Home only loans, also known as chattel loans, are personal property loans made for the purchase of a manufactured home that is not permanently affixed to real estate. These loans are the most common and most utilized for financing manufactured homes and mobile homes.
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The FHA backs loans for mobile home vehicles with its Title I program. You negotiate your rate with private lenders offering this loan type. Note that these loans are offered by relatively few.
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And as manufactured-home loans typically carry higher rates than conventional mortgages, would-be buyers might have difficulty financing a purchase. Change may be coming on that front.
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Chattel loans are often used for mobile and manufactured homes when the home is going into a park or manufactured home community. A chattel loan is a home-only loan, as opposed to a loan for the home and land together.
Manufactured Home Financing & Mobile Home Loans Since 1995 MH Loans has been a leading mobile home loans resource. Owners and buyers appreciate the customer-centric philosophy, offering excellent service while exploring a variety of manufactured home financial services – refinancing and new mobile home mortgages. Discover Highly Competitive Rates
ALBUQUERQUE, N.M. – Growing numbers of first-time buyers looking to get on the first rung of the property ladder have heightened the appeal of manufactured homes, according to one industry observer,
FHA Home Inspection. All FHA loans must have an FHA home inspection completed before closing by a licensed FHA inspector that will verify that the home meets HUD standards. One of the benefits of purchasing a new Clayton Built prefabricated home is that all Clayton homes are built to hud federal manufactured Home Construction and Safety.