Manufactured Home Refinance
Land Owned
Manufactured Home Refinance – Land Owned
When you own both your manufactured home and the land beneath it, refinancing may offer additional flexibility and longer-term options compared to park-based homes.
At Compadre Mortgage, we help land-owned manufactured home owners understand refinance options clearly and responsibly—without confusion or pressure.
What Is a Land-Owned Manufactured Home?
A land-owned manufactured home means:
You own the home
You own the land
There is no space rent or park lease
These homes are often located in rural areas, established neighborhoods, or long-held family properties throughout California.
Why Homeowners Refinance Land-Owned Homes
A land-owned manufactured home means:
You own the home
You own the land
There is no space rent or park lease
These homes are often located in rural areas, established neighborhoods, or long-held family properties throughout California.
Renovation Lending
The FHA 203K is a primary government insured mortgage that allows you to bundle the purchase (or refinance) and renovation costs into a single mortgage. It is available for manufactured homes built after June 15, 1976, that meet strict HUD safety and construction. codes. Borrowers can use the Limited 203(k) for smaller projects up to $75,000 or the Standard 203(k) for major structural repairs.
The Fannie Mae HomeStyle Renovation loan offers a conventional alternative, permitting any type of permanent renovation or repair. However, it imposes a specific cap for manufactured housing: renovation funds cannot exceed the lesser of $50,000 or 50% of the property’s “as-completed” appraised value.
Land Equity and Refinancing
When refinancing a land-owned manufactured home, land equity may be considered as part of the loan review.
This can be especially helpful for:
Long-time homeowners
Retirees with low remaining balances
Homeowners with high equity
Each refinance scenario is reviewed carefully to determine what options make sense.
Cash Out Refinance
Cash out refinance may be an option for many home owners. Typical limits are 85% LTV FHA and 65% LTV.
We currently do not offer a manufactured home line of of credit (HELOC).
Homes That May Qualify
Land-owned manufactured homes may be eligible when they:
Are built to HUD standards (pemanent foundation.)
Are properly titled
Are in livable condition
Meet appraisal and zoning requirements
Every property is reviewed individually—no blanket assumptions.
A Calm, Straightforward Refinance Process
Our refinance approach is designed to:
Reduce delays
Communicate clearly
Avoid unnecessary steps
Keep expectations realistic
We work at a pace that respects your comfort and timeline.
Frequently Asked Questions
How to Get Started
You can start by:
Applying online for a refinance review
Discussing your current loan and goals
Asking questions before making any decisions
We’re here to help you understand your options.
What is a 433
“433” refers to California Department of Housing and Community Development Form 433A, officially called:
Notice of Installation on a Foundation System
This form certifies that:
The home is permanently installed
It’s on an engineered, HUD-approved foundation
The wheels, axles, and hitch are removed
The home is tied to the land
Once recorded, the manufactured home and land become one legal piece of real estate.
Senior FAQ
Does owning my land fee simple make refinancing easier?
In many cases, owning the land can provide additional flexibility when refinancing a manufactured home. There are many land owned manufactured home communities where the HOA uses condominum ownership. The HOA must be approved for lending by Fannie Mae and/or HUD for purchase and refinance lending. Each situation is reviewed individually to determine the most appropriate loan structure.