Mobile Home Lenders In California

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California Mobile Home Loans â¶ï¸? Mobile Home Financing with Graham Borrow from Mobile Magic

Finding a manufactured home loan does not have to be difficult being able to compare qualified mobile home, modular home, or manufactured home lenders has never been easier. Nexa Mortgage, the largest mortgage broker in the country, has simplified the process of finding you the right lender for you and your familys dream home.

Let our team at Nexa help you find the perfect loan, whether it be a land and home loan, a manufactured home construction loan, or just a loan for your new or used factory-built home. Use the quick contact form and we will reach out to you to determine who can best serve your manufactured or modular home financing needs. Our team and our investor partners specialize and understand the specifics of factory-built home lending and manufactured home loans.

NMLS# 1660690

This comparison is not permitted where disallowed by state law, including but not limited to any real property mortgage loan in states that disallow it without a license.

We Are Your Source For Ca Home Financing

Youve found a golden real estate opportunity in the Golden State! Let eLEND help you purchase that home in California with affordable financing options.

Or, maybe youre ready to refinance your home loan to take advantage of lower interest rates? In addition to great rates, we offer a variety of loan options to choose from including FHA, VA, USDA and conventional programs.

Thinking of buying a mobile home, manufactured home or modular home? Factory-built homes have come a long way in the past few years, an still remain one of the most affordable options for those who dream of homeownership in California. Ask an eLEND home loan specialist about purchasing a singlewide or doublewide manufactured, mobile, or modular home on owned land.

Land And Home Construction Loan Program

Land and Home Real Estate Loans Refinances & Purchase Money Conventional, FHA, VAFHA 203 rehabilitationLoans for any age pre-HUD homes Loans for manufactured home multi-family propertiesReal Estate 433A conversions programs Construction Real Estate Loans Available as FHA,VA, and USDAPermanent Loan is closed before construction begins. Land and permits are paid upfront. No

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Mobile Home Refinance Options

Eligible mobile homes can be refinanced with a variety of mortgage programs. Assuming the home is permanently affixed to land you own and meets property requirements, you may be able to refinance using any of the major loan programs.

Mobile/manufactured home refinance options:

Heres a little more information about each loan program and how to qualify.

Get Familiar With California Regulations

Mobile Homes For Sale in Ventura County, CA

California law governing manufactured housing is entitled the “Manufactured Housing Act of 1980”.

Here are the things to consider before buying a manufactured home in California. Find out the requirements of buying a mobile home in California!

1. Permits and Inspections

Permits are required to operate a mobile home, make alterations to a manufactured home, and construct a mobile home.

2. Modifying a Mobile home

Before beginning any work to alter your manufactured home,, you must first obtain a permit. There is a certain Application form that has to be filled out carefully and accordingly. Application form for alterations to mobile homes.

3. Registration and Titling

There are special services that can assist you to register and title your mobile homes successfully and get the local permits needed for the process. Not doing so will cause many issues and can cost a lot after!

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Defaulting On Traditional Mortgages

These loans offer more protection to homebuyers who are struggling with their payments. In fact, repossession is a lengthy, arduous process that involves judicial court proceedings that most lenders would rather agree to loan modifications.

The repossession process in conventional mortgages can take anywhere from one year to four years, significantly shorter than in chattel loans.

Step-by-Step Guide in Mobile Home Financing:

Follow the guidelines below if youre serious about securing a mobile home loan in California.

  • Check your credit scores.

Your credit score will largely influence your qualification for loans, the interest rates and APRs, and the maximum loanable amount. To check your credit history, order online from or call 1-877-322-8228.

Once you get your credit report, check for any mistake, which you can dispute with these three nationwide credit bureaus: Equifax, TransUnion, and Experian.

The location, size of the home, and its architectural elements will determine the loanable amounts, interest rates, and even your eligibility for loans. For example, some lenders dont finance older manufactured homes and those that cost more than $100K.

Each lender has its specific requirements based on the value and age of mobile homes.

In general, it is easier to qualify for chattel and mortgage loans when the mobile has its wheels removed because lenders see it as a sign of stability of the asset they are going to finance.

How To Choose An Online Mortgage Lender

When evaluating online mortgage refinance companies, its crucial to verify that they service the right types of loans. The mortgage refinance lender walks the borrower through each step of the process, so its important to be comfortable with their level of customer service and availability.

Most importantly, do some research. Learn a little bit about types of loans to understand your needs, and be sure to shop around for the best refinance rates. Be sure to pay attention to any added fees.

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What Credit Score Do I Need To Buy A Mobile Home

The lenders weve reviewed and selected as the best can work with low credit scores in the 500 and 600 range. A credit score lower than 500 may not qualify at all.

Of course, higher credit scores will always get you better rates and terms. Credit scores in the 700s and 800s will get the lowest interest rates.

If you have a credit score on the lower end, look for a lender that is strong in the USDA, FHA, and VA programs. Conventional loans will not be so forgiving of scores below 700. You may get your loan approved, but it will carry higher rates and a term of 20 years or less.

Mobile Manufactured Modular Home It Makes A Difference For Refinancing

Mobile Home Living in Southern California â Pros and Cons

Today, mobile homes are more often called manufactured homes or modular homes. In fact, the terms are often used interchangeably in the industry. But there are some key differences and they can affect financing and refinancing options for your mobile home.

Brousseau explains:

  • A mobile home is a residence that has or used to have axles and wheels. Its titled as a motor vehicle. True mobile homes were built prior to June 15, 1976
  • A manufactured home is constructed entirely in a factory. Its brought to the home site in one or more pieces. These come in both single-wide and double-wide varieties
  • A modular home is mostly constructed in a factory, but its brought to the home site in multiple pieces to finish construction. Once built, you cant move a modular home. These also come in both single-wide and double-wide homes

If your home is still technically mobile, it cannot be financed or refinanced with a mortgage loan. But if its fixed to a foundation and considered real property, it can likely be financed or refinanced.

If your home is fixed to its foundation and considered real property, it can likely be financed or refinanced with a mortgage loan.

Technically, any manufactured home built prior to June 15, 1976, is considered a bona fide mobile home. And those built after that date are considered manufactured homes.

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Why Choose An Fha Loan

  • FHA loans are available to home buyers and homeowners with less than perfect credit
  • Down payments can be as low as 3.5 percent
  • This low down payment opportunity makes an FHA loan a very popular choice for first-time home buyers
  • Higher cash out limits than many other conventional financing options in the State of California
  • Take the hassle and much of the cost of refinancing your California home with a streamline FHA refinance loan. The streamline refinance option lets you take advantage of lower interest rates without much of the paperwork and steps required through other refinancing programs
  • eLENDs FHA loans can be used to finance mobile homes in California. Both singlewide or doublewide mobile and manufactured homes on owned land are eligible. Other conditions apply

Santiago Financial Insurance Services

Did you know that Santiago Financial can help you insure your manufactured home? If you are currently financing your home, you are likely already required to insure your manufactured home and reviewing your policy for coverages and rates annually is always a good idea. In addition, if you own your home outright, it is wise

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Why Choose A Manufactured Home

Manufactured homes of today are well-designed, structurally sound, and affordable. They are built to both federal and state standards and must meet the guidelines put forth by HUD in 1976. Manufactured homes have changed a lot over the years and are now often indiscernible from traditional site-built homes. They can vary in size from single-wide to multi-wide and even be affixed permanently to a foundation, much like traditional housing. Advantages to manufactured home living include:

  • Affordable monthly payments.
  • Downsizing to a simpler lifestyle.
  • Easier homeownership.
  • Option to rent or own land.
  • Possible improvements, such as decks, garages, and porches.

Taxes will vary on a manufactured home, depending on location and whether it’s permanently affixed to the land. Homes placed on rented land may not have property taxes, depending on local and state laws, but typically the landowner rolls land taxes into the lot rent. If you want to learn more you can read our blog the 4 Key Advantages of Manufactured Homes.

Mortgage Vs Personal Property Loan: Whats Best For A Mobile Home Refinance

Lassen Mobile Home Park

If your manufactured home is titled as real property, you may currently have a mortgage loan.

If your manufactured home is titled as personal property, however, you likely have a personal property loan. These are also called chattel loans and they often come with higher interest rates than mortgage loans.

The Consumer Financial Protection Bureau reported that, a few years ago, around two in three purchase loans for mobile homes were higher-priced than mortgage loans. Many of these are chattel loans.

If you rent the site your mobile home is on, often the only financing option is a personal property loan, Brousseau says.

If you currently have a personal property loan, youll have to convert the title and the loan to a mortgage loan, if possible, in order to refinance at todays mortgage rates.

The good news? If you meet the requirements, you can refinance either type of loan and likely take advantage of todays lower interest rates.

However, if you currently have a personal property loan, youll want to convert the title and the loan to a mortgage loan if possible. That way you can refinance into todays mortgage rates which are likely to be much lower than your current personal property loan rate.

That requires owning the land youre on and setting the home permanently on a foundation.

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Guilds Manufactured Home Financing Options

With extensive program offerings, were a leading lender when it comes to affordable housing and manufactured home options, and were dedicated to finding mortgage solutions for you. Financing options include fixed-rate loans with credit scores starting as low as 540 and programs with low and no down payments.


Is It Hard To Finance A Mobile Home

Because mobile homes depreciate in value over time, it can be more difficult to find a lender that offers manufactured home financing. But there are still plenty of options available. Just be sure to do your due diligence to find the right one for you based on your creditworthiness, financial situation, needs and preferences.

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Best For Good Credit: Manufacturedhomeloan


For borrowers with good credit scores, ManufacturedHome.Loan features competitive rates and programs for first-time home buyers.

  • Strong mortgage offers for applicants that meet credit/income standards

  • First-time homebuyer programs

  • Can finance homes in a mobile home park

  • Can finance mobile homes as vacation homes

  • Most efficient way to get pre-qualified is through an online form

Located in New Jersey, ManufacturedHome.Loan is a licensed nationwide mortgage broker. Working with partner company eLend, they can help get you the lowest rates and best terms. As a result, MHL is our best for borrowers with good credit who qualify for those great rates.

MHL can finance new or used mobile homes for purchase or refinance. While most mobile home lenders will only lend to you for your primary residence, and even then, only if you also own the land, and with good credit above 700, MHL can expand your options. You could finance a vacation home or buy a mobile home in a park where you lease the land.

While MHL is best for borrowers with good credit scores above 700 because they can provide more options and flexibility, it also uses government-backed programs that support credit scores in the 600s, such as VA and FHA.

Pre-qualification is generally quick. Once you have selected a home, underwriting normally takes several weeks with government programs often taking longer.

California Mobile Home Mortgage Prequalification

Can You Get an FHA Mortgage on a Manufactured Home? | Mobile Home Financing

Before you start looking for your first mobile or manufactured home, we can help you with a California Mortgage Prequalification.

Understanding The California Mobile Home Mortgage Prequalification Process:

Manufactured Home Mortgage can help you get pre-qualified and on your way to home ownership! Simply fill out our mortgage prequalification form securely on our website. With a prequalification letter in hand, you know that you may get approved for a mortgage before you even look at your first potential new home.

Some realtors require buyers to get pre-qualified before even starting to house hunt. A simple mortgage prequalification letter can help you narrow your search to find exactly the home you need. It also makes the mortgage application process that much smoother.

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Defining Your Mobile Home

Even before choosing the location of your mobile home, what you need to think about is the house itself. The use of the house, the number of people in the family. This way you can manage to choose the type of mobile home best suited for your needs!

A big number of people in the state of California buy mobile homes for renting purposes! Considering that the rental fees are higher than ever before, and the cost of California manufactured homes is relatively low, people buy and give mobile homes for rent.

How To Buy Manufactured Home In California

You might be thinking what is so specific about California and isnt home buying almost the same process in each state? The answer is no, there are many specifics when it comes to the manufactured home buying process, especially in different states that do have different regulations on manufactured homes!

Manufactured housing, both in mobile home parks or manufactured housing communities, and outside of those parks or communities, provides a safe and affordable housing option for many Californians but there are things to know!

Let us guide you through the process of How to buy a manufactured home in California with detailed information on every step!

As of December 2021, here are the top states in the USA that have the highest numbers of mobile homes!

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California Home Loan Options

Popular California Loan Options

  • Fixed Rate Mortgages Conventional loans available in 30, 20, 15 and 10 year terms, eLEND offers competitive interest rates for the life of your loan. Be sure to ask an eLEND mortgage professional about our government backed products including California FHA, USDA, and VA loans which offer low and no money down financing options.
  • Adjustable Rate Mortgages The FHA 5/1 ARM provides you with some breathing room before your interest rate adjusts yearly for the rest of the loan.
  • Jumbo Loans These are a good option if youre looking to buy a home in a high market value area of California. Jumbo financing is needed when you require a loan higher than current conforming loan limits. PLEASE NOTE: THIS PROGRAM HAS BEEN TEMPORARILY SUSPENDED
  • VA Loans Eligible military veterans, active duty personnel, and surviving spouses may be able to take advantage of no money down and no private mortgage insurance loans backed by the Veterans Administration. Speak with an eLEND consultant at 634-8616 for more information about VA eligibility guidelines.

Types Of Properties We Finance

Lassen Mobile Home Park

California offers a wealth of housing options, and eLEND has financing solutions for almost all types of 1-4 unit residential properties.

eLEND offers manufactured, modular and mobile home financing through various government-insured programs such as the FHA, VA and USDA. Just as with homes built on-site, you may be able to choose between fixed-rate or adjustable-rate options . If you have had some credit struggles, you may still be able to qualify for California manufactured home financing, provided you have a score of at least 620 .

From a seaside condominium or vacation home to a starter bungalow in Bakersfield, our knowledgeable experts can match the right property with the right mortgage for you. Give us a call today to discuss all of our California home loan programs and to request a no obligation consultation.

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Submit Your Loan Application

Youll want to ensure that your application is as complete and transparent as possible. In addition, many lenders require a down payment, so be prepared to make a payment when you complete your application.

Why its important: Being able to submit a complete application will improve your odds of qualifying and keep the process running smoothly.

Takeaway: Make sure youre well-prepared to finance a mobile or manufactured home. By doing so, youre more likely to secure the best rate and most favorable terms while expediting the process.

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