What is the interest rate to purchase a mobile home?

Interest rates and loan options for mobile homes depend heavily on whether the home qualifies as real property (on land, permanent foundation). Rates are typically around 6.75%–9%+, but can jump to 8–12%+ if it’s a chattel loan (home not attached to land). Down payment depends on the loan: FHA can be 3.5% down, conventional around 3–5%, and VA can be 0% down if eligible. You can use a VA loan, but the home must be on a permanent foundation, built after 1976, and classified as real estate. Not all lenders offer VA manufactured home loans. For FHA, the home must be built after 1976, on a permanent foundation, classified as real property, you must own the land, it must be your primary residence, and it has to meet HUD/FHA appraisal and foundation requirements. Minimum credit is 580 for 3.5% down. Loan terms can go up to 30 years if the home and land qualify. If the property doesn’t meet these standards, expect higher rates, shorter terms, and fewer loan options.