Mobile Home Loans for Homes
Most Banks Turn Down
Any year built. Any foundation. Leased land, park, co-op, or your own lot. We work with a lender that specializes in manufactured and mobile homes that do not fit standard agency guidelines, so the answer is usually yes where your bank said no.
Financing built for the home itself, not the rulebook.
A chattel loan, also called home-only financing, is a loan secured by the manufactured or mobile home rather than by the land underneath it. It is the financing that makes a home in a park, a co-op, or on leased land possible, and it is also the path for a home on your own lot that will never satisfy an agency appraiser.
Standard FHA, VA, USDA, and conventional mortgages come with a fixed list of property conditions. The home has to carry a HUD certification label, it has to have been built after June 15, 1976, and it has to sit on a permanent, HUD-compliant foundation. A very large share of the manufactured housing stock in southern New Hampshire fails at least one of those tests, which is why so many buyers hear no from their local bank.
None of those conditions apply here. NextGen Mortgage Loans is a New Hampshire licensed mortgage broker, and we work with a lender that specializes in manufactured and mobile homes specifically because they do not meet agency guidelines. Any age, any foundation, park or leased land, and no minimum credit score.
We also write the standard agency loans when the home qualifies for one, and in many cases that is the cheaper route. The difference is that you get both options from one broker instead of being turned away at the first no.
Nine Things This Program Does Not Require
Each one of these is a common reason a manufactured home file gets declined somewhere else.
No Year-Built Cutoff
Homes built before June 15, 1976 are financeable. The 1976 line that blocks every agency program does not apply, so an older home in good condition is a real purchase, not a cash-only listing.
No HUD Certification Label
A missing, painted over, or never issued red HUD tag stops an FHA or conventional file cold. Here it is not part of the decision.
No Permanent Foundation
Block and post, piers, or the original setup are all acceptable. There is no engineer certified, HUD-compliant foundation requirement to satisfy before closing.
No Land Ownership
Buy in a park, a co-op, or on leased land. The loan is secured by the home, so you do not have to own or buy the lot to get financed.
No Minimum Credit Score
There is no score floor on this program. Credit still shapes your rate and your down payment, but a low score is not an automatic decline the way it is at a bank.
No Tight DTI Box
Debt-to-income up to 65 percent, higher than any agency program allows. If your income is real but your ratios are stretched by a car payment or student loans, there is still room to work with.
No Mortgage Insurance
No monthly MI at any loan-to-value. On a low down payment file that is real money kept out of the payment every single month.
No Prepayment Penalty
Pay ahead, refinance later, or sell whenever you want. Nothing in the note punishes you for getting out of the loan early.
No Occupancy Restriction
Primary residence, second home, or investment property. Single-wide, double-wide, triple-wide, and park models are all in scope.
Chattel Financing Next to Agency Financing
Both are good loans. Which one fits comes down to the home, the land, and your credit, and we place files on either side every week.
| Chattel / Home-OnlyOur specialty program | Agency MortgageFHA, VA, USDA, Conventional | |
|---|---|---|
| Year built | Any year, including pre-1976 | Must be built after June 15, 1976 |
| HUD certification label | Not required | Required |
| Foundation | Block and post, piers, or existing setup | Permanent foundation meeting HUD guidelines |
| Land | Park, co-op, leased land, or land you own | Land you own, titled together with the home |
| Minimum credit score | None | FHA from 500, conventional no set minimum |
| Maximum DTI | Up to 65% | FHA up to 56.99%, conventional 50%, VA no set cap |
| Loan term | 8 to 30 years | 8 to 30 years |
| Down payment | 0% to 20% | 0% VA and USDA, 3.5% FHA, from 5% conventional |
| Mortgage insurance | None at any LTV | Required on most low down payment files |
| Occupancy | Primary, second home, or investment | Primary, second home, or investment |
| Prepayment penalty | None | None |
| Best when | The home is older, the foundation is not permanent, or the lot is leased | The home is newer, permanently affixed, and titled with owned land |
Zero down is generally reserved for stronger credit profiles on a primary residence, and compensating factors can open it up below that. Agency DTI limits shown are the outer bounds allowed with automated underwriting approval and strong compensating factors. Guidelines are general program parameters, not an approval.
Six Situations Where This Program Is the Answer
If one of these sounds like your file, you are in the right place.
You are buying in a New Hampshire park or co-op
Land-lease communities and resident-owned co-ops across Hillsborough, Rockingham, and Strafford counties are exactly what home-only financing is built for.
The home was built before 1976
Older homes are usually listed as cash only because agency programs will not touch them. We can finance them, which also means you are competing against fewer cash buyers.
The home sits on block and post
No permanent foundation, no engineer certification, no problem. The setup that fails an FHA inspection is acceptable here.
A bank or credit union already declined you
Most local banks either do not lend on manufactured homes at all or only lend inside agency guidelines. A decline there says very little about this program.
You are buying a rental or a second home
Investment and second home purchases are eligible, which opens up a price point that is hard to find anywhere else in southern New Hampshire.
You already own the home and want a better loan
Refinancing an existing home-only or dealer-arranged loan is straightforward, and the home still does not need a HUD tag or a permanent foundation to qualify.
Southern New Hampshire, Town by Town
The majority of the manufactured and mobile home loans we close are in Hillsborough, Rockingham, and Strafford counties. That is where the parks, the co-ops, and the older housing stock are, and it is where we know the communities, the assessors, and the closing attorneys.
We do lend outside these three counties, including northern and rural New Hampshire, it is simply not where most of our volume sits. If your home is elsewhere in the state, call and ask.
From First Call to Closing Day
Six steps, one loan officer, start to finish.
Consultation
A short call about the home, the lot, and your goals.
Pre-Approval
Letter typically issued within 24 to 48 hours of documentation.
Home Review
Year, size, condition, park or lot, and title status confirmed.
Lender Match
File placed with the program that fits, chattel or agency.
Underwriting
Income and assets verified, valuation ordered if required.
Closing
Sign with the NH attorney or title company. Keys in hand.
The Broker Who Actually Answers the Phone
Manufactured housing is not a side product here. It is one of the things we do best.
A Specialist Lender Behind Us
We work with a lender whose entire focus is manufactured and mobile homes, including the ones that fall outside agency rules. Local banks generally do not have that relationship.
Southern NH Expertise
We know the parks and co-ops in Hillsborough, Rockingham, and Strafford, how the towns assess these homes, and which closings move quickly.
Fast Pre-Approvals
Most pre-approvals go out within 24 to 48 hours of receiving your documents, which matters when a park listing gets four offers in a weekend.
Both Sides of the Aisle
Chattel and agency financing under one roof. We price the file both ways and place it wherever the terms are better for you.
One Loan Officer Throughout
The same licensed loan officer from the first call to the closing table. No call center, no handoffs, no starting over.
Licensed in Five States
New Hampshire, Massachusetts, Maine, Florida, and Rhode Island, NMLS #1621958, with a full broker platform behind every file.
Find Out What Your Home Actually Qualifies For
A short conversation is usually all it takes to know whether your file is chattel, agency, or both. Free consultation, no obligation, and no hard credit pull until you are ready to apply.
Frequently Asked Questions
Yes. Our specialty program has no year-built cutoff, so homes built before June 15, 1976 are financeable even though FHA, VA, USDA, and conventional loans will not consider them. These homes are often listed as cash only, which means less competition for buyers who have financing lined up.
No. A missing or unreadable red HUD tag is one of the most common reasons a manufactured home file gets declined elsewhere, and it is not a requirement on this program. If you are going the agency route instead, the label does matter, and we will tell you which path your home fits.
No. Block and post, piers, or the home's original setup are all acceptable. There is no HUD-compliant, engineer certified foundation requirement to clear before closing, which is the step that stops most FHA and conventional manufactured home files in New Hampshire.
Our chattel program has no minimum credit score, and there is no set conventional minimum either. FHA financing starts at a 500 score. Credit still influences your rate and down payment, but on this program a low score is not an automatic decline. Call and we will tell you honestly where you stand.
Down payments on the chattel program run from 0 to 20 percent depending on credit and the home. Zero down is generally reserved for stronger credit profiles buying a primary residence, and compensating factors can open it up below that. On the agency side, VA and USDA can be zero down, FHA is 3.5 percent, and conventional starts around 5 percent.
Yes. Home-only financing in land-lease parks and resident-owned co-ops is available in New Hampshire, regardless of the age of the home. This is the situation agency loans cannot serve at all, since they require the home to be titled together with land you own.
Terms run from 8 to 30 years, the same range as a conventional mortgage. A longer term keeps the monthly payment down, a shorter term pays the home off faster, and we will run both so you can see the difference before you choose.
Up to 65 percent on the chattel program, which is more room than any agency program allows. FHA tops out at 56.99 percent with an automated approval, conventional caps at 50 percent, and VA has no set ratio cap but underwrites to residual income instead. That extra flexibility on the chattel side is often what makes the difference for buyers with a car payment, child support, or student loans on the books.
No. There is no monthly mortgage insurance at any loan-to-value on this program, including on low down payment files. That is a meaningful monthly difference compared with an FHA loan, where the insurance premium usually stays on the loan for its full life.
Yes, and the same flexibility applies. The home does not need to meet HUD code, carry a certification label, or sit on a permanent foundation to be refinanced on this program. If you are carrying a dealer-arranged or high-rate home-only loan, it is worth having us look at it.
Yes. Primary residences, second homes, and investment properties are all eligible, and single-wide, double-wide, triple-wide, and park models are all in scope. Agency financing covers those occupancy types as well, so the real question is whether the home itself meets agency property standards. If it does not, the chattel program is what keeps a rental or second home purchase possible.
A mortgage is secured by real estate, meaning the home and the land together. A chattel loan is secured by the home itself as personal property, which is what makes it possible to finance a home on leased land or in a park. Chattel rates typically run higher than agency mortgage rates, and in exchange the property rules are dramatically more flexible. When your home qualifies for both, we will show you the numbers side by side.
Related Pages & Tools
Manufactured Home Loans in NH
The overview page covering both financing paths and how to tell which one your home fits.
Read more →FHA Home Loans
For newer homes on a permanent foundation and land you own, where agency financing usually costs less.
Read more →Mobile Home Loan Calculator
Run a payment on your loan amount, rate, and term before you call.
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