Manufactured Home Financing

LA Manufactured Homes has many lenders that offer a range of manufactured home financing options to meet the needs of all types of home buyers.

The Right Loan For Your Unique Situation

Here’s just a little information on some of the loan types that our lenders offer:

FHA Loans

FHA loans are insured by the FHA and best suited for borrowers who don’t have a large down payment and that have less than perfect credit. Through our FHA loan programs, we can often qualify individuals who have had past credit challenges. We also can often assist buyers with higher debt to income ratios who have other strong compensating factors to help justify their ability to apply a higher percentage of their monthly income toward their housing payment. To be eligible for FHA financing, the manufactured home you are purchasing must have been built after June 15, 1976, and be permanently fixed to a foundation.

Rural Development Loans

The US Department of Agriculture (USDA) offers a Rural Development loan that is similar to an FHA loan. The loan is guaranteed by USDA, so the lenders can offer more favorable terms. USDA loans do not have a down payment requirement and will loan up to 102% of the home’s value. USDA’s Rural Development’s mission is to improve the quality of life in rural communities by providing loans for housing and community facilities. Many of these areas defined as rural communities are underserved by mortgage lenders, and as a result, the people living in those communities may not have the choices that others have when it comes to obtaining a mortgage.

VA Loans

We have special VA loans for veterans in need of financing for manufactured homes. While many manufactured home financing companies do not offer VA loans, we provide lenders that can provide these loans to qualifying veterans with a credit score of 620 or higher. Our VA loans can cover 100% of the loan cost, meaning a $0 down payment.

Conventional Loans

A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate.

Our lenders are Cascade, 21st Mortgage, CSL, Triad, & CountryPlace

MH Advantage ®

With Fannie Mae’s innovative MH Advantage offering, designated manufactured homes designed with features similar to site-built homes are now eligible for financing terms more consistent with standard conventional loans. Combine features, like a down payment as low as 3%, with the lower price and customizable finishes of modern manufactured homes!

Program Benefits

  • Allows new manufactured homes to be appraised using site-built comparable homes vs. existing manufactured homes
  • Can be combined with Fannie Mae's HomeReady program for the same 3% down requirements
  • Helps address the affordable housing crisis - customers can now get the benefits of a manufactured home without paying the costs associated with stick-built
  • Allows customers to use currently owned or gifted land as their down payment - customers could come to closing with no additional money out of pocket
  • Lower monthly mortgage insurance premiums for homes as they are classified as site-built

If you still have questions about the financing process, or you’re not sure which loan is right for your home, let us know. We’d be more than happy to answer all your questions prior to matching you with a lender. Just fill out the form below and one of our finance specialists will get back to you as soon as possible. Fields marked with an asterisk * are required.