What will it actually cost per month?
Use the calculator to see the real monthly cost of any plan. Then we walk through the one decision that affects your rate the most, and the loan programs that fit Central Valley buyers.
The decision that drives your rate
How your home is titled, as personal property or as real estate, affects your interest rate more than almost anything else.
Chattel: home as personal property
A chattel loan treats the home like a vehicle. It is faster to close and works when you do not own the land or are in a leased community, but it typically carries higher rates and shorter terms than a mortgage.
Real property: home joined to land
On a permanent foundation with a recorded HCD Form 433A, the home and land are taxed and titled together, the same as a site-built house. This unlocks the better mortgage programs, longer terms, and appreciation potential.
The 433A is the bridge from one to the other
When your home is installed on an approved permanent foundation and the 433A is recorded with the county recorder, the home legally becomes real property. For most buyers placing a home on land they own, completing that path is the single most valuable financial step in the process, and we walk you through it.
Loan programs that fit Central Valley buyers
Several programs finance manufactured and modular homes. Each works best for a different situation. Modular homes, which are real property by default, are financed like any site-built house.
A personal-property loan for the home itself, not the land. The path when you do not own land or are in a leased community.
- ✓Faster approval, often 1 to 3 weeks
- ✓Available with lower credit scores
- ✓Works without land ownership
- –Higher interest rates
- –Shorter terms, often 15 to 25 years
- –Home only, not land
Government-backed loans. Title II is a real-property mortgage on owned land; Title I can finance a home, lot, or both, even on leased land.
- ✓Lower rates than chattel
- ✓Flexible on credit history
- ✓Title II reaches standard 30-year terms
- –Requires mortgage insurance
- –Title I has lower loan limits
- –HUD-approved lender
For eligible veterans and active service members. Can finance a qualifying manufactured home, often with no down payment.
- ✓Often zero down
- ✓Competitive rates
- ✓No monthly mortgage insurance
- –Eligibility required
- –Funding fee may apply
- –Home must meet VA standards
The Section 502 program for rural areas. Much of the Central Valley qualifies, and it can reach zero down for income-eligible buyers.
- ✓Often zero down
- ✓Widely eligible across the Valley
- ✓Designed for rural and small-town buyers
- –Household income limits
- –Usually a new, permanently installed home
- –Must be titled as real property
Fannie Mae and Freddie Mac programs for manufactured homes built to higher design standards, with terms aligned to site-built housing.
- ✓Down payments as low as 3%
- ✓Site-built-style appraisal and terms
- ✓Strong long-term rates
- –Home must meet program features
- –Usually multi-section, 1,000+ sq ft
- –Stricter appraisal requirements
Down-payment figures are general guidelines, not guarantees. Programs and terms change; your lender confirms what applies to you.
Which loan path fits your situation?
The right loan depends less on the home itself and more on where it will sit, whether you own the land, and how the home will be titled. Use this as a starting point, then confirm with a lender who knows manufactured and modular homes in California.
| Your situation | Likely path | Why it matters |
|---|---|---|
| You own land and want the best long-term terms | Real-property mortgage | A permanent foundation and recorded HCD 433A let the home and land finance together, the same as a site-built house. |
| You are buying land and the home together | Land-home loan (FHA, USDA, VA, or conventional) | The lender reviews the full project: land, home, foundation, utilities, and installation. |
| You are placing the home in a leased community | Chattel loan | The home is financed as personal property because the land is not part of the loan. |
| You are an eligible veteran or service member | VA loan | VA can finance manufactured homes and lots when requirements are met, including real-property and foundation rules. |
| Your parcel is in a USDA-eligible rural area | USDA Section 502 | USDA can allow no money down for qualified buyers, but the home usually must be new, permanently installed, and a primary residence. |
| You want a higher-design manufactured home | MH Advantage or CHOICEHome | These conventional programs support site-built-style manufactured homes with mortgage-like features. |
We match you to the right lender
Not every loan officer understands manufactured homes or the California 433A process, and the wrong loan structure can cost you for the life of the loan. Tell us your situation and your land plan, and we connect you with a lender who knows these programs and works with buyers across the credit spectrum. No obligation.
Financing questions
What is the difference between a chattel loan and a real-property mortgage?
A chattel loan finances the home as personal property, often with a shorter term and a higher rate, and does not require converting the home to real estate. A real-property mortgage treats the home and land together, the same as a site-built house, and usually needs a permanent foundation and a recorded HCD Form 433A. Most buyers who own their land choose the mortgage route for the better rate.
What is the HCD Form 433A and why does it matter for my loan?
In California, recording Form 433A is what converts a manufactured home on a permanent foundation from personal property into real property. That conversion is what unlocks FHA Title II, VA, USDA, and conventional mortgages, along with their longer terms and lower rates. For most buyers placing a home on land they own, completing the 433A path is the single most valuable financial step.
Can I use a USDA loan in the Central Valley?
Often yes. Much of the Central Valley outside the larger city cores is USDA-eligible, and the Section 502 program can allow very low or zero down payment for income-eligible buyers. The home typically must be new, on a permanent foundation, and titled as real property. A USDA-approved lender can check the exact eligibility map for your parcel.
Is there a minimum credit score to buy a manufactured home?
There is no single minimum. Different loan programs are built for different credit profiles, and a lower score does not put homeownership out of reach; it mostly affects which program and rate fit best. The most useful first step is a quick, no-pressure pre-qualification so you know your real options. Tell us your situation and we will connect you with a lender who works with buyers across the credit spectrum.
Do I need a down payment?
It varies by program. VA and USDA can reach zero down for those who qualify, conventional MH Advantage and CHOICEHome can go as low as 3%, and FHA Title II starts at 3.5%. Chattel loans typically ask for more down. A larger down payment generally improves your rate.
Will my home appreciate?
A manufactured or modular home permanently affixed to land you own, with a recorded 433A and real-property title, participates in the local market much like a site-built home and can hold or gain value. Homes titled as personal property on leased land tend to behave more like a vehicle. The foundation and the land matter more than the factory that built the home.
Check it against the source
We summarize these programs in plain language. For the official rules, current limits, and fine print, go straight to the agency that sets them. Program terms change, so the source is always the final word.
- FHA manufactured home loans ↗U.S. Dept. of Housing & Urban Development
- VA-backed home loans ↗U.S. Dept. of Veterans Affairs
- Section 502 Guaranteed Loan Program ↗USDA Rural Development
- MH Advantage ↗Fannie Mae
- CHOICEHome mortgages ↗Freddie Mac
- Manufactured housing finance & chattel loans ↗Consumer Financial Protection Bureau
- HCD Form 433A (real-property conversion) ↗California Dept. of Housing & Community Development