Manufactured home buyers: looking for conventional financing options that cost significantly less than site-built homes? You can often find a manufactured home at half the cost of a traditional house in many markets. I’m John Thomas, a loan officer with Primary Residential Mortgage, and I help buyers understand conventional loan options for single-wide, double-wide, and multi-wide manufactured homes.

Here’s what you need to know upfront

Manufactured homes require stricter guidelines than site-built properties. Most conventional loans for manufactured homes require a minimum credit score of 620 and a down payment of 5% in most cases. You’ll also need mortgage insurance for down payments under 20%, and rates typically run higher compared to traditional home loans. Keep Reading...