Mobile Home Loan Calculator

Interest rates on mobile home loans vary widely depending on the loan type and whether the home is classified as real or personal property. Chattel loans for homes on leased land typically range from 7% to 12%, while manufactured homes permanently affixed to owned land may qualify for conventional mortgage rates between 6% and 8%. FHA Title I loans, designed specifically for manufactured housing, offer competitive rates with down payments as low as 5%.

Down payment requirements depend on the loan program. FHA Title I loans require as little as 5% down. Conventional chattel loans from credit unions or specialized lenders often require 10% to 20%. VA loans for eligible veterans may require zero down payment if the home is permanently affixed to owned land and meets HUD standards. A larger down payment reduces your monthly payment and total interest paid over the life of the loan.

Loan terms vary by program. FHA Title I allows up to 20 years for a single-section manufactured home and up to 25 years for a multi-section home or a home with land. Conventional chattel loans typically offer terms of 15 to 23 years. If your manufactured home qualifies as real property, you may access 30-year conventional mortgage terms through Fannie Mae MH Advantage or Freddie Mac CHOICEHome programs.

A chattel loan treats the mobile home as personal property, similar to an auto loan. It is secured by the home itself, not the land beneath it. A mortgage treats the home as real property and is secured by both the home and the land. Mortgages generally offer lower interest rates, longer terms, and tax-deductible interest. To qualify for a mortgage, your manufactured home must be permanently affixed to land you own and titled as real property in your state.

Yes. The FHA offers two programs for manufactured homes. Title I loans finance the home as personal property with terms up to 25 years and require a 5% minimum down payment. Title II loans finance the home as real property with standard mortgage terms up to 30 years, but the home must be on a permanent foundation on land you own. Both programs require the home to be HUD-code compliant and built after June 15, 1976.

This calculator focuses on the loan payment itself — principal, interest, property tax, and insurance. If your mobile home sits on leased land in a community or park, you will need to budget separately for monthly lot rent, which averages $300 to $800 depending on location and amenities. Add your lot rent to the total monthly cost shown here for a complete picture of your housing expense.

Interest on a mobile home loan is tax deductible only if the loan qualifies as a mortgage — meaning the home is your primary or secondary residence and the loan is secured by the property. Chattel loans secured solely by the home as personal property generally do not qualify for the mortgage interest deduction. Consult a tax professional, as eligibility depends on how the home is titled and classified in your state.

Many lenders will not finance mobile homes built before June 15, 1976, which is when the HUD Manufactured Home Construction and Safety Standards took effect. Homes built after that date carry a HUD certification label and are eligible for FHA, VA, and most conventional manufactured home loan programs. Older units may still be financed through specialized personal property lenders, but expect higher rates and shorter terms.

According to U.S. Census Bureau data, the average sales price of a new single-wide manufactured home is approximately $85,000 to $95,000, while a new double-wide averages $150,000 to $170,000. Prices vary significantly by region, manufacturer, and included features. These figures do not include land, site preparation, transportation, or installation costs, which can add $15,000 to $50,000 or more to the total project cost.

Yes, refinancing is available for manufactured homes. If you currently have a chattel loan and have since purchased the land and permanently affixed the home, you may be able to refinance into a conventional mortgage at a lower rate. FHA, VA, and USDA all offer refinance programs for qualifying manufactured homes. Cash-out refinancing is also available through some lenders, allowing you to access equity built up in the home.

Minimum credit score requirements vary by loan type. FHA Title I and Title II loans generally require a minimum score of 580 for the lowest down payment options, or 500 with a 10% down payment. Conventional manufactured home loans through Fannie Mae or Freddie Mac typically require 620 or higher. Chattel loan lenders set their own minimums, which often range from 575 to 650. Higher credit scores unlock better interest rates across all loan types.