Financing Services

Factory-Built Home Financing, Made Easy

Obtaining a mortgage is an essential step toward buying a new home, but options for factory-built homes can seem limited, and the details can sometimes be confusing. At Midwest Homes, our team has experience with the current options and resources for manufactured and modular home financing, and we can help you make sense of it all. We’ll help you find a home loan that’s right for your particular financial situation, and make sure you’re able to do so without delay or unwanted stress. We want to help you get a great deal on a new home you love. Read on to learn more about the financing options Midwest Homes offers, or pre-qualify for a home loan now—just complete and send the short form at the bottom of this page, and we'll reach out to you.

The right loan for any purchase

Land/Home Financing

Also known as a Conventional Mortgage, a Land/Home loan offers homebuyers significant advantages for buying a manufactured home and land together. These home loans may offer a convenient front-end one-time close, and site improvements can be financed into them. You may not need to pay monthly Private Mortgage Insurance (PMI), and you may be able to buy down the loan’s interest rate. In addition, no permanent foundation or survey is mandated. Conventional Mortgages can carry longer loan terms, and closing costs and points can be financed into them, reducing your out-of-pocket closing costs.

Home Only Financing

Also known as Chattel Mortgages, these are personal property loans made for the purchase or refinance of a manufactured home that is not permanently affixed to real property. Down payment requirements for Chattel home loans can be as low as 5%, with terms usually capped at 20 years. Interest rates for Chattel mortgages are typically 3-4% higher than traditional mortgages. At Midwest Homes, we understand the advantages this unique form of home financing offers to buyers of manufactured and modular homes. We can help you qualify for it, and enable you to purchase a new home you love at any budget.

FHA & VA Home Financing

If you’ve had some past credit challenges, but you currently have the ability to repay a mortgage, then FHA manufactured and modular home loans present an excellent opportunity. In many cases, these home loans carry lower credit score and down payment requirements than conventional home loans—this means credit challenges in the past, or a lack of established credit, will not automatically deter you from obtaining an FHA home loan.

The VA offers factory-built home financing to active duty military, veterans, and their spouses. As with FHA loans, VA home loans have lower credit requirements, but they carry significant additional benefits too—you may be able purchase your new home with no money down, you won’t need to make monthly PMI payments, and the home appraiser is selected independently by the VA, which means the lender has little or no control over the appraisal process.

Get Pre-Qualified to Buy a Home


What They Say About Us

Working with Midwest Homes was the best decision I made when buying a new factory-built home. I had been saving for years for this purchase, and wanted to make sure it was done right. Jarod was my guy, and delivered on everything he told me, even went above and beyond. I wouldn’t recommend any other dealer out there, Midwest Homes will take care of you, and give you the best deal on a new home.

Luke Gardner - Junction City, Kansas