best mobile home loans guide for first-time buyers

Choosing financing for a manufactured or modular home starts with fit. The best mobile home loans match your budget, home type, and whether you own land or lease a lot.

How these loans work

Financing may be chattel (home only) or a real-property mortgage when the home is affixed to land. FHA Title I, VA, USDA, and conventional programs offer different terms, down payments, and documentation.

Frequently asked questions

What affects your rate?

Credit score, loan-to-value, home age and condition, foundation status, and land ownership weigh heavily. Bigger down payments can lower costs.

Can you refinance later?

Often, yes-after credit improves, equity builds, or the home is placed on a permanent foundation, you may qualify for better terms.

• APR and total fees over the loan’s life
• Minimum down payment and reserves
• Fixed vs. adjustable terms and prepayment rules
• Closing timeline, inspections, and service quality