Typical Loan Requirements
Manufactured home financing can look different from a traditional mortgage. Below are common requirements — but requirements vary by lender and state.
Credit score (typical ranges)
Many programs look for a score around 600+, though some lenders work with borrowers below 600. (Varies by lender and state.)
- Excellent/Good: more lender options, often better terms.
- Fair: options may exist with higher borrowing costs or down payment.
- Poor: specialized lenders may require larger down payments and documentation.
Down payment (common expectations)
A typical range is 5%–30%, depending on credit, property type, and whether the home is new/used. (Varies by lender.)
- Lower down payments may require stronger credit and compensating factors.
- Used homes or leased-land situations can require more cash down.
Income verification & DTI
Lenders typically verify income (paystubs, tax returns, bank statements) and evaluate your debt-to-income ratio (DTI). (Guidelines vary.)
- Stable income and employment history can improve options.
- Higher DTIs may still qualify with strong credit or larger down payment.
Property requirements
- HUD code: many lenders prefer homes built after 1976 (HUD-code manufactured homes).
- Foundation: some programs require permanent foundation and land ownership.
- Age/condition: used homes may have inspection or condition requirements.
Rules vary by lender, state, and whether the land is owned or leased.
Documents you may need
- Photo ID
- Paystubs / proof of income
- Bank statements
- Tax returns (often 1–2 years)
- Purchase contract
- Home information (year, make/model, serial/VIN)
- Land info (owned vs leased)
- Park lease (if applicable)
Exact documentation varies by lender and state.
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