Mobile Manufactured Home Loan Program

This program is now available to assist Connecticut residents who are looking to purchase a mobile manufactured home located in one of Connecticut’s state-licensed mobile home parks. At total of $2 million in funding is available for this program to qualified borrowers.

Eligible Borrowers:

Eligible borrowers are first-time buyers (or prior homeowners who have not owned a home in the past 3 years) and must meet regular guidelines under CHFA’s Homebuyer Mortgage Programs.

A Program Criteria Worksheet will be used to determine eligibility for the Program. This form must be completed by the prospective borrower prior to submitting a formal application. Applications for loans from prospective borrowers will be accepted by CHFA until the allocation of funds in the amount of $2 million is exhausted.

Terms and Conditions:

  • CHFA will provide loans for mobile home purchase in a state-licensed mobile home park;
  • The mobile home can be either single or double wide;
  • The term of the mortgage will be either a 15-year term with the option of 30-year term if the mobile home appraises for that term;
  • CHFA will only loan up to 70% of the appraised value of the mobile home, or up to 70% of the purchase price of the mobile home, whichever is less;
  • Borrowers must enter into a lease agreement for the lot for a term of not less than one year, and providing for renewals to cover the whole term of the loan;
  • Borrowers must enter into a Lessor’s Agreement (CHFA’s form) which, among other things, provides a consent to the collateral assignment of the lease and all renewals from the borrower(s) to CHFA, and allows CHFA to cure defaults by the borrower(s) under the lease and to exercise renewals of the lease if borrower(s) fails to do so, and provides other rights and provisions in favor of CHFA;
  • Mobile Manufactured Home Loan Program Interest rate will be 50 basis points above the CHFA Homebuyer Program Rate;
  • CHFA will not finance the purchase of mobile homes manufactured prior to 1976;
  • Wheels, axles, and hitches must be removed and home must be affixed to a permanent foundation;
  • These loans are subject to customary origination fees and closing costs;
  • Borrowers will be required to retain the services of an attorney and will be responsible for paying their fees;
  • Funds for Hazard Insurance, Real Estate Taxes, and Monthly Land Lease will be held in escrow;
  • Application and loan closing process will take place at CHFA’s offices, 999 West Street, Rocky Hill, Connecticut;
  • The Connecticut Housing Investment Fund (CHIF) will service the loan on behalf of CHFA. You will be given information at closing regarding when and where to send your monthly mortgage payment.


Contact Information:

Single Family Underwriting
(860) 571-3502
e-mail: singlefamilyunderwriting@chfa.org