Single Wide Mobile Home Financing. 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. This loan resembles an auto loan in that the home serves as collateral for the loan.
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A chattel loan offers an in between option for mobile home financing. Single wides and other types of mobile homes generally require specific financing programs that are not offered by all lenders. Single wide homes are slightly under 15 feet wide and double wide homes are double that width.
You may be able to get a chattel loan if.
Maximum loan amounts are up to 50 000 but can be. Financing for single wide mobile homes whether you are purchasing a new single wide mobile home or refinancing an existing loan at elend we work hard to keep the financing process simple and affordable. Many banks specialize in chattel mortgages for mobile homes. A retail installment contract is the most common method for financing a manufactured home according to the united states department of housing and urban development.
