Chattel loan
A loan secured by a manufactured home as personal property rather than by real estate; common when the home sits on land the owner does not own.
Published May 31, 2026
A chattel loan is a loan secured by a manufactured home as personal property — "chattel" is an old word for movable property — rather than by real property. It is common when a home sits on a rented lot or on land the homeowner does not own, because there is no real estate to mortgage.
With a chattel loan, the lender's security interest is typically recorded against the home's certificate of title, much as an auto lender's lien appears on a car title. Chattel loans often have shorter terms and different interest rates than a traditional mortgage, which can affect the total cost of borrowing.
A chattel loan is not permanent in every case. If a home is later permanently affixed to land the owner owns and the title is retired through title retirement, the financing generally shifts: the home becomes part of the real estate and is secured by a mortgage or deed of trust rather than as titled personal property.
Federal consumer-finance laws can apply to these loans. This is general information, not legal or financial advice.