Manufactured homes are prefabricated, or built in a factory offsite, and then transported to a home site. Manufactured homes can be single sections, often referred to as a single wide mobile home, or in multiple sections which are joined on site. These may be double wide or triple wide mobile homes.
eLEND is pleased to offer manufactured home financing for most types of mobile homes located on owned land.
In order to be eligible for a loan to purchase a manufactured unit, both the borrower and the property must meet specific requirements. For example, the borrower must qualify based on income and credit requirements, and the home must:
In addition, the loan must also cover the land the home sits on.
Some of the benefits provided by the specialty FHA-mortgage available through eLEND for financing the purchase or refinance of a manufactured home include:
Even borrowers with less than perfect credit may be pleasantly surprised to learn that they qualify for a manufactured home loan from eLEND.
Additional terms and conditions apply. Contact eLEND for more information.
FHA loans tend to have highly competitive pricing, making them extremely popular among borrowers for a wide variety of property types.
Borrowers who qualify may be able to put as little as 3.5% down when purchasing a manufactured home.