Wyoming Chattel Mortgage on Mobile Home

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Multi-State
Control #:
US-0007BG
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Word; 
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Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.
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  • Preview Chattel Mortgage on Mobile Home
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FAQ

Prepare to meet these requirements to qualify for a chattel mortgage: Credit score: You'll need an excellent credit score (around 680 or higher) to qualify for this type of loan.

Best Mobile Home Loans Reviews Best for Rural Areas: USDA. ... Best for a Variety of Loan Options: Vanderbilt Mortgage and Finance. ... Best for Low Credit Scores: Manufactured Nationwide. ... Best for Good Credit Scores: ManufacturedHome. ... Best for Mobile Homes Within a Community or Park: 21st Mortgage Corporation.

Current interest rates Type of loanTypical ratesTypical termsFHA6.98%Up to 30 yearsFannie MaeVariesUp to 30 yearsFreddie MacVariesUp to 30 yearsChattel5.99% -12.99%Up to 20 years1 more row ?

Conventional Mortgages Conventional mortgages are the most common type of mortgage. That said, conventional loans may have different requirements for a borrower's minimum credit score and debt-to-income (DTI) ratio than other loan options.

Compare the Best Mobile Home Loans CompanyStarting Interest RateLoan Terms (range)Manufactured Nationwide Best OverallVaries15, 20, or 30 yearsManufacturedHome.Loan Best for Good CreditVariesVaries21st Mortgage Corporation Best for Bad CreditVariesVarieseLend Best for Low Down PaymentVariesVaries1 more row

Vanderbilt Mortgage can finance mobile, modular or manufactured homes, both new and pre-owned. While the application itself is similar, there are some differences between both. Terms and conditions for the loans may differ, and the way you apply can also vary.

Typically, a mobile home has to be built after 1976 to qualify for a mortgage, as we'll explain below. In this case your loan would work almost exactly the same as financing for traditional ?stick-built? houses.

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Wyoming Chattel Mortgage on Mobile Home