Most shoppers seeking manufactured home ownership will need financing and will be confused as to how that is to be accomplished. A sales person that has developed a comfortable and trusting rapport with the home shopper and possesses a basic knowledge in the various types of manufactured home and modular home financing programs available, will be more effective in securing the home sale.

There are multiple loan type options available for manufactured home purchasers. One of the available financing sources available to veterans is the Veteran’s Administration (VA) manufactured home loan program.

A Veteran’s Administration (VA) manufactured home loan can cover 100% of the total costs with zero down payment. The participating lender will require funding to cover the costs of the home loan program. Borrowers must have a minimum 620 credit score to qualify, plus meet the the basic criteria of appropriate length and character of military service and have a Certificate of a VA Entitlement Eligibility (DD214) equivalent to 25% of purchase price of the manufactured home.



Author’s Analysis: The VA financing program is under utilized as seemingly few conventional lenders offer and/or promote the program. However, military credit unions, such as Navy Federal Credit Union and Tinker Air Force Credit Union (TFCU) are excellent sources of financing for veterans, offering mortgage interest rates as low as 2%, home purchase plus cost of land construction loans, or home only loans. Paperwork and documentation requirements are less in number and not as complicated as other government insured/endorsed loans.