Chattel Loans for Manufactured and Mobile Homes
A chattel loan finances the home itself, not the land under it, so you can buy or refinance a manufactured home in a park, on a leased lot, or on family land you do not own. Home Loans Inc brokers chattel loans through Triad Financial Services, a manufactured home specialist since 1959, and we will also tell you when a regular mortgage would cost you less.
What a chattel loan is, in plain English
A chattel loan is a loan on movable personal property. For a manufactured home, it means the home is the collateral and the land is left out. That is why chattel financing exists: millions of manufactured homes sit in parks, in land-lease communities, on rented lots, or on a relative's land, and a traditional mortgage has no land to attach to.
The trade-off is cost. Because the lender is secured by the home only, chattel loans typically carry higher rates and shorter terms than a mortgage on a home and land together. In exchange you get a loan that works where a mortgage cannot, a simpler closing, and no requirement to own the dirt.
Here is the part most dealers will not tell you: if you own the land, or can buy it, and the home is on a permanent foundation, you may qualify for an FHA, VA, USDA or conventional mortgage that costs less over time. As a broker, Home Loans Inc prices both paths on one conversation, so you pick the loan that fits the home instead of the one somebody happens to sell.
Chattel loan vs. a traditional mortgage
Same house, two very different loans. This is how they compare on the things that change your payment and whether you can close at all.
| Feature | Chattel loan | Traditional mortgage |
|---|---|---|
| What is financed | The manufactured home only | The home and the land together |
| Do you need to own the land? | No. Parks, leased lots, rented land and family land all work | Yes, the land is part of the collateral |
| Permanent foundation | Not required with Triad | Required, and the home is titled as real property |
| Rates and terms | Typically higher rates and shorter terms | Typically lower rates, terms up to 30 years |
| Mortgage insurance | Not required on a Triad refinance | Often required with less than 20% down (PMI or FHA MIP) |
| Closing | Home-only loans can close by mail with a notary; Triad cites about 2 to 3 weeks | Title company or attorney closing |
General program comparison. No rates or APRs are quoted here; your numbers depend on the lender, the home, its placement, and your file.
When a chattel loan is the right tool
Your home is in a park or community
Land-lease communities and mobile home parks are the classic chattel case. You own the home, you rent the lot, and the loan follows the home.
The home sits on someone else's land
Family land, a rented lot, or leased property. No deed in your name is needed for a home-only loan.
There is no permanent foundation
Triad finances single-wide and double-wide homes with or without a permanent foundation, so you do not have to convert the home to real property first.
You are stuck in a high-rate dealer loan
If your credit or the market has improved since you bought, a rate-and-term chattel refinance can replace the original loan on a primary residence.
You want a smaller, simpler closing
Home-only loans can close through the mail with a notary, with no title company required, which keeps the process lighter than a full mortgage.
You own the land and the foundation
This is the one case where chattel may NOT be your best loan. We price an FHA, VA, USDA or conventional mortgage next to it so you can see the difference.
Triad Financial Services: the guidelines that matter
We broker chattel loans through Triad Financial Services (NMLS #1063), a Jacksonville, Florida lender that has financed manufactured homes since 1959. These are the published guidelines that decide most files before anyone looks at a rate.
Home built 1976 or newer
The home must be built to the federal HUD Code, which began in June 1976. Older mobile homes need a different lender.
Single-wide or double-wide
Both are eligible, with or without a permanent foundation, on owned, rented, leased, park or family land.
Up to 95% loan-to-value
On a primary residence purchase, with your credit score setting the final number. Closing costs can be financed or covered by seller concessions.
Refinance: 95% or 90% LTV
Rate-and-term refinances on primary residence chattel loans go up to 95% loan-to-value with an Equifax score of 600+, and up to 90% below 600.
No mortgage insurance
Triad does not require mortgage insurance on its chattel refinances, regardless of your equity.
Homeowners insurance at closing
You need proof of one year of full-coverage homeowners insurance at closing. With a Triad policy, the first year can be financed.
Summarized from Triad Financial Services' published consumer guidelines as of October 2026. Lender guidelines change and every loan is subject to credit approval and eligibility. Not a commitment to lend.
Chattel refinance: replace the dealer loan
A lot of manufactured homes were financed at the dealer, on the day of the sale, at whatever rate was offered. If your credit has improved or rates have moved since then, a rate-and-term refinance can replace that loan with a new one on better terms, or shorten the term so the home is paid off sooner.
Triad refinances primary residence chattel loans up to 95% loan-to-value with an Equifax score of 600 or higher (90% below 600), with no mortgage insurance. We run the break-even math with you first, because a refinance only makes sense if what you save beats what it costs to close.
By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan. Loans are subject to credit approval and lender guidelines.
Chattel loan myths we correct every week
You cannot finance a mobile home in a park.
You can. That is exactly what a chattel loan is for. The loan is on the home, so it does not matter that you rent the lot.
Chattel loans always need 20% down.
Triad goes up to 95% loan-to-value on a primary residence purchase, with your credit setting the final number.
Any manufactured home can be financed.
Triad requires a home built in 1976 or later to the HUD Code. Pre-1976 mobile homes need a different lender, and we will tell you so before you spend a dollar.
If it is a manufactured home, chattel is the only option.
If you own the land and the home is on a permanent foundation, FHA, VA, USDA and conventional mortgages may be on the table, often at a lower cost. We check that first.
Triad or 21st Mortgage?
The two names you will hear most in chattel lending are Triad Financial Services and 21st Mortgage Corporation. They overlap a lot, but they split on home age, credit score, and how fast they close. We laid them out line by line so you can see which one fits your home.
Tell us where the home sits. We will tell you the best loan for it.
Home Loans Inc: Jason Sharon, Mortgage Broker
2557 Ashley Phosphate Rd, North Charleston, SC 29418
(843) 569-7283 / 843.LOW.RATE · Text us · jason@homeloansinc.com
How a chattel loan works with us
1. Tell us about the home
Year built, single or double-wide, and where it sits: park, leased lot, family land, or land you own. That decides which loans are even possible.
Five-minute call2. Price chattel vs. mortgage
If the land and foundation qualify, we put an FHA, VA, USDA or conventional option next to the Triad chattel loan so you see both before you choose.
Both options, one file3. Appraisal and insurance
Triad orders the appraisal. You line up one year of full-coverage homeowners insurance, which Triad can finance in the first year on its own policy.
No surprises at closing4. Close
Home-only loans can close by mail with a notary. Land and home loans close with a title company or attorney.
Start your application →Veteran-owned, and straight about when chattel is not your best loan
Jason Sharon founded Home Loans Inc in 2018 after serving as a nuclear engineer in the U.S. Navy. He holds NMLS #1281448 (company NMLS #1728740). We are a broker, not a lender: Triad makes the chattel loan decision, and our job is to put your file in front of the right lender and tell you plainly when a different loan would save you money.
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