🏠 Manufactured Home Loan Calculator
Calculate financing for mobile homes, modular homes, and manufactured housing
🏡 Home and Loan Details
📍 Additional Costs (Optional)
How to Use: Select whether you own the land (mortgage) or are financing just the home (chattel). Enter your home price and down payment. Choose your loan term and interest rate. Add property taxes, insurance, and lot rent if applicable. The calculator shows your monthly payment with complete breakdown and total costs.
🏡 Manufactured Home Loan Types
| Loan Type | Requirements | Interest Rate Range | Max Loan Amount | Down Payment | Max Term |
|---|---|---|---|---|---|
| FHA Title I (Chattel) | Home only, no land required, must be primary residence | 7% to 10% | $69,678 (single) / $130,357 (multi) | 5% minimum | 20 years |
| FHA Title II (Mortgage) | Home + land, permanent foundation, HUD code compliance | 6% to 8% | Standard FHA limits by county | 3.5% minimum | 30 years |
| Conventional Manufactured | Home + land, permanent foundation, titled as real property | 6.5% to 9% | $766,550 (conforming) | 5% to 10% | 30 years |
| VA Manufactured | Veterans/military, home + land, permanent foundation | 6% to 8% | No set limit (based on VA entitlement) | 0% (VA qualified) | 30 years |
| Private Chattel | Home only, titled as personal property, easier approval | 8% to 12% | Varies by lender ($50K-$150K typical) | 10% to 20% | 15 to 20 years |
| USDA Rural Housing | Rural areas, home + land, income limits apply | 5.5% to 7.5% | Based on area median income | 0% to 3.5% | 30 years |
📋 Qualification Requirements
| Requirement | FHA Title I | FHA Title II | Conventional | VA Loan |
|---|---|---|---|---|
| Minimum Credit Score | 580 to 620 | 580 (3.5% down) / 500 (10% down) | 620 to 660 | No minimum (lender sets) |
| Debt-to-Income Ratio | 43% max (some allow 45%) | 43% max (some allow 50%) | 43% to 45% max | 41% preferred (some allow 50%) |
| Land Ownership | Not required (chattel only) | Required (must own or purchase) | Required (must own) | Required (must own or purchase) |
| Foundation Type | Any HUD-approved (can be wheels) | Permanent (wheels removed) | Permanent (wheels removed) | Permanent (wheels removed) |
| Property Classification | Personal property (chattel) | Real property (deeded with land) | Real property (deeded) | Real property (deeded) |
| Home Age | New or used (built after June 1976) | Any age if HUD certified | Any age if meets standards | Any age if habitable |
🏗️ Foundation and Installation Requirements
| Foundation Type | Description | Financing Impact | Cost Range | Best For |
|---|---|---|---|---|
| Permanent Foundation | Poured concrete slab or frost wall, wheels removed, cannot be moved | Qualifies for mortgage loans, better rates | $5,000 to $15,000 | FHA Title II, conventional, VA loans |
| Engineered Foundation | Pier and beam system meeting HUD standards, semi-permanent | May qualify for some mortgages with engineer certification | $3,000 to $8,000 | Transitioning to real property |
| Non-Permanent Setup | Blocks or piers, wheels can remain, easily moveable | Chattel loans only, higher rates | $1,000 to $4,000 | FHA Title I, private chattel loans |
| Basement Foundation | Full or partial basement under home, permanent installation | Best financing terms, treated like site-built | $15,000 to $35,000 | Conventional, FHA Title II, VA |
💰 Cost Comparison: Chattel vs Mortgage
| Scenario | Loan Type | Monthly Payment | Total Interest | Total Paid |
|---|---|---|---|---|
| $75,000 Home Only | Chattel 15 years @ 8.5% | $740 | $58,200 | $133,200 |
| $100,000 Home + Land | FHA Title II 30 years @ 6.5% | $632 | $127,544 | $227,544 |
| $100,000 Home + Land | Conventional 30 years @ 7.0% | $665 | $139,508 | $239,508 |
| $120,000 Home + Land | VA 30 years @ 6.25% | $738 | $145,680 | $265,680 |
| $60,000 Home Only | Private Chattel 15 years @ 9.5% | $627 | $52,860 | $112,860 |
🎯 Down Payment Impact on Rates
| Down Payment | Typical Rate (Chattel) | Typical Rate (Mortgage) | Monthly on $75K | Total Interest Difference |
|---|---|---|---|---|
| 5% ($3,750) | 9.5% to 11% | 7.5% to 8.5% | $748 (chattel 15yr) | Baseline |
| 10% ($7,500) | 8.5% to 10% | 7.0% to 8.0% | $664 (chattel 15yr) | Save $15,120 vs 5% down |
| 15% ($11,250) | 8.0% to 9.5% | 6.5% to 7.5% | $611 (chattel 15yr) | Save $24,660 vs 5% down |
| 20% ($15,000) | 7.5% to 9.0% | 6.0% to 7.0% | $556 (chattel 15yr) | Save $34,560 vs 5% down |
🏠 Manufactured Home Types
| Home Type | Description | Price Range | Financing Options |
|---|---|---|---|
| Single-Wide | One section, 14 to 18 feet wide, 600 to 1,300 sq ft | $30,000 to $80,000 | FHA Title I, chattel loans primarily |
| Double-Wide | Two sections joined, 20 to 32 feet wide, 1,000 to 2,300 sq ft | $60,000 to $150,000 | All loan types if on permanent foundation |
| Triple-Wide | Three sections, 36+ feet wide, 2,000 to 3,500 sq ft | $100,000 to $250,000 | Conventional, FHA Title II preferred |
| Park Model | Smaller RV-style unit, under 400 sq ft, recreational use | $25,000 to $75,000 | Personal loans, specialized RV financing |
| Modular Home | Built in sections, meets local building codes (not HUD), permanent | $80,000 to $300,000+ | Standard mortgages, same as site-built |
💡 Money-Saving Tips: Put down 20% or more to get the best rates and avoid PMI on mortgage loans. Consider FHA Title II instead of chattel if you can purchase land - lower rates save thousands. Install a permanent foundation to convert chattel to real property and refinance for better terms. Shop multiple lenders as manufactured home rates vary significantly. Look for USDA loans in rural areas for zero down payment options.
Important Disclaimer
This Manufactured Home Loan Calculator provides estimated monthly payments and costs for educational and planning purposes only. Actual loan terms, interest rates, and qualification requirements vary significantly by lender, borrower creditworthiness, loan type, home condition, foundation type, and market conditions.
Interest rates shown are general ranges and not guaranteed rates. Manufactured home loans typically have higher rates than conventional site-built home mortgages. FHA loan limits and terms are subject to change. VA loan eligibility requires military service verification and certificate of eligibility.
Additional costs not included in this calculator may apply, including loan origination fees, appraisal costs, title insurance, escrow fees, land survey costs, foundation installation, utility hookups, permits, and transportation costs. Chattel loans cannot be used if the home is permanently affixed to owned land in most states.
Manufactured homes must meet HUD construction standards (post-1976) and display a HUD certification label to qualify for most financing. Some lenders may not offer manufactured home loans or may have additional restrictions. Consult with licensed mortgage professionals and review all loan documents carefully. This calculator is for residential manufactured homes only and does not apply to commercial properties or RVs.