How To Finance A Mobile Home In North Carolina: The Top 4 Options

4 Ways To Finance your Mobile Home in NC

There are several options for financing a mobile home in North Carolina. Depending on your situation consider the following four main financing options you should seek:

  1. Mortgage Loan: You can obtain a mortgage loan from a bank or mortgage lender to finance your mobile home. You will need to provide documentation such as proof of income, credit history, and a down payment to qualify for the loan.
  2. Personal Loan: If you are unable to qualify for a mortgage loan, you may be able to obtain a personal loan from a bank or credit union to finance your mobile home. Personal loans typically have shorter terms and higher interest rates than mortgage loans.
  3. Seller Financing: Some mobile home sellers may offer financing directly to the buyer, in which case you can negotiate the terms of the loan with the seller.
  4. Government-Insured Loan: The Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) offer government-insured loan programs that may be available to finance a mobile home. These loan programs may have more relaxed credit and down payment requirements than traditional mortgage loans.
  5. Manufactured Home Community Financing: If you are purchasing a mobile home in a manufactured home community, the community may offer financing options through its own financing program or through a third-party lender.

Can I Get A Regular Mortgage Loan For My Mobile Home?

It is possible to obtain a mortgage loan to finance a mobile home. Mobile homes, also known as manufactured homes, can be financed through a mortgage loan just like a traditional home. However, there are a few differences to be aware of when it comes to financing a mobile home.

  1. First, not all lenders offer mortgage loans for mobile homes. Some lenders may only offer personal loans or other types of financing for mobile homes, while others may not offer financing at all. It is important to shop around and compare different lenders to find one that offers mortgage loans for mobile homes.
  2. Second, mobile homes may have different eligibility requirements for mortgage loans than traditional homes. For example, the mobile home may need to be permanently affixed to a foundation and meet certain construction and safety standards in order to qualify for a mortgage loan.
  3. Third, mortgage rates and fees for mobile homes may be different than those for traditional homes. It is important to carefully compare the terms of different mortgage loans and choose one that is affordable and meets your needs.

Companies That Offer Manufactured Home Loans in North Carolina

Mortgage Loan ProviderPhone Number
1st Choice Home Centers(704) 225-8850
AHR Builders(704) 279-7997
Atlantic Housing LLC.(919) 751-1990
Board of Trade(828) 648-5371
Bogue RV LLC(252) 424-8344
Brady Homes Inc.(336) 629-0404
Bryant Home Center(336) 468-4854
Cardinal Homes of NC LLC(704) 218-2188
Carolina Custom Homes of Burli(336) 226-9066
Carolina Homes of Franklin LLC(828) 524-8091
Carolina Homes of Lumberton(910) 536-1005
Carolina Homes of Ocean Isle(910) 575-1045
CARTER’S HOMES(828) 684-6184
Castle Manufactured Homes(919) 738-1624
Cato Development LLC(704) 825-2946
Cedar Village Mobile Homes(828) 248-3370
Compact Cottages(706) 245-9241
Compact Cottages(828) 634-0077
Country Fair Homes(919) 775-3600
Countryside R.V.(336) 468-6774
Cromartie Enterprise LLC(910) 872-5302
Custom Built Homes of the Caro(910) 803-0731
Davis Investment Properties LL(336) 587-5622
Down East Elizabeth City(252) 338-9150
Down East Homes of Beulaville(252) 227-4164
Down East Homes of Beulaville(910) 298-6111
Down East Homes of Morehead Ci(252) 247-5805
Down East Realty & Custom Home(252) 649-1799
Down East Realty & Custom Home(252) 686-5235
Dynasty Homes of Greenville In(252) 439-0600
Eagle Homes(919) 202-0400
East Coast Mobile Home Sales(910) 324-5611
Factory Expo Home Center(910) 814-4256
Factory Housing of Boone Inc.(828) 297-1130
Factory Select Homes(980) 434-9994
Family Housing Center(252) 686-8881
First Choice Homes Inc.(252) 523-3680
Frank’s Home Place Inc(252) 459-7132
Future Homes(910) 577-6400
Goldsboro Homes L.L.C.(919) 778-5477
Greenfield Housing Center(919) 772-2220
H & H Homes(828) 400-0899
Heavenly Homes(919) 735-4400
Heritage Homes USA Inc.(910) 590-2212
Heritage Housing(336) 626-9103
Home Connections(910) 298-3387
Homes by Vanderbuilt(919) 718-2760
Hometown Housing(704) 225-8850
J.W. Home Sales(828) 632-8420
JNH Builders Inc.(828) 438-9445
Joyful Homes Inc.(919) 496-1500
Key Builders Inc.(704) 735-2390
Kingdom Homes(252) 946-5374
Manis Custom Builders Inc.(910) 276-0195
Marty Wright Home Sales Inc.(910) 563-9933
Marty Wright Home Sales Inc.(910) 654-1403
Modern Housing(919) 751-1986
Modular Home Solutions(910) 640-5556
Moncure Mobile Homes(252) 537-2765
North Carolina Custom Modulars(336) 610-5150
Option II Mobile Home Village(910) 389-9534
Outlaw Mobile Homes Inc.(919) 658-6636
Paradise Homes of Johnston County(919) 284-5206
Parrish Manor Housing(919) 661-1234
Piedmont Homes(828) 329-0658
Piedmont Mobile & Home Supply(336) 570-9840
Premier Homes of the Carolinas(828) 687-1200
Premiere Home Properties LLC(252) 535-5886
Preserve at Whiteside Cliffs(470) 552-5151
Prevatte’s Home Sales Inc.(910) 739-3000
Ray Shankle Home Sales Inc.(910) 582-5066
Regional Enterprises LLC(910) 754-4900
Regional Homes of Lumberton(910) 827-8274
Ridgeline Homes(828) 349-0403
Select Homes Inc(336) 625-4693
Simple Life The Village at Fla(828) 707-0969
South Bay Developers Inc.(910) 575-7944
Southeastern Home Sales(910) 739-2068
Star Mobile Home Sales Inc.(704) 588-0351
Starling Homes Inc(919) 965-8186
Stony Brook North(919) 872-2346
SUITS HOMES INC(919) 663-2406
Terry Pate Home Sales(910) 738-9594
The Daly Company Inc.(919) 751-0622
Tiny Homes of Lake Norman(704) 489-6033
Titan Factory Direct Homes – C(828) 483-5689
Unique Homes II(252) 975-4663
Ventures Housing Center(252) 433-9595
Wellington Community Estates(828) 274-4111
Wesley’s Housing Center(252) 535-0038
Wheels & Deals Inc.(336) 789-0200

How Do I Seller-Finance A Mobile Home?

Seller financing is a type of financing arrangement in which the seller of a property provides the financing for the buyer to purchase the property. In this case, the seller acts as a lender and the buyer pays the seller back over time, typically with interest.

There are several advantages to seller financing. For the buyer, it may be easier to qualify for seller financing than for a traditional mortgage loan, especially if the buyer has less-than-perfect credit or a limited down payment. Seller financing can also allow the buyer to negotiate the terms of the loan, such as the interest rate and the length of the loan.

  • For the seller, providing seller financing can be a way to sell a property that might not otherwise be sellable. It can also allow the seller to earn additional income from the loan in the form of interest payments.
  • Seller financing can be a good option for both buyers and sellers, but it is important to carefully consider the terms of the loan and to seek the advice of a financial advisor or attorney if necessary.

Interested in purchasing a mobile on on seller-financing terms? You can sign up to get updates on our manufactured homes for sale list.

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Can I Get An FHA Loan For My Mobile Home?

Obtaining a Federal Housing Administration (FHA) loan to finance a mobile home is possible. The FHA offers a loan program called the Title II loan that is specifically designed to help buyers purchase or refinance manufactured homes.

To qualify for an FHA Title II loan, the mobile home must be permanently affixed to a foundation and meet certain construction and safety standards. The borrower must also meet the FHA’s credit and income requirements and make a down payment of at least 3.5% of the purchase price.

FHA Title II loans can be used to finance the purchase of a mobile home, as well as the purchase of a lot on which the home will be placed. They can also be used to refinance an existing mobile home loan.

FHA loans are popular among home buyers because they have more relaxed credit and down payment requirements than traditional mortgage loans. However, they do have certain fees and insurance premiums that must be paid by the borrower.

If you are interested in obtaining an FHA loan for a mobile home, it is important to compare different lenders and carefully consider the terms of the loan. It may also be helpful to seek the advice of a financial advisor or housing counselor.

Mobile Home Financing In Manufactured Home Communities

YES! Some manufactured home communities offer financing options for mobile homes. Manufactured home communities, also known as trailer parks or mobile home parks, are communities that are specifically designed for residents who live in mobile homes. Many of these communities offer amenities such as water, sewage, and garbage services, as well as recreational facilities and other shared amenities.

If you are purchasing a mobile home in a manufactured home community, the community may offer financing options through its own financing program or through a third-party lender. These financing options may be more flexible and may have more relaxed credit and down payment requirements than traditional mortgage loans.

It is important to carefully compare the terms of any financing options offered by the manufactured home community and to shop around to find the best deal. It may also be helpful to seek the advice of a financial advisor or housing counselor.

Overall, it is possible to finance a mobile home through a mortgage loan, but it is important to do your research and shop around to find the best deal.

Regardless of which financing option you choose, it is important to carefully consider the terms of the loan and shop around to find the best deal. It may also be helpful to seek the advice of a financial advisor or housing counselor.

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Khalid Omotosho

Hi! My name is Khalid Ola β€” I was born in West Africa, and came to the United States with a dream. I wanted to find a way to help people with tough situations because I came from a tough situation. I started Triad Mobile Homes, LLC three years ago with the purpose of helping individuals and families get out of any situation I could help with.