See the mortgage options Vanderbilt Mortgage and Finance could offer you
Vanderbilt Mortgage and Finance has been helping families across the United States make their home ownership dreams come true for more than 40 years. Currently servicing over 200,000 loans, it offers financing solutions to suit a wide variety of borrowers.
Who is Vanderbilt Mortgage and Finance? What does Vanderbilt Mortgage and Finance do?
Vanderbilt Mortgage and Finance is a national housing lender that provides and services a number of home loan programs. With a mission to help more families realize the Great American Dream of owning their own home, it offers competitive financing backed by personalized customer service.
Vanderbilt offers traditional home loans, Federal Housing Administration (FHA) mortgages, loans for those looking to buy land, and loans with a range of flexible features to provide the opportunity for quick repayment. Loans can also be quickly and easily applied for online.
Home loans offered by Vanderbilt Mortgage and Finance
A Vanderbilt Mortgage and Finance Conventional Mortgage offers financing for the purchase of manufactured, modular, and mobile homes. Available for those looking to buy their first home or their next home, these loans feature competitive rates and flexible features that can be tailored to suit your individual needs.
Biweekly Advantage Mortgage
Instead of making monthly payments towards the amount you borrow, this mortgage allows you to make a half payment every two weeks. This means that more of your money can be put towards paying off the principal of your loan and therefore pay off your debt more quickly.
Land Home Mortgage
A Vanderbilt Mortgage and Finance Land Home Mortgage is designed for borrowers who own their own land and would like to build a home or would like to finance a land purchase and the construction of a home. Your mortgage payments and fees for your land purchase and the cost of building your home can be combined into one payment for added convenience and simplicity.
Backed by the Federal Housing Administration, this type of mortgage helps first home buyers qualify for a loan. With lower down payment requirements and less strict lending criteria, it also features competitive interest rates.
Pros and cons of Vanderbilt Mortgage and Finance home loans
- Options available. Vanderbilt Mortgage and Finance provides a range of financing options to help you find a mortgage with a competitive rate and features that match your needs.
- 40 years of experience. Vanderbilt Mortgage and Finance is a trusted mortgage lender with more than 40 years of experience and currently services over 200,000 loans.
- Simple application process. It’s quick and easy to begin the application process online for a home loan from Vanderbilt Mortgage and Finance.
- Limited information available. With limited details available on the Vanderbilt website about interest rates and other loan details, you’ll need to contact the lender directly for more information about the features of each mortgage.
How to apply for Vanderbilt Mortgage and Finance home loans
If you’ve compared a range of mortgage options and decided that a home loan from Vanderbilt Mortgage and Finance is the right option for you, click the link on this page to be securely redirected to the lender’s online application portal. During the application process, you will need to provide a wide range of information, including:
- Information about the property. You’ll need to supply the address where the property is located, whether it will be your primary or second residence, and the amount of the down payment you have saved.
- Personal information. You’ll need to provide the name, address, date of birth, and Social Security Number of each borrower. You’ll also need to provide your email address, phone number, and marital status as well as details of your current living arrangements.
- Employment information. You will need to provide details about your employer, including the company name and contact details, as well as how long you’ve been working there and your monthly gross income.
- Other income. You’ll also need to detail your other sources of income.
- Assets and liabilities. Vanderbilt Mortgage and Finance will need to know details of your loan payments, alimony and child support, credit card debts, and other liabilities. Your monthly household living expenses will also need to be provided as well as the balance of your checking and savings accounts.
- Declarations. Next, you’ll need to specify whether there are any outstanding judgments against you or if you’ve ever had a bankruptcy, repossession, or foreclosure in the last seven years.
Once you’ve reviewed all information and submitted your application, a loan specialist from Vanderbilt will contact you to discuss your borrowing needs.
Vanderbilt Mortgage and Finance provides a range of competitive mortgage options for American families, so compare its home loans with those from other lenders at finder.com today.
Frequently asked questions
How is my initial tax escrow payment calculated?
Your initial tax escrow payment is determined at the time you apply for financing of your home (or land if land is included with your mortgage), based on the value of your property. Your initial escrow payment is 1/12th of your annual property tax estimate. Your annual tax escrow projections will be determined by taxes owed and paid the previous year.
How do I obtain a payoff quote on my loan?
You may obtain a payoff quote immediately by logging in to your online account. You may also call Vanderbilt’s customer service department at 1-800-970-7250, fax your request to 1-865-380-3418, or submit a request by email or mail.
What is the difference between the current principle balance and the payoff quote?
Current principal balance: The amount still owed on the original amount financed, not including interest or any other charges.
Payoff quote: The total amount owed to pay off the loan including any and all interest and/or finance charges.
When will I receive a refund for any money overpaid when paying off my loan?
Any refunds due are mailed 21 days after the loan is paid in full.