Best Mobile Home Loans

Manufactured Nationwide lends in all 50 states and has over 100 years of combined manufactured home lending experience. Unlike other lenders, they don’t just have a division devoted to manufactured and mobile home loans—their entire company focus is on these types of loans. Their goal is to provide loans to those who may not qualify elsewhere. 

We chose Manufactured Nationwide as our best overall mobile home loan provider because it offers competitive fixed rates, lends in all 50 states, and it offers loans for different types of mobile homes. Their process is also relatively quick. The entire loan process can take as little as 30 days to close on your new home. 

Unfortunately, Manufactured Nationwide has suspended their one-time close construction loans for manufactured homes, but they are still offering one-time close loans for true modular prefab and stick-built properties, and alternative construction loans for mobile homes are available.

Manufactured Nationwide’s services and features include:

• Loans for new and used manufactured and modular homes
• Loans for single-, double-, and triple-wide mobile homes
• One senior banker to work with you throughout the entire purchase process
• Construction loans
• Offers government-backed loans including FHA and VA for qualifying homes that must be affixed to land that you own

Keep in mind that it doesn’t offer loans for homes in a mobile home park or on leased land. 

Loan requirements and pricing for Manufactured Nationwide:

• Loans up to $1.5 million for purchases
• Down payments range from 0% for a VA loan to 3.5% for an FHA loan
• Minimum FICO score is 620

Unfortunately, Manufactured Nationwide's website does not contain detailed information about their rates and terms. The only way to determine what's available is to use their online quote tool.

Customers of Manufactured Nationwide like its customer service, timely responses, and the overall professionalism of the company.

VMF is a national lender offering financing for manufactured homes. It has a partnership with Clayton Homes, a largely manufactured home builder, and is a Berkshire Hathaway company. It has been in business since 1974 and has closed more than 200,000 loans. 

We chose VMF as our runner-up for best overall mobile home loans because it offers loans nationwide, has competitive rates with flexible loan qualifications, and its partnership with Clayton Homes makes it easier for clients to go through the home buying process. Typically, your closing can be set three days after you sign your documents.

VMF services and features include:

• New and used manufactured and mobile home loans
• Home improvement loans including financing for energy-efficient improvements
• Loan servicing for traditional loans
• Fixed-rate and FHA-backed loans
• Traditional home loans

Loans start at $10,001 and down payment requirements vary. Other factors to consider are debt-to-income ratio and interest rate when applying for a loan. VMF offers loan terms of up to 30 years.

VMF has average reviews. Customers primarily complain on third-party websites about high interest rates, but the reviews on their website were positive stating that securing financing was easy and they provide quality customer service.

21st Mortgage Corporation operates in 46 states (excluding Alaska, Hawaii, Massachusetts, and Rhode Island) and Washington D.C. It was founded in Knoxville, Tenn., in 1995 with a staff of four and has grown over the past 25 years to over 800 employees. Clayton Homes acquired the company in 2003, and 21st Mortgage Corporation owns and services more than 180,000 mortgages valued over $9 billion. 

We choose it as our best mobile home loan for borrowers with bad credit because it does not require borrowers to have a minimum FICO score in most states and it also offers mobile home loans in mobile home parks, which not all lenders offer. Home-only loans take about four to six weeks to close and loans with land may take up to eight weeks to close. 

21st Mortgage Corporation's services and features include:

• Mobile and manufactured home loans for new and pre-owned homes
• Auto and mobile home insurance
• Loans for homes located in mobile home parks
• Loans for homes with permanent and non-permanent foundations
• Innovative loan programs with down payments made up of cash, land equity, or trades

Loan requirements and pricing for 21st Mortgage Corporation are as follows:

• Loans start at $15,000
• Down payments range from 0% to 35% and can be a combination of cash, trade, and/or land equity
• Minimum FICO score is typically 575
• Debt-to-income ratio needs to be under 43%, or additional documents may be required
• Average interest rate is 6.35% to 11.99%
• Loan term varies depending on the type of loan
• Zero-money-down loan products are available for qualifying loans used on primary residences

While their customer service gets mixed reviews, customers find the company helpful with payments and making payment arrangements, and feel the company is professional and responsive.

Based in New Jersey, eLEND is a division of American Financial Resources, Inc., and combines innovative technology with educational resources in order to simplify the mortgage process. It strives to provide affordable home financing options to first-time buyers and existing homeowners.

We chose eLEND as our best mobile home loan for low or no down payments because it offers multiple loans including government-backed loans with down payments as low as 0% and other loan programs offering down payments of 3.5% with down payment assistance for qualified borrowers. If you meet eLEND’s lending criteria but don’t have a large down payment, it may be the best mobile home loan for you.

eLEND's services and features include:

• Mobile home loans
• Vacation home loans
• Multi-family home loans
• Investment properties
• Refinances

Note that eLEND only lends in USDA-deemed rural areas, so make sure to do your research and find out if where you are purchasing a mobile home qualifies. 

Loan requirements and pricing for eLEND are as follows:

• Down payments start at 0% to 3.5% and down payment assistance programs are available if you qualify
• Minimum FICO score is typically 620, but a 660 or higher makes you eligible for more loans 
• Loan terms are typically 30 years

Online reviews for eLEND are mostly favorable, with customers appreciating the friendly customer service, responsiveness, and the multiple types of loan offerings.