Homes at our communities are sold by Tributary Homes LLC, and financing a manufactured home works a little differently from a traditional mortgage. Knowing the basics before you apply makes the whole process faster and less stressful.
Chattel loans vs. traditional mortgages
Because you own the home and lease the lot, most buyers use a chattel (home-only) loan rather than a real-estate mortgage. These loans are designed for manufactured homes, often close faster, and are built around home-only ownership.
Working with a lender
We work with national lenders who specialize in manufactured homes. When you apply for financing, mention Tributary Homes LLC and the community you are interested in — it helps the lender line everything up correctly. Your community manager can make an introduction.
How to prepare
Have your income and employment details ready, know your budget for a monthly home payment plus lot rent, and check your credit in advance. From there it is a short application, and financing partners are available if you are buying.