Manufactured Home vs. Real Estate Home Loans

June 29, 2022

Manufactured home loans are easier, simpler, and faster than loans on site-built homes. Here's why.

Hames manufactured homes are sited in Grand View and Summit View land-lease communities (formerly called “mobile home parks”). Residents own their homes and lease the land.  With traditional real estate, homeowners own both the home and the land.  So lending for each type of dwelling is a different.


Real Estate Home Loans

Manufactured Home Loans

Time to Close on a Sale

Several weeks to months.

Can be done in as little as 8 days.

Loan Processing

Title opinion, lien searches, groundwater hazard statements, warranty deeds, radon testing, etc. can take months.

Manufactured homes are considered personal property, so no lengthy escrow or title search.

Term of Loans

15 to 30 years.

5 to 20 years, so equity builds up quicker.

Lender Licensing Requirements

Lenders are licensed and supervised according state and federal banking laws.


Compliance with Equal Housing Opportunity Laws?



Servicing Loans

Usually sold to an investor.  You have no control over who you ultimately send your payments to.

Usually retained in-house.  The banker you make your loan with is also the person you speak with long-term


Since loans are usually sold to an investor, loan products must conform to investor’s requirements.

Smaller banks that retain their loans have more options in lending terms.

Insurance and Taxes

Usually “escrowed.” Borrower makes monthly payments to loan servicer, who pays annual taxes and insurance on borrower’s behalf.



Hames Homes is the expert in mobile homes and manufactured homes for sale.  Our affiliate, Circle Finance LLC NMLS #366020 specializes in manufactured home loans in land-lease communities.  Call Curtis or Clint today at (319) 377-4863 or contact us online to view your next home and learn about financing options!

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