New vs Used: Financing Differences
Whether a home is new or used can impact lender options, required documentation, and sometimes overall borrowing costs. (Varies by lender and state.)
HUD code (1976) — why it matters
Many lenders prefer homes built after 1976 (HUD-code manufactured homes). Older “mobile homes” can have more limited financing options. Requirements vary by lender and state.
Condition requirements (used homes)
Used homes may require inspections or proof of habitability. Items like roof condition, plumbing/electrical, tie-downs/foundation, and overall safety can affect financing. Requirements vary by lender.
Typical cost differences (educational)
Used homes or leased-land/chattel scenarios can sometimes have higher total borrowing costs than newer homes with land ownership. Your pricing depends on credit, down payment, property type, and lender guidelines.
We avoid quoting pricing ranges because they change and vary widely.
New homes: what’s usually easier
- Clear documentation (title, HUD tags, manufacturer info)
- Less condition risk vs older used homes
- More lender comfort in many programs
Still varies by lender and state.
Want help comparing options?
We can connect you with a licensed professional who can review the home type and land situation and walk you through realistic options.