Financing a manufactured home is not the same as financing a traditional house.
Different lenders, different loan types, different requirements, and different documentation.

Most traditional banks say “no” not because you’re unqualified — but because they don’t understand manufactured housing.

This guide changes that.

Here, you’ll learn exactly how financing works for:

  • manufactured homes in parks
  • manufactured homes on private land
  • older mobile homes
  • new double-wides
  • chattel loans
  • land-home packages
  • homes that have been moved
  • homes without HUD tags
  • homes requiring community approval

And for the first time, you’ll get the full national overview written specifically for real buyers.

Let’s take away the confusion and make financing clear.


SECTION 1 — THE 2 WAYS TO FINANCE A MANUFACTURED HOME

Manufactured homes can be financed in one of two ways:

1. Chattel Loan (Personal Property Loan)

This is the most common type of MH financing.

Used when:

  • The home is in a land-lease community
  • The home is older
  • The home is not permanently attached to land
  • The buyer doesn’t own the land

Key Features

  • down payment: 5–20%
  • loan terms: 10–25 years
  • flexible property age
  • used by most MH buyers

Pros

  • fast approvals
  • lower credit requirements
  • works for community homes
  • works nationwide

Cons

  • slightly higher interest rates
  • no land included in the loan

This is the type of loan offered by Triad, 21st Mortgage, and Mobile Fund Services — LotRoll’s partner lenders.

2. Land-Home or Mortgage-Style Loan

Used only when the manufactured home is:

  • placed on owned land
  • on a permanent foundation
  • converted to real property
  • compliant with HUD standards

Pros

  • lower interest rates
  • can qualify for traditional mortgage products
  • home + land in one package

Cons

  • requires land ownership
  • requires a permanent foundation
  • more restrictive underwriting

Only some MH buyers qualify for this pathway.


SECTION 2 — DOWN PAYMENTS: 5–20% (THE TRUTH)

This is one of the biggest reasons buyers choose manufactured homes:
 Down payments are much lower than site-built homes.

Typical Down Payments

  • 5–10% for newer homes in good condition
  • 10–20% for older homes or homes that have been moved
  • 10–15% for homes in communities
  • 5% minimum on many Triad loans
  • 0–5% options exist in some cases (but rare)

Example

Home price: $80,000
 Down payment needed: $4,000–$8,000

This is why manufactured housing is one of the easiest ways to stop renting and start owning.


SECTION 3 — LOAN TERMS: 10–25 YEARS

Loan terms for manufactured homes are extremely flexible.

Common Terms

  • 10 years → older homes or lower loan amounts
  • 15 years → most mid-range homes
  • 20–25 years → newer double-wides, higher prices, stronger credit

Terms vary based on:

  • home age
  • home condition
  • financing amount
  • land vs community
  • credit score

LotRoll’s MH lenders offer some of the longest terms in the industry.


SECTION 4 — CREDIT REQUIREMENTS

Manufactured housing lenders are far more flexible than traditional lenders.

Typical credit guidelines

  • 580+ = possible approvals
  • 620+ = good approvals
  • 660+ = best terms
  • 700+ = premium rates

A lower score does not automatically disqualify you.

MH lenders look at:

  • income stability
  • housing history
  • payment history
  • DTI (debt-to-income ratio)
  • home type and condition
  • community approval

This is why many buyers get approved through LotRoll even after a bank said no.

SECTION 5 — LOTROLL’S PARTNER LENDERS (MH SPECIALISTS)

LotRoll only works with lenders who specialize exclusively in manufactured home financing.

That means they understand:

  • MH titling
  • chattel loans
  • land-lease communities
  • older homes
  • HUD code
  • VIN & serial numbers
  • transportation history
  • foundation certifications
  • park approval rules

✔ Triad Financial Services

Often the best mix of price, terms, and speed.

✔ 21st Mortgage

Very flexible on property age and condition.

✔ Mobile Fund Services

Deep MH expertise; excellent for community homes.

These lenders close tens of thousands of MH loans every year.
They are not traditional banks trying to apply site-built rules.

SECTION 6 — LENDERS REQUIRE AN MH VALUATION

Manufactured home valuations are NOT the same as traditional appraisals.

MH lenders look at:

  • Recent MH comparable sales
  • year built
  • make & model
  • size
  • condition
  • upgrades
  • community desirability
  • installation type

Most online home calculators are wrong for MH.

LotRoll’s valuation system uses MH-specific data — giving buyers and lenders accurate numbers instantly.

SECTION 7 — PARK APPROVAL (IF YOU’RE BUYING IN A COMMUNITY)

If the home is in a land-lease community:

The park must approve you.

This may include:

  • background check
  • credit check
  • income verification
  • rental history
  • pet/vehicle rules
  • age restrictions (55+ etc.)

Approval is separate from your loan.

LotRoll includes park information and requirements inside your buyer tools so nothing surprises you.


SECTION 8 — INSURANCE REQUIREMENTS

Lenders require manufactured home insurance before closing.

LotRoll’s insurance partners quote the top MH carriers:

  • Foremost (often best for MH)
  • American Modern
  • Allstate

Insurance costs vary by:

  • state
  • home age
  • condition
  • location
  • wildfire zone
  • coastal risk

Average national cost:
 $80–$120/month


SECTION 9 — HOMES THAT HAVE BEEN MOVED (THE TRUTH)

Some buyers worry they cannot finance a home that has been moved.

Here’s the truth:

✔ ONE move is usually okay

Most MH lenders allow one move from the original factory location.

✔ MULTIPLE moves may require case-by-case review

Lenders may check:

  • installation quality
  • tie-downs
  • transportation condition

✔ Homes built before 1976

May be harder to finance depending on condition.

LotRoll helps evaluate these cases so you don’t waste time applying for a loan that won’t fit.


SECTION 10 — HOMES ON LAND VS HOMES IN PARKS

Homes on land (real property)

  • qualify for more loan types
  • may appreciate more
  • require permanent foundation
  • require title conversion in some states

Homes in parks (chattel)

  • fastest approvals
  • lowest down payments
  • extremely common
  • require park approval

Both are viable.
 Your situation determines which is best.

SECTION 11 — THE STEP-BY-STEP LOAN PROCESS

1. Preapproval

Get your price range and down payment.

2. Choose a home

On land or in a community.

3. Submit documents

Income, ID, financials.

4. Park approval (if needed)

Community must approve you.

5. Valuation

Lender verifies home value.

6. Insurance quote

Required before closing.

7. Final loan approval

Underwriting reviews everything.

8. Closing

Sign paperwork and finalize.

9. Move in

You’re officially a homeowner.


SECTION 12 — FAQ (BUYERS ASKED THESE EVERY DAY)

Can I finance an older mobile home?

Yes — depends on condition and lender.

Do I need land?

No. Most MH buyers live in communities.

Can I finance a single-wide?

Yes.

Can I finance a home that’s been moved?

Yes, if it has only been moved once.

Do I need perfect credit?

No.

Is this faster than buying a traditional house?

Usually yes — in as little as 2–4 weeks.


SECTION 13 — WHY BUYERS CHOOSE LOTROLL FOR FINANCING

✔ MH-specific lenders

Not traditional banks.

✔ Lower down payments

Many options from 5–20% down.

✔ Accurate valuations

Not Zillow guesses.

✔ Insurance quotes instantly

Foremost, American Modern, Allstate.

✔ Designed for real buyers

Simple. Clear. Human.

✔ Completely free

No hidden fees.

Check your financing options, get preapproved, or explore homes today — all on LotRoll.com