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Unlock Your Mobile Home Dreams: Dive into the Mobile Home Loan Program


-10% down payment

-20% down payment

What is a mobile home loan?

A mobile home loan is a type of financing designed specifically for the purchase or refinance of a mobile home, also known as a manufactured home. Mobile homes are prefabricated structures that are built in a factory and then transported to a specific location, often placed on a permanent or semi-permanent foundation.

There are different types of mobile home loans, and they can vary in terms of eligibility requirements, interest rates, and terms. Here are some common types of mobile home loans:

Chattel Loans: Chattel loans are one of the most common forms of financing for mobile homes. These loans treat the mobile home as personal property, similar to a car or other movable asset. The home is not considered real estate in this case, and the loan is secured by the home itself. Chattel loans typically have shorter loan terms and may have higher interest rates compared to traditional mortgages.

FHA Title I Loans: The Federal Housing Administration (FHA) offers Title I loans for mobile homes and other types of manufactured housing. These loans are often used for financing home improvements, including the purchase of a mobile home. FHA Title I loans are backed by the government and may have more flexible credit requirements.

FHA Title II Loans: FHA Title II loans are similar to traditional FHA loans and are used for the purchase or refinance of mobile homes on permanent foundations. These loans may offer more favorable terms than chattel loans, but they typically require the mobile home to meet certain standards, including HUD construction and safety standards.

Conventional Mortgages: Some lenders offer conventional mortgages for mobile homes that are permanently affixed to land. These loans are similar to traditional mortgages for site-built homes, and they typically have more competitive interest rates and terms.

USDA Loans: The U.S. Department of Agriculture (USDA) offers loans for the purchase or improvement of manufactured homes in eligible rural areas. These loans can be a cost-effective option for financing mobile homes.

For more information or to go over your own scenario, please contact mc at 408-393-2068

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