If you’re a first-time mobile home buyer, navigating the financing world can feel like a maze. Traditional mortgages often don’t apply, and the options that do exist can vary depending on the type of home and where it’s located. But don’t worry—we’ve broken it all down for you.
🏡 What Type of Mobile Home Are You Buying?
Before anything else, lenders want to know: is the home real property or personal property?
- Real Property means the mobile home is permanently attached to land that you own.
- Personal Property means it’s either in a mobile home park or on land you lease.
If you’re buying a mobile home in a park, you’ll likely need chattel financing—a loan more like an auto loan than a mortgage. These usually have shorter terms and higher interest rates, but approval is often quicker.
💸 Financing Options for First-Time Buyers
There are a few key ways to get financing for a manufactured home in 2025:
- Chattel Loans – Best for homes in parks or on leased land.
- FHA Title I Loans – These government-backed loans are popular and flexible for first-time buyers.
- VA Loans – For eligible veterans buying a manufactured home.
- Personal Loans or Credit Unions – These can be great options if your credit is solid and the loan amount is small.
🔑 Down Payments and Credit Requirements
Most mobile home loans require:
- Down payment: 5%–20%, depending on your credit and the lender.
- Credit score: 580–620+ for FHA, but the higher your score, the better your rates.
- Income verification: Proof that you can repay the loan (W-2s, bank statements, etc.)
Good news? Some lenders specialize only in mobile homes and offer flexible options to get you approved.
🧠 Pro Tips for Mobile Home Financing in 2025
- Get pre-approved before shopping to understand your budget.
- Consider a co-signer if your credit is borderline.
- Look into local mobile home dealers—many have in-house finance options or partner lenders.
🔍 Why This Matters
As mobile homes grow in popularity, knowing your mobile home loan options makes you a smarter buyer. With rising interest in affordable housing, the sooner you act, the better your chances of locking in good terms.
✅ List Your Dream Home or Shop Around
If you haven’t already, visit MoveInMobile.com to browse available homes, or list your own if you’re selling. Our platform is optimized to help buyers and sellers connect fast—and for sellers, you can even list for free during our launch!