A Simple Guide to Buying a Manufactured Home in California

Purchasing a manufactured home can provide first-time homebuyers with a path towards homeownership. With a variety of sizes and styles that offer modern amenities more people are considering this as an option in California. This guide can provide you with some helpful tips if you are thinking about buying a manufactured home. 

Why choose a manufactured home?

• Can be more affordable than a traditional home
• Customizable floor plans and features
• Desirable locations throughout California
• Loan options for up to 30 years
• Many homes are move-in ready

Can I get a loan to buy a manufactured home?

The process and qualifications for getting a loan for a manufactured home may be slightly different from purchasing a traditional home. Manufactured homes must be at least 540 square feet, built in specialized factories, placed on a permanent foundation, and usually treated as personal property. If you are a first-time homebuyer, it's a good idea to explore the various loan options to determine your eligibility and find what works best for you. 

Before applying for a loan: 

Review your credit score and determine what you can afford. Set a budget that includes monthly mortgage payments, insurance, taxes, closing costs, and any applicable property lot or leasing fees. 

Gather these important documents: 

• Photo identification 
• Recent pay stubs and bank statements
• Tax returns and W-2s/1099s
• Two years of address history

Community West Bank offers specialized financing options for manufactured home purchases.

Our team of lending specialists have helped thousands of homeowners with the purchase of their manufactured home in over 300 Bank-Approved parks throughout California. Whether you're a first-time home buyer or refinancing, we're here to guide you through the process and help you find the right lending solution that best fits your needs.