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A traditional site-built home is considered real property, whereas a manufactured home may be considered personal property (or chattel) unless the home is fixed to that land. According to a 2014 report from the CFPB, only 14% of new manufactured homes are titled as real property, so chattel financing is the only option available.

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Chattel loans are often used for mobile and manufactured homes when the home is going into a park or manufactured home community. A chattel loan is a home-only loan, as opposed to a loan for the home and land together.

A mobile or manufactured home not permanently affixed in some way to the land beneath it is considered personal property. Lenders don’t mind extending long-term mortgage loans on land and homes.

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FHA will back a loan for a manufactured home, either single or double-wide. The home must qualify as real estate by being attached to the land with a permanent foundation, and the property must be.