Finance

Heart Homes of Harrison

Financing Options Available

As part of our overall service to you, we will sit down and assess your unique financial picture. Together, we can establish the best possible loan scenario for you.


Buying a new manufactured or mobile home is a significant financial decision—often one of the biggest investments you’ll make in your lifetime. The good news is that there are plenty of financing options available to help make the process easier. Before you dive in, it’s important to understand your choices. Let’s take a quick look at some key options and considerations for financing your new manufactured home:

Option 1

Cash Purchase

Option 2

Conventional Mortgage

A conventional mortgage finances your home and land together as real property. This process typically involves a loan application and credit approval through a bank, credit union, or mortgage broker, followed by a closing to finalize ownership.


This is most common when purchasing the home and the building site as a package.

Option 3

Chattel Mortgages

Chattel mortgages are personal property loans used when financing only the home—not the land. This option is common if you don’t own land yet, already have access to land, or plan to place your home on leased property. Unlike conventional mortgages, chattel loans provide a Title instead of a Deed.


They’re often the go-to choice for homes in manufactured home communities or parks where the land isn’t owned by the buyer.

Hand holding a stack of $100 bills, showing the face of Benjamin Franklin.

Quick Step Guide

Please note this guide is for a typical chattel home loan. Conditions are subject to change based on the lender's requirements or if the loan is a land-home loan.


STEP 1:  Choose a Home

STEP 2:  Apply for a Loan

STEP 3:  Receive Approval

STEP 4:  Required Documents

  • Social security card
  • Driver's license
  • Current pay stub
  • Current W-2
  • 2 months of bank statements
  • Down payment and proof of origin

STEP 5:  Contract Documents

STEP 6:  Deliver Home

The Closing Costs

These fees are similar across the board for all home buyers, regardless of credit history, income level, or other considerations. The really good news is that these closing costs are included in the loan amount in over 90% of our transactions. That is, you typically do not have to come up with large sums of money to pay closing costs out of pocket.


The Down Payment

Whether you finance with a conventional or a chattel mortgage, you will need some form of down payment and enough funds to cover closing costs. Down payments can be as low as 3.5% of the total home cost. Example: With a home price of $50,000, your down payment would be $1,750. However, an average down payment is usually about 10% of home price.


Have more questions about our financing process? Contact us today or fill out the information on our Prequalify page to get started.