Can you get a loan for a mobile home?

Financing a mobile or manufactured home may be a little different from financing a house. That’s because most lenders don’t consider these homes eligible for most types of mortgage loans. However, some lenders will give you a loan for a manufactured home if it meets their specific requirements and rests on a permanent foundation.

What is a manufactured home mortgage?

They may have higher interest rates, shorter loan terms, and different down payment and credit score requirements. Manufactured home mortgages can be used to finance both the purchase of the manufactured home itself and the land it will be placed on, or just the home only if it will be located in a rented lot or mobile home park.

Can you finance a mobile home?

Mobile and manufactured homes are affordable housing options, especially for people living a nomadic lifestyle or in remote areas. But, if you want to finance a mobile home, some lenders may not consider them eligible for a traditional loan. Fortunately, other mortgage options are available to help you finance your home purchase.