We know Mobile Home Mortgages!

 

Financing a Mobile Home Mortgage is a specific process, and it is not advised to work with a lender that does not kinow how to navigate around a mobile home mortgage. There are two very distinct types of manufactured home loans: a chattel mortgage and home and land.

Chattel Mortgage
Financing for ONLY the mobile or manufactured home, and not the land beneath it, is called a chattel mortgage. We have handled financing for hundreds of chattel mortgages andcan even refinance a home-only loan.

Usually, the owner of the land in a chattel mortgage situation is the mobiel home park. The home owner will then pay space rent to the mobiel home community, and a mortgage on the home. A chattel mortgage is the most affordable way to own your own home.

Home and Land
If you own your land and the home that rests upon it, then your mortgage covers the home and land. This is also a very affordable way to own your home, but is more expensive than a chattel mortgage. However, the real estate under your home is your personal asset.

SDMTG offers manufactured home loans and financing, as well as mobile home mortgage refinancing for homes in parks and communities. We only finance mobile homes and manufactured homes, they are our 100% focus. If your goal is to refinance your manufactured home to lower your interest rate, or shorten your term, then we can help. Apply today for the lowest rates in the nation. We can finance and refinance your manufactured home loan with the best rates and terms around.

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