Key Takeaways
- Yes, manufactured homes can be financed, but loan options depend on whether the home is on owned land or leased land.
- Homes on owned land may qualify for traditional mortgages like FHA, VA, USDA, or conventional loans if they’re permanently installed and titled as real property.
Homes in parks or on leased land are usually financed with chattel (personal property) loans, which have shorter terms and higher interest rates.
- Homes built before 1976 are harder to finance, but specialty lenders, seller financing, or cash purchases may still be options.
Short Answer : Yes, you can get a loan or mortgage for a manufactured home, but the type of financing available depends on how the home is titled, where it’s located, and whether it’s permanently installed.
Manufactured home financing isn’t one-size-fits-all. Understanding the options upfront can save you time, money, and frustration.
What Determines Manufactured Home Loan Eligibility?
Lenders usually look at these key factors:
- Home classification (manufactured vs. mobile)
- Year built (most lenders require 1976 or newer)
- Permanent foundation (required for traditional mortgages)
- Land ownership (owned land vs. leased land)
- Title status (real property vs. personal property)
- Borrower credit and income
Homes that meet modern standards and are permanently installed on owned land generally qualify for the best rates and terms.
100 Frequently Asked Questions about Mobile Homes
Mortgage Options for Manufactured Homes
If your manufactured home is on owned land and titled as real property, you may qualify for traditional mortgage programs, including:
- FHA loans – Lower down payments and flexible credit requirements
- VA loans – For eligible veterans and service members
- USDA loans – For rural and some suburban areas
- Conventional loans – Often require higher credit scores and down payments
These loans work much like site-built home mortgages and typically offer longer terms and lower interest rates.
Loans for Manufactured Homes in Parks or Leased Land
If the home is located in a manufactured home community and sits on leased land, financing is usually done through a chattel loan (also called a personal property loan).
Chattel loans:
- Are based on the home itself, not the land
- Often have shorter terms (15 – 25 years)
- Usually come with higher interest rates
- Close faster with fewer requirements
This is the most common financing option for homes in parks.
Can I Finance an Older Mobile Home?
It depends. Homes built before 1976 (pre-HUD Code) are harder to finance. Many traditional lenders won’t approve loans for them, but some specialty lenders or seller financing arrangements may be available.
Cash purchases are also common for older homes.
Tips to Improve Your Approval Chances
- Verify the HUD certification label
- Confirm the home’s foundation type
- Check whether the title can be converted to real property
- Shop lenders who specialize in manufactured housing
- Get pre-approved before making an offer
Summary
Yes, financing a manufactured home is absolutely possible, but the details matter. Whether you’re buying on land or in a community, understanding your loan options helps you choose the best path forward and avoid surprises.
