Manufactured Home Loans 2025: Complete Guide to Mobile Home Financing
Sarah Mitchell
Manufactured Housing Specialist • 22 min read
🏠 Find Your Manufactured Home Loan
Home on Owned Land
- ✓ FHA Title II (3.5% down)
- ✓ VA Loan (0% down)
- ✓ USDA Loan (0% down, rural)
- ✓ Conventional (5-20% down)
→ Best rates & terms
Home on Leased Land
- ✓ FHA Title I
- ✓ Chattel Loan
- ✓ Personal Property Loan
- ✗ Traditional mortgages
→ Higher rates, shorter terms
Looking for a manufactured home loan? With the average site-built home costing $400,000+, manufactured homes offer an affordable path to homeownership at $60,000 - $180,000. But financing can be tricky—loan options depend on whether your home is on owned land, leased land, or in a mobile home park. This guide covers all your options: FHA, VA, USDA, conventional, and chattel loans.
💡 Key Distinction: Real Property vs Personal Property
Real Property: Home permanently affixed to owned land → qualifies for traditional mortgages (FHA, VA, conventional).
Personal Property: Home on leased land or not permanently affixed → requires chattel loan or FHA Title I.
✓ No credit impact • ✓ See rates in 2 minutes
6 Types of Manufactured Home Loans Compared 📊
| Loan Type | Best For | Down Payment | Credit | Rate |
|---|---|---|---|---|
| FHA Title II | Home on owned land | 3.5% | 580+ | 6.75% - 8.0% |
| FHA Title I | Home only or leased land | 5% | 500+ | 7.5% - 10% |
| VA Loan | Veterans, home on owned land | 0% | 580-620+ | 6.5% - 7.5% |
| USDA Loan | Rural areas, owned land | 0% | 640+ | 6.75% - 7.5% |
| Conventional | Good credit, owned land | 5-20% | 620-680+ | 7.0% - 8.5% |
| Chattel Loan | Leased land, mobile home parks | 5-20% | 575-650+ | 8.0% - 14.0% |
FHA Loans for Manufactured Homes 🏛️
FHA offers two programs for manufactured homes: Title I (personal property) and Title II (real property). Here's how they compare:
| Feature | FHA Title I | FHA Title II |
|---|---|---|
| Land Ownership | Owned OR leased | Must own land |
| Max Loan (Home Only) | $69,678 | N/A (must include land) |
| Max Loan (Home + Land) | $92,904 | Up to $498K-$1.15M (area limits) |
| Down Payment | 5% | 3.5% |
| Foundation Required | No | Yes (permanent) |
| Loan Term | Up to 20 years | Up to 30 years |
VA Loans for Manufactured Homes 🎖️
Veterans and active-duty military can use VA loans for manufactured homes with 0% down paymentand no PMI. This is one of the best financing options available.
✅ VA Manufactured Home Requirements
- Built after June 15, 1976 (HUD code)
- Permanently affixed to foundation
- Titled as real property
- On land you own (or will purchase with loan)
- At least 400 sq ft
- HUD certification label attached
Chattel Loans: Financing on Leased Land 📋
If your manufactured home is in a mobile home park or on leased land, you'll need a chattel loan. These are personal property loans where the home (not land) is collateral.
✅ Chattel Loan Pros
- Works on leased land: Mobile home parks OK
- Faster closing: 2-4 weeks typical
- Lower closing costs: No title insurance
- Easier qualification: Some accept 575+ credit
❌ Chattel Loan Cons
- Higher rates: 8-14% vs 6.5-8% for mortgages
- Shorter terms: 15-20 years max
- Larger down payment: 5-20% typical
- Home may depreciate: Without land ownership
💡 Pro Tip: Convert to Real Property
If you can buy the land under your manufactured home, you may be able to convert from a chattel loan to a traditional mortgage. This can lower your rate by 2-5% and extend your term to 30 years.
Top Manufactured Home Lenders 2025 🏆
| Lender | Specialty | Min Credit | Loan Types |
|---|---|---|---|
| 21st Mortgage | Manufactured home specialist | 575+ | Chattel, Land-Home |
| Vanderbilt Mortgage | Clayton Homes financing | 580+ | Chattel, FHA, VA |
| ManufacturedHome.Loan | All manufactured types | 580+ | FHA, VA, USDA, Conv |
| Cascade Financial | Pacific Northwest | 600+ | Chattel, Conventional |
| Credit Human | Credit union rates | 620+ | Conventional, Chattel |
Manufactured Home Loan Requirements 📋
🏠 Home Requirements (for Traditional Mortgage)
- ✓ Built after June 15, 1976 (HUD code)
- ✓ HUD certification label (red metal plate)
- ✓ Minimum 400 square feet
- ✓ Permanently affixed to foundation
- ✓ Titled as real property (not personal property)
- ✓ On land you own
- ✓ Wheels, axles, and towing hitch removed
Manufactured Home Costs 2025 💰
| Home Type | Size | Home Cost | Total w/ Land & Setup |
|---|---|---|---|
| Single-Wide | 600-1,300 sq ft | $60,000 - $100,000 | $100,000 - $180,000 |
| Double-Wide | 1,000-2,300 sq ft | $100,000 - $180,000 | $150,000 - $280,000 |
| Triple-Wide | 2,000+ sq ft | $150,000 - $300,000 | $200,000 - $400,000 |
💰 Cost Savings vs Site-Built
Manufactured homes cost $50-$100 per square foot vs $150-$250+ for site-built homes. A 1,500 sq ft double-wide at $120,000 would cost $300,000+ as a site-built home—saving $180,000+.
How to Get a Manufactured Home Loan: Step-by-Step 📝
Determine Land Situation
Will you own the land, lease it, or place in a mobile home park? This determines your loan options.
Check Your Credit Score
FHA needs 580+, VA needs 580-620+, conventional needs 620-680+. Higher scores = better rates.
Get Pre-Approved
Contact manufactured home lenders for pre-approval. Know your budget before shopping for homes.
Choose Your Home
Visit dealers, review floor plans, get quotes. Ensure home meets HUD code and lender requirements.
Secure Land (if applicable)
For real property loans, you need to own or purchase land. Some loans include land purchase.
Close & Set Up
Close on loan, transport home, install on foundation, connect utilities. Move in!
Ready to Finance Your Manufactured Home? 🏠
Compare rates from lenders who specialize in manufactured home financing. FHA, VA, USDA, and chattel options available.
✓ No credit impact • ✓ FHA, VA, Chattel options • ✓ 575+ credit OK