Quick Rate Comparison
*Rates are estimates as of 2026. Actual rates vary by lender, credit score, and market conditions.
Compare Loan Types
Land-Home Package
Land-home packages finance both the manufactured home and the land it sits on in a single loan. This works like a traditional mortgage for homes placed on a permanent foundation.
Pros
- ✓Finances home and land together
- ✓Competitive interest rates
- ✓Longer terms available
- ✓Builds equity like site-built home
Considerations
- •Must own or be buying the land
- •Home must be on permanent foundation
- •Stricter property standards
- •Larger down payment than chattel
Requirements
- Land included in purchase
- Home on permanent foundation
- Debt-to-income ratio under 43%
- Stable employment history
- Home must be primary residence
Conventional
Conventional mortgages work for modular homes on permanent foundations, just like site-built homes. Best rates go to buyers with strong credit and larger down payments.
Pros
- ✓Best interest rates
- ✓No mortgage insurance with 20% down
- ✓Flexible terms (15-30 years)
- ✓No government fees
- ✓Can be used for investment properties
Considerations
- •Higher credit requirements
- •Larger down payment needed
- •Modular homes only (typically)
- •Stricter appraisal standards
- •Private mortgage insurance under 20%
Requirements
- Minimum 620 credit score
- 5% down minimum (20% avoids PMI)
- Debt-to-income ratio under 36-43%
- Stable employment history
- Home on permanent foundation
Chattel Loan
Chattel loans treat your manufactured home as personal property (like a car), not real estate. Easier to qualify, but higher rates. Many buyers use chattel temporarily, then refinance to a mortgage after buying land.
Pros
- ✓Easier qualification
- ✓Faster approval process
- ✓No land required
- ✓Lower closing costs
- ✓Can refinance later
Considerations
- •Higher interest rates (7-12%)
- •Shorter terms (15-20 years)
- •May not build equity as fast
- •Fewer lender options
- •Interest not tax deductible
Requirements
- Minimum 575 credit score
- 5-10% down payment
- Proof of income
- Home must be primary residence
- Home must be new or near-new
Which Loan Is Right for You?
If You Own Land...
A land-home package or conventional loan often offers the best rates. Your home will appreciate like site-built real estate.
Explore Land-Home Loans →If You Don’t Own Land...
Chattel loans work for home-only purchases. Buy the home now, add land later, then refinance.
See Home-Only Options →If Your Credit Needs Work...
Chattel loans are more forgiving on credit. We work with lenders who specialize in credit challenges.
Credit-Challenged Options →If You Want Lowest Payment...
A land-home package or conventional loan with longer terms keeps monthly payments manageable.
Low Payment Options →If You’re Buying Modular...
Conventional mortgages treat modular homes like site-built. Best rates, no government fees, and standard mortgage terms.
Modular Financing →Get Pre-Qualified
Pre-qualification shows sellers you’re serious, helps you understand your budget, and speeds up the buying process. You arrange it with a lender you choose — we are not a lender and do not recommend one.