We do not finance homes
in mobile home parks.

Why the answer is no, and why it is not personal

A mortgage is a lien recorded against real estate. That is the whole mechanism. The lender's security is the property, and the property has to be something a lien can be recorded against.

A manufactured home sitting on a rented lot is not real estate. It is personal property with its own certificate of title, the same way a vehicle has one. The land underneath belongs to the park. There is no parcel the buyer owns, so there is nothing to record a mortgage against.

Michigan is especially clear on this. A manufactured home only becomes real property here through an affidavit of affixture, and affixture requires an ownership interest in the land. No land ownership means no conversion. No conversion means no mortgage.

So this is not a judgment about the home, the park, or the buyer. It is a description of what a mortgage physically is.

What does make a manufactured home financeable

Owning the land it sits on. That is the one that changes everything. If a parcel is in the picture, whether you own it already or you are buying it, four things decide the outcome.

• You own or are purchasing the land the home sits on
• The home was built on or after June 15, 1976, the HUD Code date
• It sits on a permanent foundation meeting HUD standards, certified by a Michigan licensed engineer
• It is titled as real property, or can be converted through an affidavit of affixture

Meet those four and standard programs including FHA, VA, USDA, and conventional may be available depending on the specifics. All loans are subject to credit approval and underwriting.

If you own land, or you are looking at land, that is a conversation we can actually move forward. Call before you write an offer and we will tell you where things stand in about ten minutes.