21st Mortgage Corporation Review 2026

21st Mortgage Corporation overview

Based in Knoxville, Tenn., 21st Mortgage Corporation is the largest manufactured housing lender in the country. The company has been in business since 1995 and services more than $16 billion of loans for more than 243,000 borrowers, according to the Manufactured Housing Institute.

Pros and cons of 21st Mortgage Corporation

Affordability: 3.1/5

If you have good credit, you can get a great deal with 21st Mortgage. If you have a lower credit score, you’re not out of luck, but you’ll have to pay much more for your loan. We docked their score a bit for their high rates.

• Interest rates: 21st Mortgage Corporation’s rates usually range from 7 percent to 14 percent. It’s not unusual for chattel loans — the loans used to buy some manufactured homes — to have rates in this range, but you’ll typically pay more than you would for a conventional mortgage rate. 
• Down payment: Borrowers with excellent credit can qualify for a loan with no down payment. If your credit score is lower than 575, however, expect a significantly higher down payment, “usually a minimum of 35 percent,” according to the lender’s website. 
• Minimum loan amount: If you’re purchasing your home from a retailer or an existing 21st Mortgage customer, you’ll need to borrow at least $16,000. If you’re purchasing from another individual, you’ll need to borrow at least $25,000.
• Fees: You’ll pay fees for origination, a credit check, title services and title transfer, escrow and attorney services.
• Closing costs: Borrowers can roll closing costs and the majority of fees — although not the appraisal or the recording fees — into the loan to avoid upfront costs. Keep in mind that while this will save money on the front end of the deal, it will ultimately lead to higher costs in the long run.

Availability: 4.5/5

21st Mortgage lends in most states and doesn’t require a minimum credit score. However, there are no physical branch locations, and the company offers a relatively limited selection of loan types — though, if you’re hoping to finance a manufactured home, you may not mind.

• Products offered: 21st Mortgage offers fixed-rate loans of up to 30 years if you’re purchasing land and a home together. For home-only loans and investment properties, the maximum term is 25 years. The company offers financing for new and pre-owned manufactured homes, whether you’re buying from a community, a retailer or an owner, and, unlike many lenders, it finances homes without permanent foundations. Keep in mind that homes must be move-in ready. This lender also offers refinance loans with a minimum loan amount of $25,000 and a minimum down payment of 5 percent. There’s a cash-out refinance option, too, but borrowers need a credit score of at least 600 to qualify. Cash-out refinancing is not available in Texas.
• Credit score: The company doesn’t have a minimum credit score requirement.
• Footprint: The company serves homeowners in 46 states — all but Alaska, Hawaii, Massachusetts and Rhode Island. However, there are additional restrictions related to specific types of loans. Land-and-home loans aren’t available in the following Illinois counties: Cook, Kane, Peoria and Will counties. And there’s no financing for park model homes in Kentucky, Montana, New Jersey, Pennsylvania and Vermont.
• Where to find: The company’s application process is fully digital. There are no physical branch locations.

Borrower experience: 3.4/5

Borrowers can find a lot of information on 21st Mortgage’s website, including a payment estimator tool, but the company lacks some of the conveniences other lenders offer, like an app.

• Application and preapproval process: Unlike traditional lenders, the company doesn’t offer prequalifications. Instead, borrowers must submit a “credit application,” and, if approved, be prepared to share more details, such as W-2 forms and property information. The process can be fairly fast, though: The company says it typically will get back to borrowers with information about next steps within 24 hours. After receiving approval, you’ll have another 60 days to submit documentation.
• Transparency: 21st Mortgage’s website has a thorough set of frequently asked questions, with information about loan products and borrower requirements. There are also video tutorials that provide a step-by-step look at the loan process. The website has a payment estimator tool, where users can enter information about their finances and property to get a sense of monthly payments.
• Customer service: The company services all the loans it originates, and borrowers are assigned a team member to help with payment questions. The company’s customer service line is available between 9:00 a.m. and 6:00 p.m. ET Monday through Friday at 800-955-0021.

21st Mortgage Corporation has an A+ rating with, and is accredited by, the Better Business Bureau. However, it’s rated a 3 out of 5 based on, at the time of this writing, more than 300 customer reviews, with some complaining about rude and aggressive behavior when pursuing late payments. 

21st Mortgage offers refinances with a minimum loan amount of $25,000 and a minimum down payment of 5 percent. There’s a cash-out refinance option, too, but borrowers need a credit score of at least 600 to qualify.