Manufactured home loans refer to loaning money on mobile, prefabricated, or modular home purchases and sometimes the land where the home will be placed. There are some different rules and regulations that surround these types of homes and it is important to know how they might affect you.



Manufactured home loans are treated like a home mortgage with the exception of the 30-year loan. Manufactured home loans range from 15 to 25 year mortgages.


Payments & Interest

Some manufactured home mortgage companies require 5% as a down payment and loans can combine lot and home financing. The maximum loan amount offered is $92,904 which includes the home and land.



Equity is determined by taking the home’s value minus what is owed on the loan to determine exactly how much of it you outright own.  Manufactured homes only gain equity through owning the lot of land the home sits on. Homes can depreciate with time, whereas land can increase, thus allowing for land ownership to gain equity. Manufactured mortgage loans can assist in gaining equity on the home, if the loan includes the land.

If you feel a manufactured home loan may be right for you or if you have questions please contact us or fill out the form for a free quote today.

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