How to Finance a Manufactured Home Loan

Borrowers find new competitive rate loans for manufacture home financing from FHA and Fannie Mae. Borrowers can secure a traditional 30-year fixed loan term or consider hybrid ARM’s that are fixed for 3 or 5 years before become adjustable.

The 15 year term loan is still available, but not recommended if you are looking to maximize your cash flow monthly. BD Nationwide will connect you with lending sources that offer affordable manufactured home loans and we don’t charge borrowers exorbitant lending fees either.

Why is it Easy to Get Approved for a Mortgage on a Manufactured Home?

manufactured home loanTraditional mortgage lenders generally refrain from providing financing options for mobile or manufactured homes due to their lower value and depreciation.

Instead, individuals seeking such financing may explore alternatives like FHA Title I and Title II loans, Freddie Mac loans, Fannie Mae loans,.

These financing avenues offer potential solutions for financing the purchase of mobile or manufactured homes.

Many mortgage companies offer home loans on manufactured and modular homes. If you need financing for a mobile home, you may need to get a personal loan or credit line. Many traditional lenders hesitate to sanction a conventional loan for a mobile home as they are not classified as “real property.” Nevertheless, if manufactured home are affixed to a permanent foundation this may meet the criteria for manufactured home mortgage qualification.

Understanding Manufactured Home Loans

If you or someone you know is look, or may be looking to get mobile home financing, this article will provide you with the facts you need to know. If the home in question is a modular or manufactured home, with factory-constructed sections shipped to the site and then assembled and placed on a real foundation, you are okay.

  • Manufactured Home Loans
  • Low Rate Manufactured Home Financing to 97%
  • Low Rate Mortgage Lending for Single Family Manufactured Housing

If it is a non-modular manufactured home, then you will probably need to have the seller finance the purchase, because financing will be difficult or impossible to get, except as a personal loan, with rates and terms similar to a car loan.

How Much Do You Want to Borrow?


See Lenders for Terms and Conditions

Attention Manufactured Homeowners: Fannie Mae and FHA home lending have introduced attractive mortgage loans specifically for properties with manufactured homes, so consider the financing advantages with these types of home loans.

Purchase or Refinance a Modular or Manufactured House with a Competitive Low Fixed Rate Mortgage!

The same rules apply to manufactured home refinancing. Many unfortunate homeowners who bought manufactured homes with financing from the seller have had a rude awakening when they tried to refinance. Manufactured home loans are not easy to get unless the home is a modular built home. Even then, there are restrictions on manufactured homes that don’t apply to conventionally built homes.

Generally, the interest rate is going to be higher for a manufactured home, the minimum credit score required will be higher and the maximum loan to value will be lower. Forget about 97% home purchase loans. Those are for stick built homes only. Fannie Mae will now consider buying loans on manufactured homes with a maximum LTV of 95%, but they will only deal with nine lenders who Fannie Mae considers qualified to make loans on manufactured homes.