Top 7 Triad Loan Requirements You Must Meet to Get Approved Fast

When it comes to financing a manufactured or modular home, Triad Financial Services is a trusted name in the industry. Whether you’re buying your first mobile home, upgrading your current one, or seeking refinancing, understanding Triad loan requirements can make the process smoother and faster. This guide breaks down everything you need to know — from credit scores and income qualifications to property types and documentation — to help you secure approval.

 What Is Triad Financial Services?

Triad Financial Services, Inc. is a national leader in manufactured home lending, offering loan products in 45+ states. With over 60 years of experience, Triad specializes in financing for manufactured and mobile homes, both on leased land and private property.

Triad works directly with dealers, retailers, and community developers to help consumers find the right loan for their housing needs. If you’re exploring manufactured housing as an affordable living option, Triad is a key player to consider.

 Who Can Apply for a Loan from Triad?

Triad’s loan programs are available to:

• Individuals looking to purchase a manufactured or modular home

• Homeowners looking to refinance an existing loan

• Borrowers interested in placing a mobile home on private land or within a community

• U.S. citizens and permanent residents (in most cases)

Applicants must be of legal age and have a steady income source. They should also meet Triad’s credit and property guidelines.

 Types of Loans Offered by Triad

Triad offers several manufactured home loan types, including:

• Home Only (Chattel) Loans: For homes placed in communities or on leased land

• Land-Home Loans: For manufactured homes placed on privately owned land

• Refinancing Options: For borrowers seeking better rates or terms

Each loan product comes with its own requirements, but they all share common foundational criteria.

 Triad Loan Requirements Overview

Here are the core Triad loan requirements you should be aware of:

Let’s break these down further.

Credit Score Requirements

While Triad doesn’t publish a strict minimum credit score, most approved borrowers have a FICO score of 620 or higher. A higher score can lead to:

• Lower interest rates

• Reduced down payment

• Faster approval

Lower scores aren’t automatic disqualifiers but may require additional compensating factors, such as a larger down payment or co-signer.

 Income and Employment Criteria

Triad wants to ensure you can repay the loan. Expect to provide:

• Pay stubs for the last 30 days

• W-2 forms or tax returns for the past 2 years

• Bank statements

• Employer verification (sometimes required)

For self-employed applicants, Triad may request profit and loss statements or business tax returns.

 Down Payment Expectations

Down payment requirements vary based on:

• Credit score

• Loan type

• Whether the home is new or used

Typically, a minimum of 5% to 10% is expected. Some land-home loans may qualify for as little as 3% down. Larger down payments can improve approval odds and reduce monthly payments.

 Property Eligibility Requirements

Triad primarily finances HUD-compliant manufactured homes. That means:

• Homes must be built after June 15, 1976

• The HUD tag (certification label) must be present

• The home should be permanently affixed if financed with land

Homes in mobile home parks or on leased land are eligible for home-only loans, while homes on private land qualify for land-home financing.

 Documentation You’ll Need

Be prepared to submit:

• Government-issued photo ID

• Social Security number

• Income documentation (pay stubs, W-2s, tax returns)

• Credit authorization

• Property details

• Sales contract or purchase agreement

Missing paperwork is a common reason for delays or denials.

 Common Reasons for Loan Denial

Understanding why applications get rejected can help you avoid pitfalls:

• Low credit score

• High debt-to-income (DTI) ratio

• Unstable job history

• Insufficient down payment

• Non-compliant property

• Incomplete documentation

 Tips to Improve Your Chances of Approval

1. Check your credit report: Fix errors before applying.

2. Pay down debts: Lower your DTI ratio.

3. Increase your savings: A bigger down payment is a plus.

4. Organize documents: Keep financial and personal paperwork ready.

5. Choose a compliant property: Confirm it meets Triad’s housing standards.

 Triad Loan Process: Step-by-Step

Here’s what you can expect during the loan process:

Step 1: Pre-Qualification

Determine how much you can afford. Triad may offer a preliminary review of your financial standing.

Step 2: Application Submission

Complete the loan application online or through a dealer.

Step 3: Document Collection

Submit financial, identification, and property documents.

Step 4: Underwriting Review

Triad reviews your application, credit history, and documents.

Step 5: Approval Decision

You’ll receive a decision within days (sometimes same-day for complete applications).

Step 6: Closing

Sign loan documents and fund the purchase.

 Frequently Asked Questions (FAQs)

Q1: Does Triad finance used manufactured homes?

Yes, as long as they meet HUD compliance and structural guidelines.

Q2: Can I get approved with bad credit?

Possibly. Triad considers multiple factors, but approval is more likely with a credit score of 620+.

Q3: Are co-signers allowed?

Yes. Co-signers can improve your chances, especially if your credit or income is borderline.

Q4: Can I refinance an existing loan?

Yes, Triad offers refinancing options for better rates or lower monthly payments.

Q5: How long does the process take?

It depends on how quickly documents are submitted, but many loans close within 3–4 weeks.

Final Thoughts

Getting a loan through Triad Financial Services can be a game-changer for those looking to purchase or refinance a manufactured home. By understanding and preparing for Triad loan requirements, you can increase your approval chances and lock in favorable terms.