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A couple signing a document to purchase a mobile home in Merced, CA

Quick guide to buying mobile homes

Also called manufactured homes, mobile homes are factory-made housing units that are significantly cheaper than traditional ones but still provide comfort, durability and safety.


Since they are constructed in line with the US Housing and Urban Development’s strict standards, they are safe enough to withstand severe weather conditions. 


While some people opt to have their mobile homes set up on a piece of land they own, nowadays, most of these are situated in lease-owned communities with amenities like swimming pools and walking trails. One great example is [insert mobile home community, which offers these features: 


  • swimming pool 
  • clubhouse with a full kitchen
  • green spaces 
  • recreational areas 


This stunning mobile home park is an ideal neighborhood if you’re looking for a suburban vibe home that’s situated near major thoroughfares and cities. To learn more about this place, please send us a message. 


Is buying a mobile home a good choice for a first-time buyer?

Due to rising real estate prices, especially in large cities, traditional houses may not be accessible to first-time home buyers. To give you an idea, the average monthly mortgage payment was 50% higher in 2022 compared to the previous year. 


Fortunately, mobile homes are a more affordable housing option for first-time homebuyers since they cost less than a stick-built house of the same size and construction material. 


How to finance a mobile home purchase?

Institutions like the Federal Housing Administration (FHA), the Department of Veteran Affairs (VA), Fannie Mae and Freddie Mac offer up to 30-year mortgage financing options for mobile homes. However, note that they usually require your unit to be at least 400 square feet, attached to a permanent foundation and classified as real estate, among other requirements. 


While most traditional banks don’t offer mortgage loans for mobile homes, you can still get a chattel loan or a personal loan to buy a manufactured home. But with these financing options, always proceed with caution because they generally have shorter repayment terms and higher interest rates and monthly payments. 


Some mobile home sellers may also offer in-house financing options. You can arrange this through a retail installment contract. 


Do you have to pay property tax if you live in a mobile home?

The short answer is yes; however, the tax you pay varies depending on several factors. For instance, if your mobile home is set up on a plot of land you own, you need to pay real estate tax for the land and the unit. But if it’s on leased land — such as a mobile home park — you only pay the personal property tax for the home. 


Remember that failure to pay the corresponding tax may result in foreclosure if your mobile home is considered real property.


Final word 

Mobile homes are an affordable housing option for families, seniors and young professionals; this is especially true if these are situated in a well-maintained community that offers multiple amenities like swimming pools, walking trails, playgrounds and recreational areas. 

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Sierra Portal Mobile Estates | 2240 Golden Oak Lane | Merced, CA 95341
MANAGED BY: Storz Management Co.