Frequently Asked Questions

• What are the restrictions and requirements for a Direct Lending loan?

• What are the maximum fees charged for available services?

• What do I do if I updated my phone number, and I'm not receiving the multi-factor authentication text anymore?

• What do I do if I need to change my name or home address?

• Can I apply over the phone?

• Where do we apply?

• What do I do if I decide to change homeowners insurance companies?

• What happens if my payment gets lost?

• What if I do not receive my 1098 Tax Form or need a replacement?

• What should I do with the tax bill I have received?

• How do I payoff my loan with a one-time payment?

• My loan was paid off, but Vanderbilt is still showing as lienholder on my home title (title for the home only without land). How do I request a lien release for my home title?

• How do I enroll in or change automatic payment information?

• What if I believe I am no longer in a Special Flood Hazard Area?

• Who is to be listed as the Loss Payee on the homeowners insurance policy?

• What should I know before moving my home to a different county or out of state?

• Can I move my home?

• What can I do if I am worried about foreclosure?

• How do I choose a title company?

• Are you able to finance a home being sold by the estate of a deceased person?

• Can a home be moved?

• What is the minimum loan amount?

• The manufactured home I want to buy has an active title. Is that ok?

• Can I use land towards the down payment for the loan?

• What is your minimum down payment?

• Who can I buy a pre-owned home from?

• Do you offer financing on pre-owned homes that will be used for a business?

• Do you have a loan program for first time homebuyers?

• Can I finance a home that is or will be located in a park, community, or on a rented lot?

• Do you offer refinancing or home equity loans?

• The home I want to purchase has been moved more than once before, is that ok?

• Can I purchase the pre-owned manufactured home from one seller and the land from another?

• Do you require borrowers to pay for a home inspection?

• Do you require an appraisal? If so, can I use an appraisal I already have had completed for another lender or for a different purpose?

• What type of loans do you offer? Can I get an FHA/VA/USDA loan?

• How do I sell my home?

• I have received an insurance claim check. What do I do now?

• Who monitors Vanderbilt loans to ensure required homeowners insurance is in place?

• Is my loan assumable?

• Can I get a quote or receive help finding the right homeowners insurance?

• How can I tell if my policy premium has been paid?

• How to correspond with us.

• How do I obtain a payoff quote for my loan?

• How do I buy a home?

• How do I contact Vanderbilt about my mortgage claim?

• What if I am ineligible for automated phone or web pay?

• How can I stop automatic biweekly payments?

• How can I stop automatic payments?

• I am the new owner of this property. Why am I being billed for the entire year?

• Why did Vanderbilt pay my taxes without my authorization when I am not escrowed for taxes?

• What do I do if my current homeowners insurance policy is being canceled or non-renewed?

• If I change insurance companies, can payment for the new premium be taken from my escrow account?

• What is the proper way to endorse (sign) my insurance check?

• How can I tell if Vanderbilt has received notice that my homeowners insurance was renewed?

• Can I send my color pictures of completed repairs via the web?

• How do I file a claim for damage to my home?

• Where will the Title be mailed, if I refinanced my home?

• After my loan is paid off, when will I get my documents?

• What is Private Mortgage Insurance?

• What is an Advance?

• How is my initial tax escrow payment calculated?

• What is escrow?

• Is there a penalty if I pay off my loan early?

• When will I receive a refund for any overpayments that may have been made when paying off my loan?

• When will my land be released once my loan is paid in full?

• What is the difference between the current principal balance and the payoff quote?

• What type of insurance coverage is required?

• How do I update my homeowners policy information?

• What is Lender Placed Insurance Coverage?

• Why do I have to carry flood insurance on my property?

• When will you mail my 1098 Tax Form?

• Can I get my 1098 Tax Form sooner?

• Is an Escrow Account required for my property taxes?

• How do I repay the Advancement for taxes paid on my behalf by Vanderbilt?

• How can I lower my taxes?

• Why did my tax escrow payment increase?

• I sold this property. What should I do with the tax bill?

• What Payment Options are available to me?

• Where do I mail my payment?

• How do I change my bank account information on my automatic biweekly draft?

• What information do I need to be set up on a Military Allotment?

• What if I pay less than the full payment amount?

• What is simple interest?

• How do we calculate your payment and when are payments due?

• What happens if you pay early?

• What happens if you pay late?

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