Newman’s also gladly will help you apply for financing for your new home.
Simply put, we want your business and we work hard to offer financing programs that fit your family’s financial needs.

Preparing Your Financing Application

To help streamline your home loan process, click APPLY ONLINE, and get the ball rolling. You can apply for financing and submit it without even visiting our office. Once you have applied online, you will get a call from Newman’s to set up an appointment to meet with us. Bringing required personal documents with you at this time will make sure that the process is as swift and easy as possible.

Here is a list of document you will need to bring with you to your appointment:

    • Copy of valid Driver’s License for each applicant.
    • Copy of Social Security Card for each applicant.
    • Payroll stubs (Most Recent) for each applicant.
    • Tax returns/W-2’s for the last two years for each applicant.

Types of Financing For Manufactured Homes

  • Chattel Financing – This loan is a simple home-only purchase that doesn’t encumber the land. Depending on your credit score, your down payments will range from 5% – 20% of the purchase price.
  • Your Bank – This option allows you to work with your local bank and secure your funds. We would be more than happy to work with your local banker in the case that you find outside financing.
  • Land in Lieu Financing – Use your land as your down payment on your new home. Many customers choose this option in lieu of investing cash as a down payment. With this option, your land acts as collateral for the mortgage. Appraised values of the land do have a bearing on the down payment. Some restrictions may apply.
  • FHA Mortgages – Newman’s Home & Land has the ability to assist you in securing a FHA mortgage for your new home.
  • Cash – Some buyers may choose to purchase their home outright and pay cash. We offer special incentive pricing for cash deals.

Qualifying For Financing

A lender will assess the credit profile of applicants. Credit scores and credit histories for all borrowers will play a part in the assessment.

Borrowers will need to provide detailed proof of regular and predictable income. Employed borrowers will be required to provide W-2’s and check stubs. Self-employed borrowers generally need to be prepared to provide two full years of tax statements. In some circumstances bank statements may be needed as well to document income.

Lenders will typically evaluate the debt to income ratios of a borrower. The objective will be to establish how the new obligation will fit with current obligations. This is done to insure that the payment is suitable for all parties.

Programs For All Situations

We pride ourselves on placing customers into the home of their dreams. We realize that every credit situation is unique. We strive to offer a program that will fit your family’s financial wants and needs. If you are ready to start the process of purchasing a manufactured home from Newman’s Home & Land, fill out the application and we will discuss what programs might fit your needs.

The Home Loan Process

Home Only Financing 
At Newman’s, once you’ve contracted for the purchase of a home you’ll need to decide what type of financing is right for you, then apply for financing if necessary. You can apply online, and we should contact you with-in 24 hours and set up an appointment for you to come to our lot and you will need to bring all your supporting documents to our office. Your completed credit application, together with a copy of the Purchase Agreement or Buyer’s Order, is sent to our lender and is under review. Once approved, details such as interest rate, terms, and stipulations required to complete the borrowing transaction will be provided.


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Address Info:

Newmans Homes
3733 North Alexander Drive
Baytown, TX 77520
Mobile | Modular | Used
Phone: 832-556-8575
Cell: 281-217-0428
Fax: 888-354-1832
TMHA Member