Yes, you can obtain a traditional mortgage for a Manufactured Home if it is permanently affixed to a foundation and classified as real property. This type of mortgage allows you to finance both the home and the land in a single transaction, often with more favorable terms than a Chattel loan.

Yes, many Manufactured Home loans allow you to finance both the Manufactured Home and the land it sits on as a single transaction. This is typically the case when the home is permanently affixed to the land, and the property is considered real estate.

Eligibility requirements for Manufactured Home loans vary by lender but generally include a minimum credit score, stable income, and a down payment. Additionally, the manufactured home must meet certain standards, such as being HUD-certified if it was built after 1976. The land where the home is placed must also meet specific requirements if it is included in the loan.

A Chattel loan is a type of financing used to purchase movable personal property, such as a Manufactured Home that is not permanently affixed to land. This type of loan is secured by the property itself, allowing flexibility for those who do not own the land where the home will be placed.

Unlike a traditional mortgage, which is secured by both the home and the land it sits on, a Chattel loan is secured only by the movable property, such as the manufactured home itself. Chattel loans often come with shorter terms (typically 10-25 years) and higher interest rates compared to traditional mortgages. This makes them suitable for homes in mobile home parks or on leased land.