Manufactured Home Financing
Chattel (home-only) loans, land-home packages and conventional financing all exist for manufactured homes. We are not a lender and we do not arrange, broker or recommend financing β you choose your own. Below is the list of lenders our customers have used.
Calculate Your Monthly Payment
Estimate principal & interest for a chattel (home-only) or land-home loan. Slide the price and down payment and pick the loan type. Figures are an illustration only β your lender sets the real terms.
Paying Cash or Utilizing Land Equity? Ask About Factory Direct Preferred Cash Discounts.
Cash and land-equity buyers skip lender fees and qualify for our preferred pricing on select floor plans.
Estimated monthly payment
$1,025/mo
Principal & interest Β· 20-year term at 9.5% APR (estimate)
- Amount financed
- $110,000
- Total interest
- $136,083
- Payments
- 240
Truth in Lending / Regulation Z disclosure. Monthly payment estimates are provided for illustrative purposes only and do not constitute an offer of credit, a loan commitment, or a rate lock. Actual terms, interest rates, and loan availability depend on individual borrower credit qualification through third-party lenders (including 21st Mortgage, Triad Financial Services, and Credit Human). Taxes, insurance, site prep, and fees are not included.
Understanding Your Financing Options
Common questions about manufactured home financing
What financing options are available for manufactured homes?
Chattel (home-only) loans, land-home packages and conventional financing are the common routes. We are not a lender and do not arrange financing; you choose your own lender. The lender list we hand buyers names ten lenders that finance manufactured homes; it is a list, not a ranking, and we get nothing for it. Each option has different requirements, rates, and terms depending on your situation.
What is a chattel loan and how does it work?
A chattel loan treats your manufactured home as personal property, similar to a car loan, rather than real estate. This means you can finance the home without owning the land, making it ideal for leased lots or family property. Chattel loans typically have higher rates than mortgages but offer easier qualification and faster approval.
What credit score is needed to finance a manufactured home?
Lenders on our list work with credit scores as low as 575 for chattel loans, though 620+ generally earns better rates. Each lender sets its own standards β ask them. We have options for a range of credit situations and can help you understand your best path forward. Pre-qualification is free and helps you see what you can afford before choosing a home.
How much down payment is required for a manufactured home?
Down payments typically range from 5-10% for chattel loans, depending on your financing option and credit. Conventional land-home packages may require 10-20% down. Cash buyers receive preferred pricing discounts on the home purchase.
Lender Directory
Factory Direct Homes Center does not recommend any specific lender. Below is a list of lenders that are likely to provide financing for Manufactured Homes.
Factory Direct Homes Center is not a lender and does not offer, arrange or broker financing. The lender list names lenders our customers have used before β it is information, not a recommendation. We are not affiliated with any of them, we receive nothing for naming them, the order they appear in means nothing, and you may apply to as many as you like. The choice is yours.
| Lender | Telephone | Address | Website |
|---|---|---|---|
| 21st Mortgage | 800-955-0021 | 620 Market St., One Center Square, Knoxville, TN 37902 | apply.21stmortgage.com/?sretid=3886-1 |
| InTerra Credit Union | 574-534-2506 | 106 Crystal Heights Blvd, Middlebury, IN 46540 | Call for an application |
| Cascade Loans | 480-812-3221 | 192 Cimarron Park Loop, STE B, Buda, TX 78610 | www.cascadeloans.com |
| Community Bank | 715-458-2513 | 101 W Main St., Cameron, WI 54822 | Call for an application |
| Credit Human | 866-279-1899 x6685 | 33801 1st Way South #100, Federal Way, WA 98003 | www.credithuman.com |
| Farmers Savings Bank | 319-752-6200 | 3131 Sunnyside Ave, Burlington, IA 52601 | Call for an application |
| Lake Michigan Credit Union | 616-234-6495 | 4050 Lake Dr. SE, Grand Rapids, MI 49546 | Call for an application |
| Superior Choice | 715-392-5616 ext. 666493 | 2817 Tower Ave., Superior, WI 54880 | Call for an application |
| West Central Bank | 217-476-3325 | 400 E Buchanan St., Ashland, IL 62612 | Call for an application |
| Triad Financial Services | 800-522-2013 | 4336 Pablo Oaks Court, Jacksonville, FL 32224 | www.triadfs.com |
You choose which of these lenders receives your credit application, and you may apply to as many as you like. We are happy to send the application to the ones you pick β call us at (260) 308-1457 or ask for the lender sheet when you visit the showroom. Some of these lenders also gave us a direct loan officer to work with; we pass that contact along with the sheet rather than publishing it here.
Compare Loan Types
| Loan Type | Down Payment | Credit Score | Best For |
|---|---|---|---|
Chattel Loan | 5-10% | 575+ | Home-only purchases, no land required |
Land-Home Package | 5-10% | 600+ | Buyers who own or are buying land |
Conventional | 10-20% | 620+ | Modular homes with good credit |
Pros of this route
- βMultiple lender options ensure competitive rates
- βFast approval - often within 3-7 days
- βOptions for various credit situations
- βNo land required for chattel loans
- βLand-home packages for buyers who own land
What to Consider
- β’Chattel rates higher than traditional mortgages
- β’Shorter loan terms (15-20 years typical)
- β’Credit score affects rate significantly
- β’Land required for best mortgage rates
- β’Pre-qualification recommended before shopping
Financing FAQs
Common questions about manufactured home financing and loan options
What is the difference between a chattel loan and a mortgage?
How long does loan approval take for a manufactured home?
Can I refinance my manufactured home later?
What documents do I need to apply for manufactured home financing?
Does Factory Direct Homes Center offer financing?
What interest rates can I expect for a manufactured home loan?
Can I get pre-qualified before choosing a home?
Are there special programs for first-time manufactured home buyers?
Sources & References
- Consumer Financial Protection Bureau (CFPB) β Consumer guide to manufactured home financing, chattel loans and buyer protections
- U.S. Department of Housing and Urban Development (HUD) β Manufactured housing regulations and consumer protections