Moble Home (Chattel) Financing!

Lots of financing options for Manufactured Homes in Idaho.

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Mobile Home Loans

Mobile Home Mortgage Loan (Not Real Property) C1 & S1 Program

  • Minimum FICO Score: 600
  • Minimum Down Payment:  5%
  • Down Payment from a Gift:  Yes! (Gift Information)
  • Owner Occupied Only. (Call for 2nd/Vacation Homes)
  • Singlewide, Doublewide & Triple Wide.
  • CAN BE moved multiple times i.e. twice moved
  • Constructed after June 15, 1976
  • Seller can pay towards Closing Costs
  • Classified Mobile Home or Chattel in Idaho
  • Minimum Loan Amount $50,000
  • Maximum Term 300 Months (25 years) Fixed Rate.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.
  • >48 Months Discharged for Bankruptcy

 

Mobile Home Mortgage Loan (Not Real Property) B1 Program

  • Minimum FICO Score: 550
  • Minimum Down Payment: 10%
  • Owner Occupied Only.
  • Singlewide, Doublewide and Triplewide units eligible.
  • CAN BE moved multiple times, i.e. twice moved
  • Constructed after June 15, 1976
  • Seller can pay towards Closing Costs.
  • Classified as Chattel in the State of Idaho.
  • 36 months post Bankruptcy Discharge
  • 24 Month Verification of Rent
  • Minimum Loan Amount $65,000
  • Maximum Term 300 Months (25 years) Fixed Rate.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.
  • >36 Months Discharged for Bankruptcy

 

Mobile Home Mortgage Loan (Not Real Property) Land Plus Program

  • Minimum FICO Score:  550
  • Minimum Down Payment: Depending upon FICO Scores
  • Owner Occupied Only.
  • Constructed after June 15, 1976
  • CAN BE moved multiple times i.e. twice moved
  • Minimum Loan Amount $65,000
  • Singlewide, Doublewide and Triplewide units eligible.
  • Land has to be owned Free and Clear
  • Seller can pay up to 6% towards Closing Costs.
  • Maximum Term 300 Months (25 years) Fixed Rate.
  • Classified as Chattel in the State of Idaho.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.

 

Mobile Home Mortgage Refinance (Not Real Property) Refinance

  • Minimum FICO Score:  660
  • Minimum Loan to Value:  90%
  • Owner Occupied Only.
  • Constructed after June 15, 1976
  • CAN BE moved multiple times i.e. twice moved
  • Minimum Loan Amount $65,000
  • NO Cash Out.
  • Singlewide, Doublewide and Triplewide units eligible.
  • Must be Net-Tangible Benefit to Borrower.
  • Maximum Term 300 Months (25 years) Fixed Rate.
  • Classified as Chattel in the State of Idaho.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.

 

Mobile Home Mortgage Loan (Not Real Property) PRE 1976

  • Minimum FICO Score: 600
  • Minimum Down Payment:  30%
  • 20 Year term for Double Wide, 15 Year term for Single Wide
  • Owner Occupied Only. 
  • Singlewide, Doublewide & Triple Wide.
  • CAN BE moved multiple times i.e. twice moved
  • Constructed BEFORE June 15, 1976
  • Seller can pay towards Closing Costs
  • Classified Mobile Home or Chattel in Idaho
  • Borrower has to own the land the mobile home sits on.
  • Maximum TDebt to Income ratio 55%.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.
  • >48 Months Discharged for Bankruptcy

Mobile Home Mortgage Loan (Not Real Property) Cash Out Refinance

  • Minimum FICO Score:  700
  • Home Built after 1998
  • Owner Occupied Only.
  • CAN BE moved multiple times i.e. twice moved
  • Doublewide and Triplewide units eligible.
  • Maximum Loan to Value is 65%
  • Maximum Term 240 Months (20 years) Fixed Rate.
  • Classified as Chattel in the State of Idaho.
  • HUD tags and certification necessary, LINK HERE to items to watch out for.

 

 

 

Mobile Home Information

Mobile homes are a popular form of housing across the United States, including in Idaho. However, there is some confusion around what exactly constitutes a mobile home in Idaho. In this article, we will explore what is considered a mobile home in Idaho and provide some context around the state’s mobile home industry.

In Idaho, a mobile home is defined as a “factory-built structure or structures, which when erected on a permanent chassis, are designed for use as a dwelling or commercial structure and are equipped with the necessary service connections and made so as to be readily movable as a unit or units.” This definition is outlined in the Idaho Statutes Title 44 Chapter 26. This definition is similar to the definition of a mobile home used in many other states, and it helps to differentiate mobile homes from other types of housing.

One important thing to note is that while mobile homes are designed to be moved, they are not necessarily intended to be moved frequently. In fact, many mobile homes in Idaho are never moved from their original location. Instead, they are placed on a permanent foundation and treated as any other form of housing.

Mobile homes in Idaho are subject to certain regulations and requirements. For example, any mobile home built after 1976 must meet federal manufactured home construction and safety standards. These standards are designed to ensure that mobile homes are safe and durable, and they cover everything from structural requirements to plumbing and electrical systems.

Additionally, mobile homes in Idaho are subject to zoning and land use regulations. This means that they can only be placed in certain areas, and they must meet certain requirements in terms of size, setback, and other factors. It is important to research local zoning laws before purchasing a mobile home in Idaho to ensure that it can be placed in your desired location.  Also consideration is made for how many times a mobile home is moved, lenders can do loan on twice or three time moved manufactured homes.

There are several advantages to owning a mobile home in Idaho. Mobile homes are often more affordable than traditional stick-built homes, making them an attractive option for those on a tight budget. They are also often more energy-efficient, which can help to lower utility costs over time. Additionally, mobile homes can be a good option for those who want to own their own home but are not interested in the upkeep and maintenance that comes with a larger house.

In terms of the mobile home industry in Idaho, it is important to note that it is a significant part of the state’s housing market. There are several mobile home manufacturers and dealers located in Idaho, and many communities throughout the state have mobile home parks that offer affordable housing options.

 

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