Mobile homes may be more affordable than traditional homes, yet purchasing one still often requires a loan. In any case, the kinds of mobile home loans offered by each lender may vary. Many companies offer personal loans for mobile homes, while others offer a mortgage loan choice for individuals who qualify.

To assist you with finding the best mobile home financing, we checked out probably the best mortgage lenders and researched their loan offerings. Whether you’re interested in the best home value loans or loans for investment properties, we investigated the best lenders for each situation.

1. USDA

The US Department of Agriculture (USDA) offers Segment 502 direct and guaranteed loans and Area 504 home repair loans. Most USDA loans offer 100% financing, requiring no initial installment, and are intended to assist low-and moderate-income families with affording a home purchase.

USDA loans are offered through many of the lenders on our top ten records, however, buyers can also apply through the USDA Rural Advancement Loan program. These loans can be utilized to purchase, construct, repair, or refinance a primary home, including a mobile home, and you can borrow 100% of the home’s value, so there is no initial installment.

2. Vanderbilt Mortgage and Finance

Vanderbilt Mortgage and Finance (VMF) has been around for almost 50 years and is a Berkshire Hathaway company and a partner with Clayton Homes. We included this company on our rundown because of the many sorts of loans it offers as well as its drawn-out financing and fast approval. The partnership offers loans to borrowers in all 50 U.S. states.

VMF loans are available for mobile homes and manufactured homes. They can also be utilized for home improvement and to upgrade your home’s energy productivity through the eScore program. The company offers traditional home loans, FHA-backed loans, variable loans, and fixed-rate loans.

3. Manufactured Nationwide

Manufactured Nationwide is a suitable choice for those with low credit scores because different credit prerequisites depend on the ideal loan. Borrowers should have a minimum credit score of 620 for VA loans, 640 for manual underwriting, and 660 for conventional FHA loans. Initial investment prerequisites vary based on the loan, yet now and again, you don’t need to put any cash down.

Possessed by The Federal Savings Banks, a federally chartered, veteran-claimed organization, Manufactured Nationwide made the rundown because of its broad work with government-backed, low-initial investment programs. The company loans in all 50 U.S. states and offers FHA, VA, and USDA loans.

4. ManufacturedHome.Loan

An authorized nationwide mortgage specialist, ManufacturedHome.Loan works with eLEND to offer serious terms to borrowers. Those with higher credit scores may have the option to access lower interest rates because the company offers a variety of borrowing options through eLEND.

Indeed, even those with low credit scores can borrow through the company’s administration-backed programs like FHA and VA loans, and the company offers special programs for first-time home buyers. Loan maximums, interest rates, and initial investment prerequisites vary based on credit score.

5. 21st Mortgage Corporation

21st Mortgage Corporation stands out as a company that will finance both new and utilized mobile and manufactured homes on leased land. Loans are available to borrowers in each U.S. state aside from Alaska, Hawaii, Massachusetts, and Rhode Island.

21st Mortgage Corporation doesn’t need a minimum credit score, and initial investments on property range anywhere from zero to 35%. On the off chance that your credit score is below 570, a 35% upfront installment is required. Fortunately, this initial installment can come in the form of land value, trade-in, cash, or any combination of the three.