Mortgage Glossary
Manufactured Home Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A manufactured home loan finances a factory-built home, with terms that depend on whether the home is titled as real property.
What Manufactured Home Loan means
FHA, VA, and some conventional programs finance manufactured homes affixed to a permanent foundation on owned land. Homes titled as personal property may need a chattel loan instead.
Florida example
A Florida buyer placing a new manufactured home on a permanent foundation in a rural county can use an FHA loan. Meanwhile, a home in a leased-land park typically requires chattel financing at a higher rate.
Related Mortgage Terms
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