Manufactured Home Payment Estimator
The 5 Main Loan Options for Manufactured Homes
Financing a manufactured home is more complex than a traditional mortgage — but more options exist today than a decade ago, and rates have become more competitive. The right loan depends on whether you own or lease the land, the age of the home, and your credit profile.
Loan Comparison Table
The Chattel Loan Trap — and When It's Fine
About 70% of manufactured home purchases are financed with chattel loans — where the home is treated as personal property, not real estate. This is the fastest path to financing, but it usually comes with a higher interest rate (7–11% vs 6–7% for real-property mortgages) and a shorter loan term, meaning your monthly payment can be surprisingly high relative to the purchase price.
If you plan to stay in a park long-term and don't own the land, a chattel loan may be your only option. If that's the case, focus on the lender's origination fee and prepayment penalty terms — not just the rate — because those can add thousands to your total cost.
If you own or plan to buy the land, converting to a real-property mortgage (even retroactively through a process called "titling as real property") can cut your rate by 1–2 percentage points. That saves tens of thousands over a 20-year loan.
See How MH Stacks Up to Other Housing Types
MH vs Modular vs Site-Built →Frequently Asked Questions
What credit score do I need to finance a manufactured home? +
FHA Title I requires a 580+ score for 5% down (500–579 with 10% down). Chattel lenders typically want 620+. Fannie Mae MH Advantage requires 620+ and a 3% down payment. The higher your score, the better your rate — a 680 vs 620 score can save 0.5–1% on a chattel loan.
Can I get a 30-year loan on a manufactured home? +
Yes — but only if the home is on permanent foundation on land you own (real property classification). FHA Title II, VA, and Fannie Mae MH Advantage all allow 30-year terms. Chattel and FHA Title I max out at 20–23 years.
Does the age of the home affect financing options? +
Yes. Most government-backed programs require the home to have been built after June 15, 1976 (the HUD Code date). Homes built before 1976 are nearly impossible to finance through conventional channels. FHA Title I allows homes as old as 1976 with HUD compliance documentation.
Can I refinance a manufactured home chattel loan? +
Yes — and if rates drop or your credit improves, refinancing can make a significant difference. If you've also acquired the land since origination, you may be able to refinance into a real-property mortgage at a much lower rate.
Is it harder to get a loan for a used manufactured home? +
Often yes. Many lenders impose maximum age limits (10–15 years) on used homes for chattel loans. The home must also pass an appraisal and inspection. Used homes in parks are the hardest category to finance — expect a 15–20% down payment requirement.