Chattel and Mobile Home Loans: Financing Options for New and Preowned Homes
Mobile and manufactured homes can offer a more affordable path to homeownership or investment, but traditional mortgage financing is not always the right fit—especially when the home is not permanently attached to owned real estate.
A chattel loan finances the home itself rather than the land beneath it. This makes it a potential financing solution for eligible manufactured or mobile homes located in communities, parks, leased-land sites, family land, or on land owned by the borrower.
Eligible Homes and Locations
Both new and preowned homes may qualify, subject to lender underwriting and property eligibility requirements.
Eligible home locations can include:
- Manufactured-home communities and mobile-home parks
- Homes on borrower-owned land
- Homes placed on family-owned land
- Homes located on leased land
- Other qualifying community or land-lease arrangements
Because the land situation can vary significantly, it is important to review the property location, lease terms when applicable, and the home’s age, condition, and title details early in the process.
Loan Terms and Financing Highlights
| Feature | Available Terms |
|---|---|
| Eligible homes | New and preowned mobile or manufactured homes |
| Maximum loan term | Up to 300 months |
| Minimum down payment | 5% |
| Maximum loan-to-value | 95% LTV |
| Minimum loan amount | $10,000 |
| Maximum loan amount | $600,000 |
| Fees | Certain allowable fees may be rolled into the financing, helping reduce cash needed at closing |
A 95% maximum LTV can be especially valuable for qualified buyers who want to preserve cash reserves. Where permitted, rolling eligible fees into the loan can further reduce the out-of-pocket funds required to close.
Why Chattel Financing Matters
Many buyers assume they need to own the land beneath a manufactured home to obtain financing. While land ownership can create additional options, chattel financing may be available for homes in parks, communities, leased-land locations, and family-land arrangements.
This flexibility can help buyers pursue homes in established manufactured-home communities, purchase a home on family property, or finance a home without having to purchase land at the same time.
Get Started With B2B Funding
Chattel and mobile-home lending can involve unique requirements related to the home, title, location, community rules, land lease, and borrower profile. The best first step is to review the specific home and location before making assumptions about financing.
If you are buying a new or preowned mobile or manufactured home, contact B2B Funding to discuss your options.
Email: josh@b2bfundingllc.com
Text or Call: 347-794-1592