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Chattel Purchase Loans
Financing for manufactured and mobile homes where the home is purchased separately from the land and the buyer pays monthly space rent.
MOBILE HOME FINANCING FOR HOMES IN PARKS
Found a Mobile Home in a Park?
Qualified buyers may be eligible for 5% down with a 600+ credit score. Work directly with Bobby and ask about a seller-paid rate reduction of up to 1%.
Let’s See What You Qualify For.
Tell me a little about your purchase and I'll help point you in the right direction.
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Mobile Home Loan Options
Financing Built for Homes in Park Communities.
Financing a manufactured or mobile home in a park community is different from a traditional mortgage.
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FSBO Purchases
Buying directly from a homeowner inside a park? Bobby can help structure qualified resident-to-resident purchases and coordinate the financing and closing process. Bobby also has a blank purchase contract to provide in case the seller does not have one available.
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Flexible Occupancy Options
Programs are available for primary residences, second homes, and qualified buy-for scenarios.
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Want a Lower Interest Rate?
Seller-paid interest rate buydowns are available to lower your rate by up to 1%. The seller will need to agree to pay the cost of the buydown, and the seller also has the option of increasing the purchase price of the home to cover the buydown amount. This is a very popular option with Bobby's customers that is not available with most lenders.
Why Park Financing Is Different
Why Traditional Banks Often Can’t Finance Homes in Parks.
Most traditional banks offer real estate mortgages that require the home and land to be financed together. When the homesite is leased and the buyer pays monthly lot rent, a home-only chattel loan is often the better fit.
Traditional Banks & Mortgage Lenders
- The home and land must be included together in the purchase
- Leased-land mobile and manufactured homes often do not qualify
- Property requirements may exclude older manufactured homes
- The traditional bank process is designed for real estate, not home-only purchases in a park community with monthly lot rent
Chattel Financing with Bobby
- Land ownership is not required
- Monthly lot or space rent is allowed
- Eligible used homes built in 1977 or newer
- As little as 5% down for qualified primary-residence buyers with 600+ credit
- One point of contact from pre-approval through funding
- Same-day pre-approval responses
Mobile Home Loan Guidelines
Down Payment and Credit Guidelines
Your minimum down payment depends on the occupancy type and credit profile.
Primary Residence
600+ Credit Score5% Down
Primary Residence
550–599 Credit Score15% Down
Second Home
625+ Credit Score15% Down
Buy-For
640+ Credit Score20% Down
Down payment funds can come from cash or money you have in the bank. Minimum down payment requirements and acceptable funds are subject to borrower, property, documentation, and lender eligibility requirements.
Mobile Home Loan Payment Calculator
Estimate Your Mobile Home Loan Payment
Enter the home purchase price, down payment, estimated interest rate, loan term, and optional monthly lot rent to compare possible monthly payments. Your entries stay in your browser and are not submitted through this calculator.
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Not sure what rate to use? Rates vary based on credit score and loan details. Text Bobby for a current estimated rate.Text Bobby
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Estimated Monthly Home Payment
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Estimated Loan Amount
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Down Payment Amount
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Monthly Lot Rent
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Estimated Total Monthly Payment With Lot Rent
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Estimate only. The home payment shown is principal and interest only. It does not include monthly home insurance (Bobby can help you obtain a home insurance quote), applicable taxes, utilities, park fees, or other charges that may apply. Actual loan terms, interest rate, payment, and eligibility are subject to lender approval.
THE ROADMAP
From Pre-Approval to Closing, Simplified.
Financing a manufactured or mobile home comes with its own unique steps—so we built a streamlined path designed to eliminate the guesswork. From your initial approval to the moment you get your keys, experience a fast, clear, and stress-free journey home while receiving the most competitive interest rates.
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Start Here
Select “See If I Qualify” to unlock your competitive loan options in minutes, or connect with Bobby directly via text or phone for fast, personalized assistance.
See If I Qualify2
Get Pre-Approved
Bobby personally reviews your unique scenario, maps out your paperwork, and builds a complete file for a same-day response whenever possible so you can shop parks with confidence.
What Bobby May Need
W-2 Income
Your two most recent pay stubs may be requested.
Self-Employed
Your two most recent tax returns may be requested.
Social Security, Disability, or Retirement Income
Provide the net amount you receive each month.
Driver’s License
A clear copy of the front of your driver’s license with all four corners visible may be needed so the underwriter can verify your full legal name.
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Send the Purchase Details
Once you find your manufactured home, simply send over the purchase agreement. Bobby takes it from there—ordering the appraisal and coordinating directly with the underwriter to clear any additional file conditions.
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Close & Fund
The finish line. Bobby balances the final numbers with the closer, sends out your closing package, and ensures all seller proceeds are securely routed directly to the seller, a broker escrow account, or a title company for a clean, secure finish.
Meet Bobby Jay
Mobile Home Financing Is What I Do.
I’m Bobby Jay, a mortgage professional with more than 20 years of experience. I specialize in chattel financing for homes in park communities and work directly with buyers, Realtors and community managers from pre-approval through funding.
Competitive interest rates
Special program that may reduce your interest rate by 1%
20+ years of mortgage experience
Specialized in park-community financing
Direct access from pre-approval through funding
Available 24/7, including evenings—always answers calls and responds quickly to texts
THE ADVANTAGE
Why Work With Bobby?
You get one dedicated point of contact from start to finish. Forget the frustration of bouncing between corporate call centers, generic websites, or different departments. From your initial application to the moment the funds clear, you have one person to call, text, or email throughout the entire transaction.
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Mobile Home Financing Focus
Get specialized experience built strictly for manufactured home financing. Bobby focuses exclusively on chattel loans for homes located in park communities with monthly lot rent, ensuring your file is handled properly from day one.
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Fast Pre-Approval & Clear Answers
No waiting games. Bobby personally reviews your unique scenario, answers your questions, and works fast to submit a complete file to our dedicated lender for a same-day pre-approval response whenever possible.
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Real Estate & Park Coordination
Bobby proactively communicates with your real estate agent, the seller, and the community management team. Everyone stays aligned on exactly what file conditions are needed, when the appraisal is ordered, and what happens next.
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Secure Closing & Final Funding
Bobby remains fully hands-on through the finish line—balancing the final numbers with the closer, sending out your closing package, and ensuring all seller proceeds are securely routed directly to the seller, a broker escrow account, or a title company.
Found a Mobile Home You Want to Buy?
Send me your information and I'll help you figure out the best next step.
Helpful Tools & State Guides
Mobile Home Financing Resources
Use the payment calculator, explore state financing guides, or connect with Bobby about a home for sale in your park community.
Free Calculator
Mobile Home Loan Payment Calculator
Estimate the monthly home payment and include optional monthly lot rent for a clearer view of the potential housing cost.
Use the Payment CalculatorMichigan Financing
Michigan Mobile Home Loans
Learn about chattel financing for new and eligible used homes located in Michigan park communities with monthly lot rent.
Explore Michigan Mobile Home FinancingFlorida Financing Guide
Florida Mobile Home Loans on Leased Land
See why traditional mortgage lenders may decline leased-land purchases and how home-only chattel financing works.
Read the Florida Financing GuideFor Park Managers
FSBO Financing Support
Have a resident selling a home directly to a buyer? Bobby can help qualified buyers with financing and coordinate with the community.
Send Bobby a Park ReferralFrequently Asked Questions
Mobile Home Financing Questions
Yes. Bobby specializes in chattel financing for manufactured and mobile homes in park communities where the homeowner pays monthly lot or space rent. The loan finances the home itself rather than the land, subject to borrower, home, community, title, and lender eligibility requirements.
A chattel loan is financing for the manufactured or mobile home itself when the land is not part of the purchase. This is commonly used for homes located in park communities where the homeowner pays monthly lot rent.
Current minimum guidelines shown on this site begin at a 550 credit score for a primary residence. A 600+ credit score may qualify for as little as 5% down, while a 550–599 score has a 15% minimum down payment guideline. Second homes currently require at least a 625 score, and Buy-For transactions require at least a 640 score. All guidelines are subject to lender approval and can change.
For a primary residence, the current minimum guideline is 5% down with a 600+ credit score and 15% down with a 550–599 score. A second home has a 15% minimum down payment guideline with a 625+ score, and a Buy-For transaction has a 20% minimum down payment guideline with a 640+ score. Final requirements depend on the borrower, home, documentation, and lender approval.
Yes. That is one of the main uses of a chattel loan. You can finance the home while leasing the homesite in a park community and paying monthly lot or space rent.
Use the dedicated Mobile Home Loan Payment Calculator. Enter the home purchase price, down payment, estimated interest rate, loan term, and optional monthly lot rent to see an estimated principal-and-interest payment and estimated total with lot rent.
Depending on the transaction and lender eligibility, fixed-rate terms of 10, 15, 20, and 25 years may be available for chattel financing. Bobby can review the home and borrower information and explain which terms are available for the specific transaction.
Yes. Used manufactured and mobile homes in park communities may be eligible for chattel financing. Under the current program guidelines Bobby works with, homes built in 1977 or later may be eligible, subject to the home's condition, title, community, borrower qualifications, and lender approval.
Yes. Eligible manufactured and mobile homes may be financed even if they have been moved twice. Bobby specializes in chattel financing for multi-move homes and can review the home's title, condition, installation, location, and community information to determine which program may be available. Financing remains subject to borrower, property, and lender approval.
Still Have a Question?
Have a mobile home in mind or need help with a specific financing scenario?
Contact Bobby directly.