What Is a Manufactured Housing Loan?
Manufactured housing loans finance homes built in a factory and transported to a site. If the home is placed on a permanent foundation and titled as real property, it qualifies for most standard mortgage programs: FHA, VA, USDA, conventional, and even DSCR for investment. If titled as personal property, it requires a chattel loan with different terms.
Manufactured homes (built after June 15, 1976, under HUD code) are different from mobile homes (pre-1976) and modular homes (built to local building codes, financed like stick-built). The distinction matters for financing eligibility.
The foundation question: A manufactured home on a permanent foundation, titled as real property, and meeting Fannie Mae or FHA standards can get nearly the same loan terms as a site-built home. Without a permanent foundation, your options narrow to chattel loans with higher rates and shorter terms.
Who Manufactured Housing Loans Are For
- Buyers purchasing manufactured homes on permanent foundations
- Rural homebuyers where manufactured housing is the most affordable option
- Investors buying manufactured home communities or individual rental units
- Buyers in manufactured home parks who need chattel financing
Key Features
Real property (permanent foundation): FHA (3.5% down), VA (0% down), conventional (3-5% down), USDA (0% in eligible areas). Chattel (personal property): higher rates, 15-23 year terms, 5-10% down. Must be built after June 15, 1976 (HUD code). Single-wide, double-wide, and multi-section eligible depending on program.