Mobile Home Financing. Founded in 1985 first credit corporation is a licensed lender and insurance agency for mobile and manufactured homes. Do you live in connecticut delaware massachusetts maryland new jersey new york pennsylvania north carolina south carolina or georgia.
Apply for a manufactured home loan today. Financing manufactured mobile homes under the title i program fha approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a manufactured home and or lot. A chattel loan is one of the most common ways to finance mobile homes that sit on land leased properties.
Financing is challenging for any homeowner and that s especially true when it comes to mobile homes and some manufactured homes.
We are currently financing manufactured homes in 10 states. Fha insures the lender against loss if the borrower defaults. Because you don t own the land you lease you can t use a traditional mortgage because you can t fix the home permanently to a foundation. Mobile homes often cost between 60 000 and 100 000 which is more than many people can afford to pay out of pocket.