Mobile Manufactured Home Refinance Program

The Mobile Manufactured Home Refinance Program offers loans to homeowners interested in refinancing a mobile manufactured home that is located in a state-licensed mobile home park.  Applicants must meet Eligibility Requirements below to apply for a loan.  Due to a limited amount of funding for this program, approval depends on the availability of funding.  

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  Benefits 

  • Program offers a below-market interest rate  
  • Low closing costs to refinance (Closing costs may be included in total loan amount)
  • You may lower your current monthly payments

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  Eligibility Requirements

  • Your mobile home must be your primary residence and you may not own any other residential or commercial property.  Investment or vacation properties are not allowed.
  • The minimum amount eligible for refinancing is $20,000; the maximum amount eligible for refinancing is $100,000.
  • Homeowners with a loan interest rate of 6.00% or higher and a remaining term of 5 years or more on the loan obligation are eligible to apply.
  • The borrower's gross income must not exceed the CHFA established income limits based on household size.   The CHFA Resource Map can tell you if you are within program eligibility limits.   

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  Property Guidelines

  • The mobile home must be affixed to a permanent foundation, with the wheels, axels, and hitches removed.
  • The mobile home must be an owner-occupied,  year-round home located in a state-licensed mobile home park.
  • You will be required to provide a copy of the most recent annual, renewable lot lease agreement before closing on your loan.

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  Additional Considerations

  • You must have a minimum of 20% equity in your mobile home.
  • CHFA will lend up to 80% of the appraised value.
  • Down payment assistance loans cannot be combined with this program.  Subordinate financing on the property at the time of closing is not allowed.

How to Apply

You will need to complete an prequalifying application to determine your eligibility.  Once this form is completed, contact the CHFA participating lender for this program,  Capital For Change, Inc.  at (855) 656-5500 or email them at lending@capitalforchange.org