection, she sent me the invoice and I paid it that day. When I was struggling to get Homeowners Insurance here in California, because a lot of people are not insuring here, she was able to help us identify some potential companies alongside my real estate agent so we could get our homeowners insurance. So, we got that right away. When it came time for the appraisal, she sent me the paperwork right away and I was able to pay for it right away too. Everything was already sitting in our escrow account, ready for close.

      The website was easy to navigate. I'd go in, click on the button and it would bring all the documents that were still needed. Then they would have all the ones that were received and the day they were received. I am posting so that I know exactly what I have left and when we didn't need anything else, that it was just us waiting on them to send the invoices for the inspection, they let us know to expect that any day within the next three days and that we'd probably receive the invoice for the home inspection.

      Our percentage rate was a little higher than what I would have liked but I also understood because I don't have a lot of credit. I understood that we had to start at a higher rate but 21st Mortgage also let us know we could refinance in six months and bring the rate down lower. It still works with my budget though it’s a little tighter but it's not impossible. I don't have a car loan so I didn't have credit built on that. But 21st Mortgage was good about taking that into consideration and that we weren't so loaded down with debt that we wouldn't be able to make our payment. They gave us a decent rate, considering that we didn't have a super high credit score.

      Our loan officer was fabulous and has built good relationships with a lot of the real estate agents. I was surprised because my real estate agent and even the person who oversees the community where we live was very familiar with our loan officer and was able to say 21st was gonna send him this once we get the final approval and it passes all the inspections and the appraisal. So that alone was a huge thing because I bought a home in the distant past and I remember nobody I dealt with knew anything about them. But this particular loan officer was amazing. And they said that they do a lot of business with 21st because 21st is one of the primary people that loans for manufactured homes.

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      Verified purchase
      StaffLoan Process

      Reviewed Feb. 4, 2025

      Cole is the best loan officer. This my 1st time buying a home and help me understand guidelines I wasn’t aware of and doing a family emergency. He guide me thru process to get on track with mortgage. He is professional and knowledgeable. I thank God for 21st Mortgage. And Cole being such a courteous loan manager.

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      Loan Process

      Reviewed Feb. 3, 2025

      Hi. Had a pleasant experience with Delana. I needed a copy of my title so I could get a loan on a roof replacement and I needed pretty quick. Within hours I had the title and was able to conclude the roof replacement loan. Thanks Delana.

      Gary

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      Verified purchase
      Loan Process

      Reviewed Feb. 3, 2025

      Do not use this company. They are not upfront with you. We used them with the intention of getting our home on a permanent foundation to refinance into a VA loan. Nowhere along the way did anyone say that they do not release loans as “real property” until the loan is fully paid off. We were told the 1st time that it’s because the land wasn’t included. After calling later to refinance and add out land to the loan they said, “oh no, we don’t do that” and it would not be listed as “real property” no matter what until the loan was paid off because they “just don’t do that”. Do not use them or you will regret it.

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      Verified purchase

      Reviewed Jan. 31, 2025

      Caleb ** has been an incredible help getting my mortgage payments done twice a month and answering any questions I may have. Thank you Caleb. I appreciate you and the time you take to help me every time and for always keeping me updated on any changes. I couldn’t be happier with his service.

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      Verified purchase
      Customer ServiceLoan Process

      Reviewed Jan. 29, 2025

      I decided to work with 21st Mortgage mainly because they're one of the few companies that offer loans for mobile homes. However, the lending process was quite a hassle. I ended up accidentally opening three different accounts, and receiving emails from several people, which added to the confusion. It was challenging to manage the different account numbers and pre-approvals needed every time I looked at a different mobile home. Additionally, communication was all done via email, making the process feel very impersonal. I felt like just another number, with the representatives aiming to push the process through for their benefit. Overall, while I eventually got a loan for a trailer, the entire experience was frustrating and unsatisfactory. I wouldn't recommend 21st Mortgage to others.

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      Sources

      Sources
      ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page .
      1. NMLS Consumer Access, “ 21st Mortgage Corporation .” Accessed August 23, 2022.
      2. Federal Reserve Bank of St. Louis, “ 30-Year Fixed Rate Mortgage Average in the United States .” Accessed August 23, 2022.

      21st Mortgage Corporation Company Information

      Social media:
      Company Name:
      21st Mortgage Corporation
      Address:
      620 Market Square
      City:
      Knoxville
      State/Province:
      TN
      Postal Code:
      37902
      Country:
      United States
      Website:
      www.21stmortgage.com