Secure Dream Financing Using Your Manufactured Home Collateral

Types of Loans Available

Several loan options are available for those looking to use their manufactured home as collateral. These include:

• Chattel Loans: These loans are specifically designed for manufactured homes that are not permanently affixed to the land. Chattel loans typically have shorter terms and higher interest rates compared to traditional mortgages, but they offer flexibility for homeowners who do not own the land their home is on.
• FHA Title I Loans: Insured by the Federal Housing Administration, these loans are available for purchasing or refinancing manufactured homes and the land they sit on. They offer competitive interest rates and longer repayment terms, making them an attractive option for many borrowers.
• Personal Loans: For those with strong credit, personal loans can be a viable option. These loans do not require collateral, but they often come with higher interest rates. However, they provide the flexibility to use the funds for any purpose.