Loan Comparison
Financing a manufactured or mobile home comes down to one question: is the home titled as personal property or permanently affixed to land you own? Chattel loans finance the home itself — including homes in parks or on leased land. Conventional financing treats the home as real estate, which requires a permanent foundation and land ownership. Getting this classification right up front determines your rate, term, and whether you qualify at all.
| Chattel Loan | Conventional Loan | |
|---|---|---|
| What is financed | The home only — land can be leased or in a park | Home and land together as one real-property asset |
| Foundation requirement | No permanent foundation required | Permanent foundation, home de-titled to real property |
| Typical term | 15–25 years | Up to 30 years |
| Rates | Higher — personal property lending | Lower — standard mortgage pricing |
| Down payment | Typically 5–20% | As low as 3–5% |
| Closing timeline | Often faster, lighter process | Standard 21–30 day mortgage timeline |
| Best for | Homes in parks, on leased land, or not permanently affixed | Manufactured homes on owned land with a permanent foundation |
If you own the land and the home sits on a permanent foundation, converting to real property and using conventional or FHA financing gives you the lowest long-term cost. If the home is in a park, on leased land, or not permanently affixed, a chattel loan is the correct — and often only — tool. CDL Mortgage reviews your title and foundation status before quoting, so you know which path you are actually on.
Still Deciding?
We'll price both programs with your actual numbers and show you the payment, cash to close, and long-term cost side by side — no credit pull required.
Questions
A chattel loan finances personal property — the manufactured home itself — while a mortgage finances real estate, meaning the home plus the land it is permanently attached to. Chattel loans carry shorter terms and higher rates because the collateral can be moved.
Yes, in many cases. If you own the land and the home is placed on a permanent foundation and de-titled to real property, you can refinance out of chattel financing into a conventional or FHA mortgage at a lower rate and longer term.
No. That is the main advantage. Chattel financing works for homes in manufactured-home communities or on leased land, where traditional mortgage financing is not available.
About Us
CDL Mortgage Services Inc. is an independent, full-service mortgage company. Instead of pushing one bank’s products, we shop multiple wholesale lenders to secure the best loan at the best rate for every borrower.
Purchase, refinance, and home equity — all under one roof, focused on the best loans at the best rates.
Based at 6524 Lonetree Blvd, Rocklin, CA 95765 and licensed in California, Texas, Georgia, Tennessee, Oklahoma & Idaho.
Every file is handled start-to-finish by a licensed loan officer who knows your name and your goals.
Fully licensed and regulated, with award-winning lender partnerships and 35+ years serving borrowers.
Ready When You Are
One application, multiple wholesale lenders, and a licensed loan officer who explains the tradeoffs before you commit.