Mobile Home Financing

General Financing Options

In general, most land-leased mobile homes that are older than 20 years are NOT financeable and require the full cash amount at time of purchase.

Sunset Mobile Home Sales is not in the financing business and has no partnerships or other relationships with any lenders. The information provided on this page is for reference only and Sunset Mobile Home Sales does not promote, recommend or endorse any lenders or lending options listed below. All information provided on this page is for convenience only and we accept no responsibility to its accuracy.

Personal Lending Options:

Some buyers may be able to secure personal loans or other options such as:

• Personal loan from your bank or credit union
• Credit card advance

Specialized Lending Options:

Under some circumstances, individuals looking to buy a manufactured home where they rent a lot at a mobile home community can get mortgage, sometimes called a chattel loan.

The Federal Housing Administration offers a program known as Title I, designed for owners whose mobile homes are on a permanent foundation but are within a manufactured housing community.

Among the requirements for a Title I mortgage:

• The mobile home must be the borrower’s primary residence.
• The home has to be on a rental site in a manufactured home park that conforms to FHA guidelines.
• The lease agreement must meet FHA standards.

It’s not easy to find mobile home communities that meet the FHA’s strict guidelines, not many mobile home parks participate in the Title I program. You would need to contact the park office directly to see if they meet the FHA’s Title I guidelines.