Chattel Loan
A Loan for the Home, not the Landcommercial loans.
What is a Chattel Loan?
A Chattel Loan finances the manufactured home itself, which is considered personal property. This is different from a traditional mortgage, where the loan covers both the house and the land it sits on.
This financing is ideal for homebuyers purchasing a manufactured home that will be placed in a community or park where the land is leased or rented.
Why Offer Chattel Loans?
No PMI Required
Even with a low down payment, your borrower avoids monthly mortgage insurance.
Low Down Payment Options
Programs are available with as little as 5% down.
Great for In-Park Homes
This is the perfect product for clients buying a manufactured home in a leased-space community.
Stability for Borrowers
All loans are fixed-rate and fixed-term, with no pre-payment penalties.
Disclaimer: This guide was created on August 25, 2025, and synthesizes information from the provided training documents and qualification matrix. Guidelines are subject to change. Always verify current program details directly with Triad
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Loan Factory, Inc. -
2195 Tully Road, San
Jose, CA 95132
Licensed in CT
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