Not every buyer is in the market for a move-in-ready, single-family home. Just as each borrower has their own unique financial background, employment situation, and credit history, loan officers must also consider property types when matching customers with the mortgage loan that makes the most sense for their homebuying situation.

American Pacific Mortgage (APM) provides an expansive suite of products that fit the needs of every property type. From non-warrantable condos to new construction, fixer-uppers to investment properties and manufactured homes, APM provides the lending solutions that loan officers need to compete and win business in today’s housing market.

Manufactured Housing

According to the Manufactured Housing Institute, more than 21 million Americans live in manufactured homes, and there are currently 8.2 million manufactured homes in the U.S. This home type makes up 11% of new single-family home starts, and 61% of manufactured homeowners cite affordability as the reason they chose to purchase a manufactured home. 

As these homes are less expensive to build, manufactured housing continues to be a cost-effective solution to the challenges buyers face in today’s market, and they’re in high demand.

At APM, we offer loan options for different types of manufactured homes, including single-wide homes and manufactured homes that are more than 10 years old. We also provide renovation financing for manufactured homes as part of our specialty product suite.

Renovation Loans

According to the 2024 Houzz Renovation Trends Report, home renovation spending has increased steadily since 2020 to a median of $24,000 in 2023. Meanwhile, top-10% budget projects grew to a median of $150,000. The report also noted that 52% of homeowners surveyed planned to renovate in 2024.

With more homeowners opting to stay put and improve their primary residence, and buyers looking to make renovations to aging homes, access to an expansive suite of renovation products is a must-have in today’s market.

Our renovation home loan benefits include purchase and refinance transactions, multi-unit owner-occupied properties, single-unit second homes and investment properties, manufactured homes, fixed-rate and adjustable-rate mortgages, and more.

New Construction 

Some homebuyers want an existing home that’s move-in-ready, but many others want to build their dream home from the ground up. At APM, our loan officers can work with builders directly through our in-house construction lending department to meet the needs of their new-build buyers.

APM’s national construction lending team expertly guides our loan officers through the construction loan process, including managing builder approval, draw requests, and everything else between breaking ground and moving in. 

With up to 90% financing, post-construction and extended long-term rate locks, and timelines that exceed typical building parameters, we’re helping our loan officers dominate the new-construction market.

Investment Properties

Real estate continues to be a sound investment. According to CoreLogic, U.S. home values increased 4.9% from May 2023 to May 2024. That’s a number that should catch the eye of real estate investors and those looking to add real estate investing to their portfolio. 

Today, individual real estate investors account for 72.5% of rental properties in the U.S. (Pew Research Center). It’s important to have financing solutions for your investor clients.

At APM, we provide flexible investment property and jumbo financing solutions designed to fit the needs of today’s investors. 

Program benefits include:

• Loan amounts up to $3 million 
• Credit leniency for bankruptcy, foreclosure, and late payments
• Higher debt-to-income (DTI) ratio (up to 50%)
• Cash-out refinance up to $500,000
• Bank statement–based income documentation 
• DSCR loans
• And more! 

Condo Financing

Condos continue to offer many benefits for buyers—they’re often more affordable and require less maintenance. And many come with community amenities that single-family homes can’t compete with. But condos also carry their fair share of challenges when it comes to financing. 

At APM, we offer solutions for our condo buyers with loans that break the mold of conventional property financing. Our loan officers have access to programs that offer flexibility for various condo purchase scenarios, including foreign nationals, expanded DTI with ample reserves, non-warrantable condos, delayed financing, and gift funds on non-owner-occupied purchases. 

Luxury Homes

APM jumbo financing solutions were created to support borrowers who are looking to maximize their buying power with flexibility in how they do it. Some of our jumbo financing benefits include higher DTIs and alternative income documentation. 

Our portfolio of jumbo loan products also includes 1st and 2nd, more than a dozen delegated jumbo solutions, and delegated underwriting up to $3 million.

APM loan officers also experience the perks of having an in-house jumbo lending team that provides years of expertise in solutioning and supporting all things jumbo financing.

Nontraditional and Specialty Loans

In addition to offering conventional loans, FHA and VA loans and home equity loans and lines of credit, APM has a suite of non-QM products that help fit the needs of today’s borrowers.

From Individual Tax Identification Number (ITIN) loans, to bank statement income documentation or the self-employed borrowers, our product suite is vast. We also offer financing solutions for those with lower credit scores and those who need DTI flexibility. To learn more about our borrower-focused financing solutions, click here. 

Loan Options for Every Need

At APM, we pull out all the stops when it comes to making our loan officers look good and helping them compete and win business in today’s market!

If you’re ready to grow your business with APM, click here to connect with our team and request a compensation analysis of what your income would look like by partnering with APM.