Capital Home Mortgage Chattanooga

Chattanooga Manufactured Home Loans

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Chattanooga Manufactured Home lender

If you are considering purchasing a manufactured home in Chattanooga, working with a lender who understands the unique aspects of this type of housing is essential. Capital Home Mortgage Chattanooga is a leading provider of financing solutions for manufactured homes, offering highly competitive mortgage rates tailored specifically for Chattanooga’s manufactured home buyers. While manufactured homes present several advantages over traditional housing, they come with distinct characteristics that require careful consideration to make informed decisions.

The first critical step in the process is understanding the various types of manufactured housing available and the corresponding financing options for each. It is important to distinguish between different categories of manufactured homes and understand the specific features of mobile homes in the Chattanooga area. Whether your interest lies in traditional manufactured home financing or chattel financing—a loan secured by the house but not the land—Capital Home Mortgage Chattanooga is equipped to help you navigate the complexities of each option.

After identifying the type of manufactured home that best meets your needs, the next decision involves purchasing an existing home or embarking on a new build. An existing manufactured home offers the advantage of being move-in ready, which can reduce the waiting time and the overall cost, as all necessary setup and improvements are typically already completed. On the other hand, opting for a new build allows you to customize your home’s style, type, and location to suit your preferences. However, this choice may require additional time and incur extra setup costs. Regardless of your decision, Capital Home Mortgage Chattanooga has the expertise to guide you through the entire process, ensuring a smooth and successful experience.

To learn more about how we can assist you in financing your manufactured home in Chattanooga, contact us today at (615) 549-5666 to speak with one of our knowledgeable Manufactured Home Loan Specialists. We are here to provide the support and guidance you need to make the best possible choice.

Chattanooga Manufactured Home Mortgage LoanS

Manufactured housing, often referred to as mobile homes or trailers, is a vital component of Chattanooga’s housing landscape. These homes are typically more cost effective than traditional stick-built houses, making them an attractive option for individuals and families with constrained budgets. The affordability of manufactured homes is particularly significant in Chattanooga’s rural and economically diverse areas, where access to traditional housing may be limited.

In rural regions of Chattanooga, manufactured homes serve as a practical solution, providing essential housing in areas where conventional construction might not be feasible due to geographic or economic constraints. Chattanooga’s robust manufactured housing industry supports a wide range of economic activities, with numerous manufacturers and retailers operating within the state. This industry fulfills the housing needs of many residents and contributes to the local economy by generating employment opportunities and supporting related sectors, such as transportation and installation services.

The prevalence of manufactured homes in Chattanooga underscores their importance in meeting diverse populations’ housing needs while bolstering the local economy.

The manufactured housing industry in Chattanooga plays a significant role in the local housing market, particularly for individuals and families seeking affordable living options. This industry is characterized by producing and selling factory-built homes, commonly known as mobile homes or trailers, which are often more budget-friendly than traditional site-built houses.

Manufactured homes are especially prevalent in Chattanooga’s rural and economically diverse areas. They offer a practical solution to housing needs in regions where conventional housing construction may be limited by geographic or economic factors. Their affordability makes them a popular choice for those with lower incomes, providing a viable alternative to more expensive housing options.

Chattanooga’s manufactured housing sector is supported by a network of manufacturers and retailers within the region. It contributes to the local economy through job creation and economic activity in related industries, such as transportation, installation, and maintenance services. The industry’s presence helps sustain employment in the area and supports a range of ancillary businesses, reinforcing its importance to Chattanooga’s overall economic landscape.

Chattanooga’s manufactured housing industry is a crucial part of the city’s housing infrastructure. It addresses the needs of a diverse population and plays a vital role in the local economy.

Chattanooga Manufactured Homes Explained
Chattanooga mobile Homes
Before 1976, mobile homes were mass-produced in response to the desire for inexpensive, movable housing, but building criteria were not regulated.  Beginning in the early 1900s, people needed to relocate to wherever work was available to support their families, and thus the mobile house was born. The design of these earliest mobile homes resembled that of a modern camper or trailer, with an exposed trailer coupler and wheels that made the house easily moveable.  Typically, the residence was constructed on steel I-beams that ran end-to-end and could be installed on concrete blocks, wooden blocks, metal supports, or a concrete foundation at the chosen site.  Although the term “mobile home” is still popular outside the federal government, HUD guidelines established June 15, 1976 have classified all mobile, factory-built housing types as manufactured.  The department details the energy, wind, and snow requirements for this type of dwelling. Financing for true Mobile Homes is problematic due to their age and no construction guidelines.  In most cases cash is the only option for these purchases.

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Chattanooga Manufactured Home Loans

A Manufactured Home is a residential structure built off-site in a factory setting, then transported to its permanent location and placed on a foundation.  Modern manufactured houses can be quite sophisticated in design and can offer amenities similar to site-built homes.  They can be single-wide, double-wide, or even larger, and they’re constructed using materials and techniques that meet stringent quality standards.  Manufactured Homes are built on steel chassis which offer a quicker construction and cost advantages.  A wide variety of Financing is offered for Manufactured Homes, but the individual options depend on the home itself as well as the placement.  If you are looking to purchase and place the home in mobile home park then a home only chattel loan is the loan required unless the park also conveys the land at which time you can look at other options.
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Chattanooga Modular Home Loans

Modular Homes are a type of prefabricated construction where sections of the house, known as modules, are built  off-site in. a factory and then moved to the building site and assembled. Even though the modulars of the house were made ahead of time, the components, or modules, are put together during construction just like in a regular house.  In fact the primary distinction between manufactured and modular homes is that modular homes are built following all applicable state and local building requirements, while manufactured homes are constructed per the national HUD code.  Advantages of modular homes are: cost effectiveness, speed of construction, quality control, and customization. Financing for Modular Homes has the same options as manufactured homes with the exception of Chattel home only for park financing, as Modular Homes are not designed to be moved once completed and assembled.
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Chattanooga BARNDOMINIUM Home Loans

Barndominium homes are a unique housing concept that combines elements of barns or agricultural buildings with those of a traditional home.  These structures often feature metal or steel frames, offering durability and a distinctive appearance.  Barndominiums typically incorporate open floor plans, high ceilings, and expansive spaces that allow for versatile interior designs.  They’ve gained popularity for their customizable nature, cost-effectiveness, and the ability to blend rustic aesthetics with modern living comforts.  Many homeowners find them appealing due to their potential for customization and often more affordable construction costs compared to conventional homes.  Would you like more specific information or details about barndominiums? Barndominium Financing follows traditional mortgage lending, but the loan must be supported by comparables for the local area.
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Chattanooga Existing Manufactured Home Loans

  • Purchase in a Planned Community
  • Purchase on Land / Acreage
  • Real Property or Chattel Ok
  • Variety of  Loan Programs to Choose From

Chattanooga One Time Construction Manufactured Home Loans

  • Purchase the Home and Land Together
  • Include the Utilities and Home Setup
  • Lock Rate at Contract
  • Variety of Loan Programs to Choose From

Chattanooga Manufactured Home Financing

Manufactured Home Financing is separated into two categories:  Real Property and Chattel.  It’s important to understand the difference in real property verse chattel as this has an impact on the type of financing available and the resale ability of the home in the future.  Real property is when the home is titled and encumbered with the land.  This type of loan is eligible for all government financing and is a traditional mortgage with lower rates and lowers down payments.  Chattel means that the home is not considered real estate and is not tied to the land in any capacity.  This type of loan typically has a larger down payment, shorter terms and higher rates.  The other factors that determine what type of loan is required is the borrowers credit score, debt to income and down payment.

Chattanooga Chattel Manufactured Home Financing

Chattanooga True Home Only

This loan is for purchasing or refinancing a home only and can be used for a manufactured home.  The minimum credit score for the is loan is 550 with a minimum down payment of 20% of borrowers own funds.  The lowest down payment is 5% of borrowers own funds with a minimum credit score of 575.  The maximum loan term is 25 years.
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Chattanooga Land in Lieu

This loan is for purchasing or refinancing a home on land that is owned free and clear.  It can be used for a manufactured or modular home.  The minimum credit score for the is loan is 550 with 20% down payment being land equity.  The equity required is only 10% with a 600 plus score.  The loan term is either 20, 25 or 30 years.
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Chattanooga Land & Home

This loan is for purchasing or refinancing a home being on land that has a current lien or in combination with purchasing the land.  It can be used for both a manufactured and modular homes.  The minimum credit score for the is loan is 550 with the 20% down payment being either land equity or borrowers own funds.  The minimum down payment is 5% with a 575 or higher credit score.  The loan term is either 20, 25 or 30 years.
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Chattanooga TRaditional Manufactured Home Financing

Chattanooga Manufactured FHA Home Loans

This is a HUD loan and can be used for purchasing or refinancing an existing home or as a one time close construction loan for purchase a new home with existing or new land.   This loan requires the home to be real property and a has a maximum term of  30 years.  The minimum down payment is 3.5% with a 580 plus credit score, 10% down payment with a credit score 500-579.  The one time close construction (OTC) requires a minimum credit score of 620.
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Chattanooga Manufactured VA Home Loans

This is a Veterans Administration backed loan and can be used for purchasing or refinancing an existing home or as a one time close construction loan for purchase a new home with existing or new land.   This loan requires the home to be real property and a has a maximum term of  30 years.  This loan is 100% loan with no minimum down payment and a minimum credit score of 580.  The one time close construction (OTC) requires a minimum credit score of 620.
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Chattanooga Manufactured USDA Home Loans

This is a Department of Agriculture backed loan and can be used for purchasing of an existing home or as a one time close construction loan for purchase a new home with existing or new land.   This loan requires the home to be real property and a has a maximum term of  30 years.  This loan is 100% loan with no minimum down payment and a minimum credit score of 640. This loan is subject to income limits and geographical location.  Manufactured homes must be new.
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Chattanooga Manufactured Native american Home Loans

This is also a HUD loan and can be used for purchasing or refinancing an existing home or as a one time close construction loan for purchase a new home with existing or new land.   This loan requires the home to be real property and a has a maximum term of  30 years.  The minimum down payment is 2.25% and does not have a minimum credit score requirement, but does require one of the borrower to a registered Native American with a nationally recognized tribe.  The one time close construction (OTC) requires a minimum credit score of 620.
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Chattanooga Manufactured Conventional Home Loans

This is Fannie Mae / Freddie Mac backed loan and can be used for purchasing or refinancing an existing home . The minimum down payment is typically 5% and the credit score for an existing home is 620.  For the OTC the loan requires the home to be real property and a has a maximum term of  30 years.  The minimum down payment is 5% and has a minimum credit score requirement of 700.
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Why chattanooga is Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Chattanooga Mortgage Company Reviews

Chattanooga Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Amanda Ravallo

Sr Loan Officer
NMLS #1702894
Chattanooga Mortgage Programs

Chattanooga Purchase loans

Looking to Purchase a Chattanooga Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
  • Primary, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Chattanooga Renovation Home Loans

Looking to Rehab a Chattanooga Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Chattanooga FHA Home loans

Great 1st Time Chattanooga Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.
  • Smaller Down Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

Chattanooga va Home Loans

100% Financing for Chattanooga Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Chattanooga Conventional loans

Flexibility for Chattanooga Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
  • Primary, 2nd Home, Investment
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Terms
  • Renovation Programs Available

Chattanooga Jumbo Home Loans

Chattanooga Non-Confirming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

Chattanooga USDA Home loans

100% Chattanooga Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Chattanooga Native american Loans

Chattanooga Hud 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.
  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase, Refinance, and Renovation

Chattanooga Manufactured loans

Great Chattanooga Alternative Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Chattanooga Reverse Mortgages

Your Chattanooga Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Chattanooga Non QM Home loans

Making Chattanooga Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

Chattanooga Construction Loans

Build Your Chattanooga Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.
  • Primary Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Chattanooga Refinance Mortgages

Chattanooga Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Chattanooga Cashout Mortgages

Chattanooga Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Dream Vacation
  • Higher Education

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