Manufactured Home Loan

Whether you’re looking for a single-wide manufactured home as a starter or a double-wide that fits your entire family, we have a mortgage with competitive rates and flexible terms.

Flexible options

Financing for a manufactured home is available through an Adjustable Rate Mortgage (ARM), a Fixed-Rate Mortgage or our First-Time Homebuyers Loan. The maximum loan term available is 20 years. The maximum loan-to-value (LTV) for purchases and non-cash-out refinances is 100% for ARMs and 95% for fixed-rate mortgages.

For purchases, the maximum finance amount and the loan-to-value financing tier are determined based on either the sales price of the home or the appraised value of the home, whichever amount is less. You will need to cover appraisal costs and an origination fee of 1% of the loan amount with a cap not to exceed $2,500. There are no loan application fees and no credit report fees.

Property qualifications

The LGFCU Manufactured Home Loan can only be used for a property that has been affixed to a foundation made of brick or block and has been listed as “real property” by the county tax office. Make sure the Division of Motor Vehicles destroys the mobile home title.

To qualify for this loan, the home you are purchasing must be your primary residence and have been manufactured on or after June 15, 1976. It must be placed on property owned by you, on a permanent foundation with the tongue, wheels and axle removed, and with a pitched metal or shingled roof. Also, the home must have deeded access or access directly to a state-maintained road.

Any property you purchase with an LGFCU mortgage must be located in North Carolina, South Carolina, Virginia, Georgia or Tennessee. Members must reside in NC or bordering states to be eligible.