A Brief Look At Some Leading Manufactured Home Financing Lenders In The US, UK And Canada

Figures from the U.S. Census Bureau show that the average price of a brand new manufactured home is $85,600. The same report also indicates that a single-wide comes with an average price of $52,900 while a double-wide averages $109,800.

A used manufactured home can range from virtually nothing, where the owner wants to simply walk away from all the costs that come with including monthly lot rent.

Because mobile homes are movable rather than fixed like site-built homes, you are expected to pay rent to the owner of the manufactured home community (if you don’t own the land, that is) plus the debt owed on your home.

So, because most owners don’t own the land their homes are standing on, mobile homes are considered to be personal property instead of real property. Therefore, about 85 percent of the time, manufactured homes are only financed with a personal or chattel loan.

The 5 MOST RECOMMENDABLE Home Financiers in The U.S.

  • Manufactured Nationwide – The Best Overall
  • 21st Mortgage Corporation – Best option for Bad Credit
  • ManufacturedHome.Loan – Great for Good Credit
  • eLEND – Best for a Buyer on Low Down Payment
  • Vanderbilt Mortgage and Finance – Best for Any Manufacturer’s Financing

1. Manufactured Nationwide – The Best Overall

Contact Details:

URL: https://www.manufacturednationwide.com/

Tel: (833) 237-0043

Mailing Address:

Equal Housing Lender NMLS# 147381

11030 Oakmont Street, Suite

100 Overland Park, KS 66210

Manufactured Nationwide is the best overall manufactured home lender on our because:

  • It lends in 50 states (basically, all over the United States).
  • works flawlessly with government-supported loan programs that entail mobile homes and more difficult renovation and construction programs.
  • It also provides a range of loan programs with highly competitive fixed rates as well as low- and no-cash-down programs.


  • Buyers struggling with less-than-perfect or subpar credit are eligible
  • Buyers with a high debt-to-income ratio are eligible
  • Open 7 days a week
  • 15-year and 30-year loan terms
  • You can take a one-time construction loan for mobile homes and land


  • Low credit scores sometimes will translate into high rates
  • Government-backed programs tend to come with distinct purchasing limits which may vary based on your location
  • Your mobile home must have a fixed foundation on your own land
  • Does not support properties in a manufactured home park or those sitting on a leased land

Manufactured Nationwide offers loans for single-, double-, and even triple-wide mobile and modular homes.

The lender also doesn’t discriminate between used and new homes.

Its government-backed lending programs like FHA, USDA, FNMA, and VA provide competitive and fixed-rate mortgages in this segment.

Better yet, this lender has programs that will lend you as little as $50,000 for your renovations projects and a maximum of$2 million for purchases.

VA loans are only accessible with a credit score of at least 620. FHA program is accessible with a much smaller credit score.

This lender’s down payment requirements are friendlier – they range from almost zero for USDA and VA and USDA to little money for their FHA program.

Most loan programs at Manufactured Nationwide allows up to 43 percent debt-to-income ratio and a normal interest rate of 4.0 percent. The duration of the loan is either 15 or 30 yrs.

Depending on the number and gravity of issues that come up during the duration, a loan can remain in the underwriting position anywhere from 2 to 6 weeks, and the whole loan process takes between 30 and 60 days from the time of application to closure.

2. ManufacturedHome.Loan – Great for Good Credit

Contact Details:

URL: https://www.manufacturedhome.loan/

Tel: (800) 332-4313

Mailing Address:

16 Technology Dr. Suite 206

Irvine CA 92618

MLS LIC. #1888652

MHL (ManufacturedHome.Loan) is the best lender for those borrowers who want a manufactured home so bad and have good credit. MHL’s insistence on good credit is probably why their mortgage rates are so competitive. They also have a strong and reliable online platform for any highly qualified borrower.


  • Offers strong mortgage deals for applicants that meet income/credit standards
  • Has robust programs for first-time homebuyers
  • Can finance homes located in mobile home parks
  • Can finance mobile being used as vacation homes


  • Rates are not published
  • Customer service seems to ring to just one person
  • The most efficient route to getting pre-qualified is via an online form

MHL began in Irvine, California, and is licensed to operate countrywide as a mortgage broker. So, as a broker in close association with hundreds of private equity lenders and financial institutions, the company can easily shop around for the best terms and lowest rates for you.

For that reason, MHL is the best firm for any borrower with a good credit score because it will save them a lot of time and do all the shopping on their behalf for the best deals and most competitive rates in the county.

It’s mentioning that MHL can happily finance both used and new mobile homes for refinancing and purchase.

While most manufactured home lenders will just lend to a borrower for the borrower’s primary residence only, and even then, just the same thing if you also hold the title to the land, even with good credit over 700, MHL can look at it on a case-to-case basis and expand your options.

The borrower could buy a manufactured home located in a park or finance a vacation mobile home.

While MHL is just the right option the borrower with a good credit score over 700 could choose because of the flexibility and variety of options, it also supports government-backed programs which permit credit scores somewhere in the region of 600, such as FHA and VA.

The lowest loan value is normally $75,000 while the highest you could get is $2 million for their jumbo loan plan. The down payment can vary depending on the loan facility as well as your credit score and income. If you qualify for this broker’s FHA or VA loan, your down payment might end up to be 3 to 0 percent, respectively.

Pre-qualification for the loan can take about 24 hours. Once you’ve selected a home, the process of underwriting can take about 2 weeks for a typical loan to 6 weeks for a government-backed program.


3. 21st Mortgage Corporation: Best for Bad Credit

Contact Details:

URL: https://www.21stmortgage.com/

Tel: +1 865-292-2120

Mailing Address: 620 Market St, Knoxville, TN 37902, United States

The best thing about 21st Mortgage Corporation is that it can qualify virtually all credit scores required in most states across the country. That’s why we listed this company as the best-manufactured home lender for any homebuyer with not-so-good credit scores.


  • Available in most parts of the United States
  • One of a fistful of lenders in the U.S. to finance used manufactured homes, even though used mobile homes depreciate faster than site-built homes
  • No prepayment penalties
  • “Innovative loan programs” (as they claim) allow homebuyers to make their down payments using land equity, cash, or trade
  • You don’t need to meet any minimum credit scores
  • Closing fees and costs can be financed—also, “zero money down” loans are available for any primary residence


  • If you live in AK, MA, HI, and RI, you won’t access this lender’s services because they don’t have a presence in those states
  • Properties that share a well won’t qualify for financing; the well must be situated on the property pledged as collateral
  • If you are purchasing the home for a third-party owner, the property purchase needs to start with at least a 20 percent down payment.
  • No pre-approval process for loans
  • Property not to close to a paved road will require a bigger down payment or a low loan-to-value ratio

Founded in Knoxville, Tennessee, 21st Mortgage Corporation has been in the business since 1995 and now boasts over 800 employees.

It was acquired in 2003 and became Clayton Homes’ subsidiary.

It lends to homeowners in 46 states and Washington, D.C.

It is the perfect option for any borrower who wants a manufactured home so bad but they are saddled down by bad credit – the company has no minimum credit score and can finance mobile homes located in a park.

21st Mortgage Corporation gives innovative fixed-rate loans for manufactured homes. Also, it can finance mobile homes on leased land in a community or mobile home park, both on non-permanent and permanent home foundations.

The borrower is allowed to choose from a variety of financing options for both pre-owned and new manufactured homes with $21,980 (minimum loan amount) for individual-to-individual lending and $13,737 on a property purchased via a retailer.

This company requires your debt-to-earnings ratio to be below 43 percent to qualify for any loan facility without having additional documentation or co-signer.

21st Mortgage Corporations interest rates are quite high—between 6 percent and 12 percent, almost twice the national average— that’s because its average client has lower credit scores and income levels.

Interestingly, this lender has no minimum credit score. Down payment requirements will range from 0 to 35 percent on all involved property purchases. This means that if your credit score is below 570, that will need a 35 percent down payment, but can be a combo of trade-in, land equity, or cash.

Mortgage loan facilities can be easily accessed, applied for, and finalized online and the entire process can take about 4 to 6 weeks for a home-only loan and 6 to 8 weeks for a loan that involves land.

4. eLEND: Best for Low Down Payment

Contact Details:

URL: https://bit.ly/3lok6l2

Tel: (866) 470-6995 / (800) 634-8616

Mailing Address:

AFR / Loan Care

P.O. Box 60509

City of Industry, CA 91716-0509

There are two major reasons why you should borrow from eLEND: they have 100 percent financing through their VA and USDA loan programs and, secondly, they offer a DPA (Down Payment Assistance) program equal to 2 percent or 3.5 percent of the buying price to a diverse range of borrowers.


  • Low mortgage rates
  • Low down payment requirements, up to 100 percent financing available
  • Their online portal is highly convenient
  • Mortgage insurance is included


  • Geographic restrictions may be placed on some programs.
  • Not-so-encouraging customer service reviews

This lender makes it to our list as the best manufactured home financier for low and affordable down payments largely because of its heavy emphasis on government-backed loans that often come with 0 to 3.5 percent down payments. Also, its DPA program further supplements the burden of down payments for its borrowers.

It’s worth mentioning that eLEND operates under American Financial Resources, a company with vast experience in the mortgage industry. It was set up to offer affordable home financing solutions to first-time homebuyers and existing homeowners looking for friendlier mortgage plans.

The lender offers VA, FHA, USDA, adjustable-rate loans, and conventional fixed loans. If the borrower is found to qualify for any of the available government-backed programs, the borrower’s down payment will range from 0 to 3.5 percent.

If the borrower qualifies for the DPA program, they can lower the borrower’s down payment expense further down. The DPA permits you to use the gifted funds for your down payment.

Better yet, community service professionals, such as military officers, police officers, firefighter, teachers, or EMT, or you are a member of the staff in a medical firm or the U.S. military, and you’re buying a home for the first time, you can be eligible for the DPA.

5. Vanderbilt Mortgage & Finance, Inc.

Contact Details:

URL: https://www.vmf.com/

Tel: 1-866-701-0467

Mailing Address:

Attn: Customer Service

Vanderbilt Mortgage and Finance, Inc.

PO Box 9800

Maryville, TN 37802

This lender is in association with Clayton Homes, Inc. one of the leading manufactured home builders in the United States, giving them a huge market share to offer great rates in mobile home financing.


  • 40 years of worth of experience in mobile home financing
  • Bi-weekly and conventional options
  • Simple and convenient online application process


  • Limited information available on their website
  • Difficult to contact

Vanderbilt Mortgage & Finance, Inc., is part of Berkshire Hathaway Company, one of the leading insurers in the United States. It is also a partner of Clayton Home’s financing companies.

This lender’s integration and partnership with Clayton Homes makes it our top recommendation to borrowers looking for a financier with a close relationship with some of the industry’s renowned brands – Berkshire Hathaway and Clayton Homes.

Vanderbilt places focus on the mobile housing sector, giving loans for both used and new modular homes. The lender has serviced an excess of 200,000 loans in the last 40 years it has been in the industry.

The company offers both adjustable and fixed-rate mortgages in diverse amounts.

Five Alternative Mobile Home Financiers in The U.S.

1. American Mobile Home Finance

Location: Norristown, Pennsylvania, United States

Mailing Address:

1020 Windy Hill Road
Norristown, PA 19403

URL: https://amhfloans.com/

Tel: (610) 631-1600

Fax: (610) 631-1300

Email: N/A

2. NLC Loans

Location: Columbus, Ohio

Mailing Address:

NLC Loans instead of True Name Nations Lending Corporation

4 Summit Park Drive, Suite 200

Independence, OH 44131

URL: https://bit.ly/36kxYbQ

Tel: 977-480-8050 / +1 855-485-7928

Fax: N/A

Email: info@nlcloans.com

3. First National Bank

Location: Pittsburgh, Pennsylvania

Mailing Address:

One North Shore Center – Pittsburgh, PA 15212

URL: https://www.fnb-online.com/

Tel: 1-833-BANK-FNB (1-833-226-5362)/1-800-555-5455

Fax: N/A

Email: N/A

4. CREFCOA – Mobile Home Park Loans

Location: Jacksonville, Florida

Mailing Address:

CREFCOA 841 Prudential Drive

12th Floor #1294

Jacksonville, FL 32207

URL: https://bit.ly/36mjI2e

Tel: 1-844-359-6413 / 1-561-335-1451

Fax: N/A

Email: N/A

5. Riverbank Finance

Location: Grand Rapids, Michigan

Mailing Address:

Grand Rapids, MI 49525

URL: https://bit.ly/33uvqGa

Tel: 800-555-2098

Fax: 888-399-6488

Email: info@riverbankfinance.com

Top 5 Mobile Home Financiers in Canada

1. CUA Bank

Location: Halifax, Nova Scotia, Canada

Mailing Address:

7105 Chebucto Road, Suite 350
Halifax, NS
B3L 4W8

URL: https://bit.ly/3mmox1n

Tel: 902-492-6500 / 1-800-474-4282

Fax: N/A

Email: info@cua.com


Location: Cochrane, Alberta, Canada

Mailing Address:

73 Riverview Circle

Cochrane AB T4C1K3

URL: https://bit.ly/37i8U4M

Tel: 1-888-540-1715 / 587-774-6290

Fax: 587-315-6117

Email: N/A


Location: Kircherner / Waterloo, Canada

Mailing Address: N/A

URL: https://bit.ly/3fSFFck

Tel: 1-877-248-9210

Fax: N/A

Email: N/A

4. BHM Financial Group

Location: Montreal, Canada

Mailing Address:

1090 Avenue Pratt
Montreal, QC H2V 2V2, Canada

URL: https://bit.ly/3lrhEue

Tel: 1-877-787-1682

Fax: 1-866-591-8252 / 1(800)472-6842

Email: N/A

5. ScotiaBank

Location: Toronto, Ontario, Canada

Mailing Address:

44 King St West
Toronto ON
M5H 1H1

URL: https://bit.ly/3miDxgy

Tel: 1-888-444-9240

Fax: N/A

Email: N/A

Top 5 Mobile Home Financiers in the UK

1. Coventry Building Society

Location: Headington, Oxford, United Kingdom

Mailing Address:

Economic House, PO Box 9

High Street, Coventry CV1 5QN

URL: https://bit.ly/2JprXls

Tel: 0800 121 8899 / 01865 765747.

Fax: N/A

Email: N/A

2. Nationwide Building Society

Location: Swindon, United Kingdom

Mailing Address:

Nationwide Building Society
Nationwide House
Pipers Way
Swindon SN38 1NW
GPS/Geographical Post Code Only: SN3 1TA

URL: https://bit.ly/3fOq25Z

Tel: 0800-0510-154 / 03457 30 20 11

Fax: N/A

Email: N/A


Location: Gresham Street, London, United Kingdom

Mailing Address:

Lloyds Bank Plc. Registered office

25 Gresham Street, London EC2V 7HN

URL: https://bit.ly/2VlkV3z

Tel: 0345 602 1997 / +44 1733 347 007

Fax: N/A

Email: N/A

4. Santander UK

Location: London, United Kingdom

Mailing Address:

Santander UK plc.

Registered Office: 2 Triton Square

Regent’s Place, London, NW1 3AN, United Kingdom.

URL: https://bit.ly/36nSvwe

Tel: 0800-9123-123 / 0800-085-1580

Fax: N/A

Email: N/A


Location: Leeds, United Kingdom

Mailing Address:

Halifax, PO Box 548, Leeds, LS1 1WU

URL: https://bit.ly/3fQv01Q

Tel: 0345 850 3705

Fax: N/A

Email: N/A