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How to Finance a Mobile Home in Florida (Even With Bad Credit)

Have you been wistfully dreaming of a mobile home in Florida but don't think your credit is good enough? Don't let that fear rob you of your little piece of paradise! Financing a manufactured home is doable, even if your credit score leaves much to be desired. Here are some helpful tips:

Research Your Credit Situation

You need to understand your credit situation before you speak with any bank or lender. You can get a free credit score analysis and score from Experian, TransUnion, or Equifax. Review the reports carefully for errors and dispute any wrong entries right away. Getting these off your credit score will help improve it.

Find Out the Type of Mobile Home Loan You Need

When it comes to mobile home loans, there is more than one type available:

- FHA loans offer flexibility on the down payment amount. They can be as low as 3.5% with flexible qualification standards. However, the mobile home itself must meet their quality requirements.

- VA loans are available to you if you are a veteran or active-duty military member. VA loans offer advantageous terms and 0% down payment options.

- Chattel loans are for the mobile home only, allowing you to lease the land.

Research Available Lenders

Many lenders advertise their willingness to work with people with below-average credit scores. Local credit unions and banks are generally more likely to work with you in this situation than big banks are.

Owner Financing

Many mobile home sellers are willing to offer you financing directly, meaning you would pay them instead of a lender. It often comes with a higher interest rate, so if you go this route, try to negotiate the lowest rate possible.

Make a Sizeable Down Payment Put as much money as you can toward the down payment to keep your monthly payment at a minimum and the interest you pay lower.

Find a Co-Signer If you have a family member with excellent credit who is willing to co-sign for the loan, you'll be able to get a favorable rate and lower payments. However, this also holds some risk, as loaning money from people you know can often end in strife. Make sure you keep your end of the bargain and make payments promptly.

Pay Down Your Debts Before seeking a loan, pay off any outstanding loans or credit cards. Doing this lowers your debt-to-income ratio and gives the bank less opportunity to deny your request.


With some research, legwork, and financial discipline, you can put yourself in a situation that lenders will favor. It might be challenging for a few months, but it will all be worth it when you're handed the keys to your new mobile home.

Still, Have Questions? We Can Help!

Whether or not you believe it, your bad credit situation is not necessarily a roadblock to your new Florida mobile home. SunBelt Home Sales has helped thousands of buyers navigate their credit situation and successfully secure needed financing. Our expert team has decades of experience and is ready to help you, too!

We work with a network of trusted lenders and can help you find a financing plan that suits your budget and circumstances. Before you know it, you'll wake up in the Sunshine State enjoying the warm breezes. We'll help you do it!

Contact Us

SunBelt Home Sales's dedicated, knowledgeable team is ready to help you get started. Contact us today, and let's begin!


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