Also called a Conventional Mortgage, a Land/Home loan is a great option for buyers looking to purchase a manufactured home and land together in one package. This loan type offers a convenient one-time close, and site improvement costs can often be rolled right in. You won't pay monthly Private Mortgage Insurance (PMI), and you may even be able to buy down your interest rate. No permanent foundation or survey is required, and depending on your situation, you may qualify for a longer loan term with closing costs and points financed into the loan itself, keeping more cash in your pocket at closing.
Also known as Chattel loans, Home Only financing is designed for buyers purchasing or refinancing a manufactured home that isn't permanently attached to real estate. Down payments can be as low as 5%, and loan terms typically run up to 20 years. Interest rates tend to run a bit higher than a conventional mortgage, usually 3 to 4 percent more, but our team at Value Home Center knows this loan type inside and out and can walk you through qualifying for it, so you can move forward with the home you've been picturing.
Had some bumps in your credit history but you're in a good position to take on a mortgage today? FHA loans for modular and manufactured homes are worth a look. These loans often come with more forgiving credit score and down payment requirements than conventional financing, meaning past credit issues, or even a thin credit file, won't necessarily stand between you and a new home.
For active duty military, veterans, and their spouses, VA loans offer another strong path to homeownership. Alongside relaxed credit requirements, VA loans come with real perks: qualifying buyers can purchase with no down payment, there's no monthly PMI, and the appraisal is handled independently by the VA, keeping the process fair and free of lender influence.
Financing doesn't have to be stressful, we're here to make it easy. Value Home Center works with trusted lenders, and your local bank or credit union is always a solid place to start too. Whatever questions come up along the way, our team is ready to walk you through it.
Need help getting started? Give us a call or stop by and set up a time to visit.