What is the interest rate to purchase a mobile home?

Hi Annie, that is a great question for a lender. The good news it is free to find out, Google loan officer or call your local bank/credit union. It usually only takes 20-30 minutes to apply for financing and even if you can't get approved for what you need now, a good lender can educate on what you can work on (like your credit score for example) so that home ownership can be a part of your future. Good luck, Spirit

Interest rates and loan options for mobile homes depend heavily on whether the home qualifies as real property (on land, permanent foundation). Rates are typically around 6.75%–9%+, but can jump to 8–12%+ if it’s a chattel loan (home not attached to land). Down payment depends on the loan: FHA can be 3.5% down, conventional around 3–5%, and VA can be 0% down if eligible. You can use a VA loan, but the home must be on a permanent foundation, built after 1976, and classified as real estate. Not all lenders offer VA manufactured home loans. For FHA, the home must be built after 1976, on a permanent foundation, classified as real property, you must own the land, it must be your primary residence, and it has to meet HUD/FHA appraisal and foundation requirements. Minimum credit is 580 for 3.5% down. Loan terms can go up to 30 years if the home and land qualify. If the property doesn’t meet these standards, expect higher rates, shorter terms, and fewer loan options.