The main loan types
Chattel loan. The home is financed as personal property, separate from the land. This is common when the home sits on leased land in a park. Because the lender's collateral is the home, rates and terms can differ from a traditional mortgage.
Land-home package. The land and the home are financed together. The property, title, utilities, and improvements matter. This can look more like a traditional mortgage, depending on how the home is titled and installed.
ITIN financing. Some providers offer loans to buyers who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number. Not every lender offers it, and the documentation requirements vary. Ask for a referral and confirm the terms directly with the provider.
What lenders look at
Income stability, debt-to-income ratio, credit history, down payment, cash reserves, and the collateral. For a manufactured home, the lender also looks at the home's age, condition, title, installation, and whether it is on owned or leased land. A home that is not properly titled or installed can be harder to finance.
If your credit is thin or imperfect, ask about the lender's manual underwriting or alternative documentation programs. Do not assume you are disqualified. Ask what would improve your file.
Documents to prepare
Government-issued identification (or ITIN documentation if applicable), recent pay stubs or proof of income, bank statements, tax returns, proof of address, and information about the home and land. If you are self-employed, expect to provide additional documentation. If you have a trade-in, bring the Statement of Ownership and lender payoff information.
Keep copies. Do not send original documents to an unverified person. Confirm the lender's identity and license before sharing sensitive information.
Questions to ask before you sign
What is the annual percentage rate, not just the monthly payment? Is the loan fixed or adjustable? What is the term? Is there a prepayment penalty or balloon payment? What fees are financed? Is the home titled as personal property or real property? What happens if I sell or move the home? What is the total amount paid over the life of the loan?
Compare at least two written Loan Estimates. A lower monthly payment can cost more over time if the term is longer or the fees are higher.
How trade-in equity fits in
If you own a manufactured home, its trade-in value can reduce the amount you need to finance. That can lower the loan-to-value ratio and may improve the terms available to you. Ask the lender how they treat the trade-in credit and whether the old home's payoff is handled at closing.
The best plan is usually built in this order: know the trade-in value, know the payoff, choose the home, then talk financing. That sequence avoids choosing a home you cannot comfortably afford.
Frequently asked questions
Do you offer ITIN financing?
We can connect you with qualified providers that offer ITIN financing. Eligibility and terms vary by lender.
What credit score do I need?
There is no single cutoff. Different lenders have different programs. Ask about manual underwriting and what would improve your application.
How much down payment do I need?
It varies by program, lender, and property. Ask for the total cash needed at closing, including fees and prepaids.
Can I finance a used home?
Financing may be available for new and used homes. The age, condition, and title history can affect the options.
Are you a lender?
No. We are a licensed Texas retailer (RBI#32744) and provide guidance. We connect you with qualified financing providers and do not make credit decisions.
This guide is general information, not financial or legal advice. Financing is provided by third-party lenders. Eligibility, rates, fees, and terms vary and are subject to approval.
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