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Mobile Home
Mortgage Loans 

Capital To Empower Homeownership

Capital for Change manages a variety of programs to help prospective homeowners purchase new homes. Eligibility requirements are determined by our funding partners and may be restricted to targeted groups or communities. 

Our Mortgage Programs

||| CHFA Mobile Home Mortgage

Qualifying For The Loan
This program is for qualifying applicants purchasing a mobile home located in a state-licensed mobile home park within Connecticut. This is an income-targeted program, with income limits for the program set by the Connecticut Housing Finance Authority (CHFA). Thirty-year fixed-rate term financing at a low-interest rate can be secured with a minimum down payment of 20%. These loans are not eligible for down payment assistance. Good credit history is also required.

Application Requirements 
Applicant must be within program income limit (determined by town and household size)

  • Must intend to occupy the property year-round

  • Prior homeowners are eligible, but may not own any other residential or commercial property at the time of purchase

  • Must have 20% down payment from an eligible source

  • Must attend homebuyer education course prior to purchase

Loans Key Loan Features 

  • Low interest rate

  • 30-year fixed-rate term

  • Low closing costs

  • No application fee

  • No prepayment penalty

  • No mortgage insurance required

  • Taxes, insurance, and park rent are all escrowed

||| CHFA Mobile Home Refinance Mortgage

Qualifying For Our Refinance Option
This program is for qualifying owners of a mobile home located in a state-licensed mobile home park within Connecticut. This is an income-targeted program, with income limits for the program set by the Connecticut Housing Finance Authority (CHFA). The program is designed to assist homeowners with higher interest rates refinance into a more affordable rate. Good credit history is required.

Application Requirements 
Applicant must be within program income limit (determined by town and household size)

  • The home must be located in a state-licensed mobile home park

  • Applicant must be a year-round resident of the home

  • Applicant must have owned the property for at least 12 months and made at least 12 consecutive on-time mortgage payments

  • The applicant may not own any other residential or commercial property

  • Applicant must be within program income limit (determined by town and household size)

  • Applicants existing loan must have an interest rate of 6.00% or higher and a remaining term of at least 5 years

  • Must have a minimum of 20% equity in the home (Loan may not exceed 80% of the home value)

Loans Key Loan Features 

  • Low interest rate

  • 20-year fixed-rate term

  • Low closing costs

  • No application fee

  • No prepayment penalty

  • No mortgage insurance required

  • No cash out

  • Taxes, insurance, and park rent are all escrowed

For questions about the application process, please email lending@capitalforchange.org or call (855) 656-5500.