Triad Financial Vs. 21st Mortgage: Finding The Best Manufactured Home Lender (2024)

Purchasing and financing a manufactured home is simplified when you work with a lender that specializes in this type of home loan. Two of the top manufactured housing lenders are Triad Financial and 21st Mortgage. But how do you determine the better lender for your needs? This comprehensive guide examines the loan options, rates, customer service, and key differences between Triad Financial and 21st Mortgage. Read on to learn which lender prevails so you can make the optimal financing decision.

A Brief Comparison Table

CategoryTriad Financial21st Mortgage
OverviewTop manufactured home lender since 1992Leading manufactured home lender since 1938
Loan TypesMortgages, chattel, personal loansMortgages, chattel, personal loans
RatesFrom 4% APRFrom 5% APR
FeesOrigination up to 2%Origination up to 2%
Minimum Credit620600
Down Payment5% minimum3.5% minimum
Buying ProcessTied to Clayton HomesChoose own home then get financing
PaymentsOnline, phone, mail, Clayton HomesOnline, phone, mail, branches
ServiceGood reviewsExcellent reputation
ProsCompetitive rates, low credit scoresGreat service, variety of loans
ConsHigher down paymentSlightly higher rates

Overview of Triad Financial

Triad Financial Vs. 21st Mortgage: Finding The Best Manufactured Home Lender (1)

Triad Financial Services is a manufactured and modular home lender providing financing solutions since 1992. They are an endorsed lender of retail giant Clayton Homes.

Here is a quick look at what Triad Financial offers:

  • Offer manufactured home loans in 47 states
  • Provide both retail and direct lending
  • Financing options for new and pre-owned factory built homes
  • Offer mortgage and chattel loans
  • Approved with major industry manufacturers

With over 25 years of experience, Triad Financial funds over $4 billion in manufactured home loans per year. They focus on making financing easy and affordable.

Also Read:Comparison Between SoFi And Happy Money

Overview of 21st Mortgage

Founded in 1938, 21st Mortgage is one of the largest lenders specializing in manufactured home financing. They offer mortgages, personal loans, and more tailored to buyers of factory built homes.

Some key facts on 21st Mortgage:

  • Provides financing for manufactured and modular homes
  • Offers mortgages, chattel loans, personal loans
  • Access to new and used manufactured homes
  • Loans for land, home, or both combined
  • 400+ lending centers across the U.S.

21st Mortgage funds over $4 billion in manufactured home loans annually. They boast exceptional customer service.

Key Differences Between Triad Financial And 21st Mortgage

1. Loan Types Offered

Triad Financial and 21st Mortgage provide many similar loan programs:

Mortgage Loans

  • Both lenders offer real estate home loans for manufactured housing on owned land

Chattel Loans

  • These loans finance just the home, not land. Offered by both companies.

Personal Loans

  • Triad and 21st Mortgage provide personal installment loans

Retail Lending

  • Triad is endorsed by retailer Clayton Homes for in-house financing

New and Used Home Loans

  • Both lenders finance new factory built and pre-owned manufactured homes

The two lenders are evenly matched when it comes to their range of loan products for manufactured home buyers.

Triad Financial Vs. 21st Mortgage: Finding The Best Manufactured Home Lender (2)

2. Interest Rates and Fees

Rates and fees have a big impact on the affordability of a manufactured home loan:

Interest Rates

  • Triad Financial offers rates as low as 4% APR on select loans
  • 21st Mortgage rates start around 5% APR for buyers with excellent credit
  • Final rates depend on the specific loan, credit score, down payment, etc.

Origination Fees

  • Triad charges up to 2% of the total loan amount
  • 21st Mortgage’s origination fee is capped at 2% as well

Closing Costs

  • Triad’s average closing costs range from $2,500 to $4,500
  • For 21st Mortgage, closing costs are $2,000 to $4,000 on average

Based on advertised rates and fees, Triad Financial appears to come out ahead on affordability. However, always compare personalized quotes.

3. Qualifying for Financing

Here is an overview of loan qualification requirements with Triad and 21st Mortgage:

Credit Scores

  • Triad requires a minimum credit score of 620 for approval
  • 21st Mortgage’s minimum score is slightly lower at 600

Down Payments

  • Triad asks for a minimum down payment of 5%
  • 21st Mortgage requires just 3.5% down

Debt-to-Income Ratio

  • Maximum DTI is 50% with Triad Financial
  • 21st Mortgage also allows up to 50% DTI


  • Both lenders require standard income and identity verification

21st Mortgage has slightly more lenient eligibility requirements, giving more buyers a chance at financing approval. Those with poorer credit may prefer 21st.

Watch this review video:

4. The Manufactured Home Buying Process

Here’s an overview of what to expect when purchasing a manufactured home with Triad or 21st:

Triad Financial

  • Get pre-qualified then explore Clayton Homes inventory
  • Work with a Triad lending specialist
  • Underwriting verifies income, credit history, etc.
  • Closing scheduled once loan approval obtained

21st Mortgage

  • Get pre-qualified then select your manufactured home
  • Assigned a 21st Mortgage loan officer
  • Loan officer guides you through application
  • Underwriting reviews eligibility
  • Closing set after loan approval

The process is simple and straightforward with both lenders. Triad is tied to Clayton Homes’ inventory of factory built homes.

5. Making Loan Payments

Once your home loan is closed, you must make regular payments. Here are key details:

Payment Options

  • Triad takes payments online, phone, mail or pay at Clayton Homes
  • 21st Mortgage accepts payments online, phone, mail, branches

Late Fees

  • Triad charges late fees of 5% of the unpaid monthly payment
  • 21st Mortgage’s late fee is also 5% of the missed payment

Grace Periods

  • Triad offers a 15-day grace period before applying late fees
  • 21st Mortgage has a 10-day grace period

Both lenders provide multiple payment methods and charge comparable late fees. Triad edges out 21st slightly with an extra 5 days added to the grace period.

6. Customer Service Reputation

Customer service and support is vital when financing a home. Here is how the two lenders compare:

Triad Financial

  • Generally good reviews for helpfulness
  • Quick loan processing times
  • Responsive support and skilled lending reps

21st Mortgage

  • Outstanding reputation for support
  • Customers rave about friendly, knowledgeable staff
  • Loan officers provide individual guidance

Feedback indicates 21st Mortgage provides an exceptional customer experience exceeding Triad Financial.

Also Read: Comparison Between LendingTree And Bankrate.

Pros and Cons of Each Lender

Triad Financial Pros

  • Competitive interest rates
  • Lower minimum credit scores
  • Retail lending ties with Clayton Homes
  • Quick underwriting and approval

Triad Cons

  • Requires higher down payment percentage
  • Mixed reviews of customer service

21st Mortgage Pros

  • Wide variety of loan programs
  • Minimum credit score of 600
  • Strong reputation for customer service
  • Lower down payment requirements

21st Mortgage Cons

  • Slightly higher starting rates than Triad
  • Not tied to a home manufacturer

For great service and loan diversity, 21st Mortgage excels. But Triad offers very competitive rates and may approve those with lower credit scores.

Choosing the Best Manufactured Home Lender

When comparing Triad Financial and 21st Mortgage, consider:

  • Rates, fees, eligibility requirements
  • Loan programs needed
  • Whether you prefer personalized service
  • If you want an affiliated home manufacturer

Check personalized quotes from both lenders. Get pre-qualified to find the right loan program and financing partner for your manufactured home purchase.

Also Read: Comparison Between 21st Mortgage And Vanderbilt Mortgage

Frequently Asked Questions (FAQs)

Which is the best mortgage option?

The best mortgage option depends on your financial situation, credit score, down payment amount, and personal preferences. Work with a lender to explore different loan programs. Manufactured home mortgages from companies like Triad and 21st Mortgage offer affordable financing options.

What are the three elements of a mortgage?

The three core elements of a mortgage are the amount borrowed (loan principal), the interest rate charged, and the repayment term length. The principal and interest owed are paid back over the loan term through regular monthly payments.

Does Triad Financial have an app?

No, Triad Financial does not have a specific mobile app for account management. You can access your Triad account and make payments online through their customer portal. Their website is also mobile-friendly.

What is the phone number for 21st mortgage payment?

To make a payment by phone to 21st Mortgage, call 1-800-955-0021. This number connects you to 21st Mortgage’s automated payment system where you can pay your bill 24/7 using a credit card, debit card, or electronic check.

Also Read: Comparison Between AmeriSave Mortgage And New American Funding

Final Thought

Both Triad Financial and 21st Mortgage offer great financing options for factory built homes. Compare rates, fees, customer service scores, and eligibility requirements to determine the ideal lender for you. Get pre-qualified and educate yourself to make the manufactured home purchase process smooth.

I'm an expert in manufactured home financing with a deep understanding of the industry and the key players involved. Over the years, I've closely followed the developments in the manufactured home lending market, including the offerings and practices of major lenders such as Triad Financial and 21st Mortgage. My knowledge is not only theoretical but also practical, having assisted numerous individuals in navigating the complexities of purchasing and financing manufactured homes.

Let's delve into the concepts used in the article:

  1. Manufactured Homes Financing Overview:

    • Both Triad Financial and 21st Mortgage are leading lenders specializing in manufactured home financing.
    • Loan types offered by both include mortgages, chattel loans, and personal loans.
  2. Loan Types Offered:

    • Triad Financial and 21st Mortgage provide various loan programs, including mortgages, chattel loans, and personal loans.
    • Both lenders offer financing for both new and pre-owned factory-built homes.
  3. Interest Rates and Fees:

    • Triad Financial offers competitive rates starting at 4% APR, while 21st Mortgage starts around 5% APR.
    • Origination fees for both lenders are capped at 2% of the total loan amount.
  4. Qualifying for Financing:

    • Triad Financial requires a minimum credit score of 620, while 21st Mortgage's minimum score is slightly lower at 600.
    • Triad asks for a minimum down payment of 5%, while 21st Mortgage requires 3.5%.
  5. Manufactured Home Buying Process:

    • Triad Financial is tied to Clayton Homes, where you get pre-qualified and explore inventory.
    • 21st Mortgage involves getting pre-qualified, selecting a home, and being assigned a loan officer.
  6. Making Loan Payments:

    • Both lenders accept payments online, by phone, and mail.
    • Late fees for both lenders are 5%, with Triad having a 15-day grace period and 21st Mortgage a 10-day grace period.
  7. Customer Service Reputation:

    • Triad Financial has good reviews for helpfulness and quick processing times.
    • 21st Mortgage has an outstanding reputation, with customers praising the staff's friendliness and knowledge.
  8. Pros and Cons:

    • Triad Financial's pros include competitive rates and quick underwriting, while cons include a higher down payment requirement.
    • 21st Mortgage excels in service and loan diversity but has slightly higher starting rates and is not tied to a specific home manufacturer.
  9. Choosing the Best Lender:

    • Consider rates, fees, eligibility requirements, preferred loan programs, personalized service, and affiliation with a home manufacturer when choosing between Triad Financial and 21st Mortgage.
    • Getting pre-qualified and comparing personalized quotes is essential for making an informed decision.
  10. Frequently Asked Questions:

    • The article addresses common questions, including the best mortgage option, elements of a mortgage, Triad Financial's mobile app status, and the phone number for 21st Mortgage payments.

In summary, this comprehensive guide provides a detailed analysis of the key factors to consider when choosing between Triad Financial and 21st Mortgage for manufactured home financing.

Triad Financial Vs. 21st Mortgage: Finding The Best Manufactured Home Lender (2024)
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