Thinking about buying a manufactured home instead of a site-built home in Raleigh County? The financing steps can look similar at first, but a few key details decide your loan options, down payment, timeline, and even your appraisal. If you know what lenders need and where to start locally, you can save time and stress. This guide walks you through the differences, what documents to collect, and how to keep your purchase moving. Let’s dive in.
Manufactured vs site-built basics
A manufactured home is factory-built to the federal HUD Code and typically delivered in sections. A site-built home is constructed on the lot and is recorded as real property. You can finance both, but lenders look for different things with manufactured homes, especially the foundation and title status.
When a standard mortgage works
If the manufactured home is on a permanent foundation and classified as real property, many lenders can offer mortgages similar to site-built loans. Programs like conventional, FHA, VA, and USDA may be available when the home meets program and lender requirements. Expect a similar process to a site-built purchase, though some lenders may require a bit more documentation.
When a chattel loan is used
If the home is not converted to real property and still has a personal property title, lenders often use a chattel loan. This is a personal property loan, not a real estate mortgage. Chattel loans usually come with higher interest rates, larger down payments, and shorter terms, often 15 to 20 years.
Loan options at a glance
Conventional (Fannie Mae and Freddie Mac)
- Site-built homes commonly qualify with a wide range of down payment options.
- Manufactured homes can be eligible when the home is HUD-compliant, on a permanent foundation, and recorded as real property. Some lenders may require stronger credit or a larger down payment.
FHA Title II
- FHA can insure mortgages on manufactured homes that meet FHA rules.
- You may see similar down payment and 30-year term options as site-built FHA loans when the home is on a permanent foundation and meets FHA criteria.
VA loans
- VA can guarantee loans on manufactured homes that meet VA standards, including foundation and title requirements.
- Check eligibility early with a VA-approved lender to confirm the home type and title status.
USDA Rural Development
- USDA can finance manufactured homes in eligible rural areas when program rules are met.
- Use the program’s map to confirm your Raleigh County property location is eligible before you write an offer.
State and local programs
- The West Virginia Housing Development Fund may offer competitive rates or down payment assistance.
- Eligibility for manufactured homes varies by program. Confirm details with WVHDF or a local housing counselor before you apply.
What lenders look for on manufactured homes
Foundation and affixation
Lenders want proof of a permanent foundation that meets program standards. You may need a professional foundation inspection or certification. The home’s chassis and towing equipment should be handled according to program requirements, and utility connections should be permanent.
Title status and real property conversion
If the home started with a mobile home title, you may need to surrender that title and record the home as real property to use most mortgage programs. In West Virginia, the DMV and the Raleigh County Clerk oversee title and recording steps. Your lender will ask for evidence that the conversion is complete if you plan to use a mortgage.
Land situation: park vs owned lot
Homes on leased land in a mobile home park can be harder to finance with a standard mortgage. Many buyers in parks use chattel loans or park-approved financing. Lenders review the lease term and rules because those affect marketability.
Age, size, and condition
Programs may require a minimum size and that the home is built to the HUD Code. Lenders also check roofing, HVAC, plumbing, electrical, and overall condition. Having the HUD Data Plate information ready helps confirm compliance.
Down payments, rates, and terms
- Site-built homes: Down payments can range from 0 percent for VA or USDA to about 3 to 3.5 percent for some conventional first-time-buyer and FHA options, up to 20 percent for best conventional pricing. Terms of 15 to 30 years are common.
- Manufactured homes as real property: When eligible for a mortgage, down payment and term options often look like site-built loans. Some lenders may require a higher down payment or reserves.
- Manufactured homes with chattel loans: Down payments are often higher, commonly about 10 to 25 percent depending on the lender and borrower profile. Interest rates are usually higher and terms shorter, which can raise the monthly payment.
Appraisals and valuation
Appraiser experience matters
Manufactured-home appraisals should be done by appraisers familiar with factory-built housing. When there are fewer recent manufactured sales nearby, appraisals can take longer.
Foundation and systems affect value
Proof of a permanent foundation, anchoring, and permanent utility hookups can support both eligibility and value. Missing or incomplete documentation can slow closing.
Leased land considerations
Homes on leased lots often appraise lower and may not qualify for standard mortgage programs. The lease can affect the appraised value and lender appetite.
Timing
Appraisals are a common cause of delay for manufactured homes. Ordering the appraisal after confirming eligibility and foundation status helps avoid stops and starts.
Your document checklist
Standard borrower documents
- Recent pay stubs and W-2s or tax returns
- Government ID and authorization for a credit check
- Bank and asset statements
- Signed purchase contract and earnest money information
Manufactured-home property documents
Current title, or proof the title was surrendered if recorded as real property
HUD Data Plate details and serial or VIN numbers
Foundation or affixation certification, if required by the program
Photos of the home, floor plan, and a site map
Appraisal report and any required surveys
Park lease, if on leased land, including terms and rules
Proof of homeowner’s insurance, and flood insurance if required
Septic, well, or public utility certifications as applicable
For chattel loans
- Personal property title and any prior lien release letters
- Lender-required inspections
Local steps in Raleigh County
- Raleigh County Assessor: Ask how the home will be classified for taxes when converted to real property.
- Raleigh County Clerk or Recorder: Confirm deed and mortgage recording procedures and manufactured-home recording requirements.
- West Virginia DMV: Review the process for surrendering a mobile home title or converting to real property.
- Local zoning office: Verify placement, permits, and utility connections if the property is inside town limits.
- West Virginia Housing Development Fund: Check current program rules and manufactured-home eligibility.
- USDA Rural Development: Confirm property eligibility if you plan to use USDA.
- Approved FHA or VA lenders in Raleigh County: Verify program checklists and any lender-specific overlays for manufactured homes.
Avoid delays: our agent-lender playbook
- Confirm eligibility early. Ask your lender if the home must be real property or if a chattel loan is needed.
- Review title and HUD plate information up front. Your agent can request it from the seller before you finalize terms.
- Order the foundation inspection early if real property conversion is planned.
- Use an appraiser who is experienced with manufactured homes.
- Review park leases immediately if the home is in a community.
- Arrange insurance quotes and flood checks early in the process.
- Confirm recording and tax procedures with county offices so closing documents are prepared correctly.
- Share a clear document checklist with the seller and buyer to speed collection of manufactured-home items.
Which path fits your situation?
- You own or will own the land, and the home is permanently affixed: A mortgage through conventional, FHA, VA, or USDA may be possible if other program rules are met.
- The home is in a park on leased land: A chattel loan or park-approved financing may be your realistic path.
- The home needs conversion to real property: Plan for a foundation certification and title work early so you do not lose time during appraisal and underwriting.
Next steps
Financing a manufactured home in Raleigh County is doable when you line up the right foundation, title, and documentation. A clear plan from offer to recording helps you qualify for the best program available to your situation. If you want a local partner who anticipates the steps and helps you avoid delays, reach out to LILLYWOOD REALTY. We’ll help you compare loan paths, coordinate with your lender, and keep your purchase moving.
FAQs
Can I get a mortgage on a manufactured home in Raleigh County?
- Yes, if the home meets program and lender rules like HUD compliance, a permanent foundation, and the right title status. Otherwise, a chattel loan may be used.
How do I tell if a manufactured home is real property or personal property in West Virginia?
- Review the paperwork and check with the seller, the Raleigh County Clerk, and the West Virginia DMV. Your lender will require proof of status during approval.
Are down payments and interest higher for manufactured homes?
- If you use a chattel loan, they often are. If the home is real property and eligible for a mortgage, down payment and terms can be similar to site-built with possible lender overlays.
Can I use state assistance for a manufactured home purchase in WV?
- Possibly. The West Virginia Housing Development Fund offers programs, and eligibility for manufactured homes varies by program. Confirm current rules before applying.
Can I get a regular mortgage if the manufactured home is in a mobile home park?
- It is often more difficult. Lenders review the lease term and rules, and some programs exclude homes on leased land, so chattel financing may be the practical route.
