Land and home loans for manufactured homes
A land and home loan is for when you need the whole package – both the land and the manufactured home included in the loan. The land and home loan can be used for a manufactured home already on land, or for a new home to be installed on the land. If you’re placing a new manufactured home on land, often times a construction loan may be required, depending on the individual circumstances (see new construction loans for more information). If you already own the land and are placing a home on it, this is also a land and home loan. This is referred to a “land in lieu”, meaning the land equity is used in lieu of a cash down payment. Whatever the case, the land and home are all combined into one loan.