Exploring Manufactured Home Financing Options

In addition to building the best home on the market, Affordable Homes of Defuniak, a Division of Ranch USA Homes offers access to multiple avenues of finance to purchase your new home. Simply put we want your business and work hard to offer you options that fit your family’s financial needs. We are proud to offer finance programs that fit all credit situations.

Here are your options:

Cash

Some buyers may choose to purchase their home outright and pay cash.

Home Only or Chattel Financing

This is a loan only on the home and does not encumber one's land. A minimum down payment of 5% is required, however, higher credit scores may qualify for no money down.

Land-in-Lieu Financing or Land Plus

Use your land as your down payment. Many customers choose this option in lieu of investing cash as a down payment. In this situation, the land is collateral for the mortgage. Appraised values of the land do have a bearing on the down payment.

Land Home Loan

This loan allows you to purchase the home, land, and land developing (clearing, septic/sewer, utilities, etc.) all at one time.

Equity Program

This option does not require a minimum credit score and is available to all buyers. Down payment may be higher than other programs.

Buy for Loan

This option allows a relative or friend to purchase the home for another individual. This loan is typically used if the occupant of the home has poor credit or is not working.

Co-Signer

This options helps an individual or couple qualify for a loan if they have limited or not credit history.

Secondary Residence Loan

This option is for vacation homes or other non-primary residences. Down payments are typically higher than other programs.

Conventional Mortgages

Affordable Homes of Defuniak has the ability to assist you in securing the best mortgage for your new home from some of the top lenders in the country specializing in manufactured and modular housing loan programs.

FHA Loan

FHA Manufactured Home loans represent a popular option for home buyers who currently have the ability to repay a mortgage and may also carry lower down payment requirements.

VA Loan

VA modular and manufactured home loans are meant to honor American military members by making it easier to secure an affordable loan with construction financing included.