Purchasing a modular or mobile home is an exciting step, and finding the right financing can make the process simple and affordable. Today’s lenders offer several flexible options designed to fit different budgets and situations:

1. Traditional Mortgage Loans
For modular homes placed on a permanent foundation and classified as real property, buyers may qualify for conventional, FHA, VA, or USDA mortgage programs. These loans typically offer competitive rates and long repayment terms.

2. Chattel Loans (Home-Only Financing)
Mobile or manufactured homes that are not permanently attached to land can often be financed with a chattel loan. These loans are secured by the home itself and generally have shorter terms than a traditional mortgage, making them a popular choice for homes in manufactured housing communities.

3. Land & Home Packages
If you’re purchasing land and a home together, many lenders offer combined financing. This option allows you to roll the cost of the home, site preparation, and land into a single loan.

4. Personal & Specialty Loans
In some cases, personal loans or financing through specialty lenders may be available. These can provide quicker approvals and flexible terms, especially if you’re making a smaller purchase.

5. In-House & Partner Lender Programs
Many home retailers and communities work with trusted lenders to provide financing solutions tailored specifically to modular and mobile home buyers, simplifying the process and helping you get into your new home faster.

Tip: Each financing option has its own requirements for down payments, credit scores, and interest rates. A Mortgage Loan Officer or lender can walk you through which option best fits your needs.