MaineStream Finance

Article Title: Not Your 1970s Mobile Home Anymore – MaineStream Launches a Manufactured Home Loan Product

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An affordable and livable alternative to the housing affordability crisis

MaineStream Finance would often have clients come through our doors asking if we could finance manufactured housing/ mobile homes. Because of our funding source requirements, we always had to say no. There were enough clients and partners asking that we investigated whether we should create a specific product and funding source to finance manufactured housing. Manufactured Housing (fka mobile homes) has greatly improved
over the years with extensive oversight by HUD at the manufacturing facility and now often retain their value like stickbuilt homes, as long as general maintenance is kept. Manufactured homes can often cost less than $100,000, which is often a maximum price point that low income clients have that they can afford. Right now throughout Maine, there is a lack of supply of homes for sale and very high demand – and many low income homebuyers are being priced out of owning their own home despite rates being historically low.

MaineStream Finance believes manufactured homes can be a good alternative for an affordable and livable home for low income families. and we have now launched a new manufactured home/mobile home loan! Some highlights of our new manufactured home loan product are:

  • Our loans can finance manufactured homes on owned land or in residentowned-communities (ROCs).
  • Can be up to 30 years for full maturity.
  • Our rates are typically much lower than some of the major, national lenders with rates that can well exceed 10%.
  • Much lower down payments and closing costs requirements as well.
  • No minimum credit score – we will work with clients on issues to address.

Give our loan officer, Roberta Teeto, a shout if you know someone who might be interested in this new type of home and financing at and visit the new Manufactured Home Loan page!

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