July 30, 2025
8 minutes
Refinancing a mobile home loan can feel complicated, especially if you've hit roadblocks like unclear guidelines, unexpected costs, or lender confusion. You’re not alone. Many homeowners in manufactured housing communities or land-leased properties face the same challenges. The good news? You can refinance, and this guide will walk you through everything, no jargon, no fluff.
Key Takeaways:
- Refinancing a mobile or manufactured home loan can reduce your monthly payment or secure a better interest rate.
- Understand eligibility requirements based on your home type, loan type, and land ownership.
- Compare lenders, loan terms, and fees carefully to avoid UDAAP or hidden costs.
- FHA, Conventional, and non-QM refinance options are available, even with credit challenges.
- Important disclosures and licensing info required; always work with a compliant lender.
Understanding Mobile Home Refinance Basics
What qualifies as a mobile or manufactured home?
- Built after June 15, 1976, and meets HUD standards
- At least 400 square feet of living space
- Built on a permanent chassis
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Key eligibility questions:
- Do you own the land or lease it?
- Is the home titled as real property or personal property?
- Was the home permanently affixed to a foundation?
Refinance goals to consider:
- Lower your interest rate
- Switch from an adjustable to a fixed rate
- Cash out equity
- Eliminate high-cost chattel loans
Types of Loans Available for Refinancing
1. Conventional Refinance
Ideal if your mobile home is classified as real property and permanently affixed.
Pros:
- Lower rates
- Potentially better terms
- Access to cash-out
Cons:
- Stricter credit/income requirements
2. FHA Title I & II Loans
Backed by the government, these work for homes on rented land too.
FHA Title I: Personal property option for homes not titled as real estate FHA Title II: For homes considered real property
Pros:
- Flexible credit guidelines
- Government-backed security
Cons:
- Mortgage insurance required
- Property must meet HUD standards
3. Non-QM Loans
For borrowers with unique situations—low credit, self-employment, and high DTI.
Examples:
- DSCR loans for investment properties
- Bank statement loans for self-employed borrowers
Heads Up: These loans can carry higher interest rates, so compare carefully.
Step-by-Step Refinance Process
Step 1: Determine Eligibility
- Check title status (real vs personal property)
- Confirm the home is HUD-compliant
- Know your credit score, DTI, and income stability
Step 2: Choose the Right Lender
- Look for a mobile home experience
- Ask about FHA, Conventional, and Non-QM options
Step 3: Compare Terms and Fees
- Get the full Loan Estimate (LE)
- Watch for trigger terms (payment, rate) requiring APR disclosure under TILA
Step 4: Appraisal and Underwriting
- Appraisal required for most refinances
- Lenders evaluate value, title, and income
Step 5: Close and Save
- Review Closing Disclosure (CD)
- Sign and fund within the 3-day rescission period
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Compliance Notes and Borrower Protections
- SAFE Act: All loan originators must list their NMLS ID - reAlpha Mortgage’s is #1743790
- TILA/Reg Z: Any rate, payment, or term advertised must also clearly disclose the APR
- RESPA/Reg X: No hidden fees or referral kickbacks allowed
- UDAAP: Marketing must be transparent, fair, and non-deceptive
Always verify lender licensing and disclosures-it's not just smart, it's federal law.
Conclusion: Refinance Smarter. Save Bigger.
Buying a home is a big decision - and having the right information puts you ahead. But the real advantage comes from pairing smart research with a smarter way to buy.
When you use a reAlpha real estate company, you can be eligible to receive up to 1% of the home purchase price back as a credit at closing. Add reAlpha Mortgage, and that rebate can increase to up to 1.5% back, helping offset closing costs and keep more money in your pocket when it matters most.
The rebate is simple, transparent, and applied directly at closing - no complicated hoops, no delayed payouts. Just real savings tied to using a fully integrated homebuying experience.
See how much you could save:
- Check your eligibility
- Explore homes that fit your budget today.
- Your next move could come with thousands back at closing.
Estimate your savings → Rebate Calculator
Explore your refinance options at reAlpha Mortgage →
FAQs
Can I refinance my mobile home if I don’t own the land?
Yes, through FHA Title I or certain Non-QM loans. You’ll need to meet specific lender and HUD criteria.
Is refinancing worth it for older manufactured homes?
It depends on the condition, HUD compliance, and market rates. Homes built after 1976 are generally eligible.
What credit score do I need?
Minimums vary by loan type: FHA allows as low as 580, while Conventional may require 620+.
Will I need an appraisal?
In most cases, yes, especially for cash-out or Conventional refinances.
How long does the process take?
On average, 30–45 days, depending on your paperwork and lender efficiency.
Do I have to pay closing costs again?
Yes, though some lenders offer credits or roll costs into the loan. Always review your Loan Estimate.
Are there refinance options if I’ve had credit issues?
Yes. Non-QM and FHA loans may work for borrowers with past credit challenges.
This guide is intended for educational purposes only. Rates, eligibility, and terms vary based on individual borrower profiles and market conditions. Always consult with a licensed mortgage advisor before making financial decisions.
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Article by
Rocky Billore is a mortgage industry leader and Chief Sales Officer with over two decades of experience across residential and commercial lending. Since entering the industry in 2004, he has been directly involved in funding more than $1.4 billion in loans. A recognized expert in VA and government lending, Rocky combines deep program knowledge with a data driven, relationship-first leadership style. His work focuses on building scalable sales organizations, developing high performing teams, and aligning technology with real world lending outcomes to improve the homeownership experience.