Manufactured Home Loan Options (Plain-English Overview)
A simple overview of common manufactured/mobile home financing paths, including leased land vs owned land considerations. Educational only.
Manufactured home financing can feel confusing because it depends on the home, the land situation, and the lender’s guidelines. This guide is educational and meant to help you understand the landscape — not to promise approvals or rates.
The two questions that change everything
- Do you own the land, or is it leased land (a park)?
- Is the home new or used (and what year is it)?
Those details often determine whether the home is treated more like real property (mortgage-style programs) or personal property (often chattel-style programs). Requirements vary by lender and state.
Common financing paths (high level)
- Chattel loans: common for parks/leased land scenarios.
- Manufactured home mortgages: more common when land is owned and the home qualifies.
- Specialized manufactured home lenders: may offer programs tailored to different scenarios.
Because programs change, the best next step is to have a licensed lender/broker review your specific scenario and explain what’s currently available in your state.
If you’d like a licensed professional to review your scenario, you can request help here: Get Personalized Help.