How To Finance A Mobile Home In South Carolina: The Top 4 Options

Are you considering purchasing a mobile home in South Carolina? Whether you’re a first-time buyer or looking to downsize, understanding your financing options is crucial. Fortunately, there are several ways to secure financing for a mobile home in South Carolina, especially in the Charleston area. In this blog post, we’ll explore the top four options to help you make an informed decision and provide a list of lenders in Charleston who can assist you.

1. Personal Property Loans (Chattel Loans)

Personal property loans, also known as chattel loans, are one of the most common ways to finance a mobile home. These loans are specifically designed for financing movable personal property, which includes mobile homes not permanently attached to land.


  • Easier to qualify for compared to traditional mortgages.
  • Faster approval process.
  • Flexible terms.


  • Higher interest rates than traditional mortgages.
  • Shorter repayment terms.

2. FHA Title I Loans

The Federal Housing Administration (FHA) offers Title I loans for the purchase of mobile homes. These loans are available to those who plan to use the mobile home as their primary residence and can be used whether or not you own the land.


  • Lower down payment requirements.
  • Fixed interest rates.
  • Can be combined with land purchase or rental.


  • Property must meet certain FHA standards.
  • May require mortgage insurance.

3. Conventional Mortgages

If you own the land where the mobile home will be placed, you might qualify for a conventional mortgage. These loans offer competitive interest rates and longer terms.


  • Lower interest rates compared to personal property loans.
  • Longer repayment terms (up to 30 years).
  • Potential for lower monthly payments.


  • Stricter credit and income requirements.
  • Home must meet specific criteria to be classified as real property.

4. VA Loans

For veterans and active-duty military members, VA loans offer a great way to finance a mobile home. These loans are backed by the U.S. Department of Veterans Affairs and come with several benefits.


  • No down payment required.
  • Competitive interest rates.
  • No private mortgage insurance (PMI).


  • Must meet VA eligibility requirements.
  • Home must meet certain VA standards.

List of Mobile Home Lenders in Charleston, SC

To help you get started, here are some lenders in the Charleston area who specialize in mobile home financing:

  1. Truist Bank
    • Website:
    • Phone: (800) 226-5228
    • Services: Offers various loan products including FHA Title I loans and conventional mortgages.
  2. South State Bank
    • Website:
    • Phone: (800) 277-2175
    • Services: Provides personal property loans, conventional mortgages, and other financing options.
  3. Navy Federal Credit Union
    • Website:
    • Phone: (888) 842-6328
    • Services: Specializes in VA loans and other lending products for military members and their families.
  4. Palmetto First Mortgage
    • Website:
    • Phone: (843) 763-2000
    • Services: Offers a variety of mortgage options including FHA and conventional loans.
  5. Greentree Financial
    • Website:
    • Phone: (888) 235-3137
    • Services: Provides financing for mobile and manufactured homes, including personal property loans.


Financing a mobile home in South Carolina is achievable through various options tailored to different needs and financial situations. Whether you opt for a personal property loan, an FHA Title I loan, a conventional mortgage, or a VA loan, it’s important to explore all your options and choose the one that best fits your circumstances. If you’re in the Charleston area, the lenders listed above can provide the guidance and support you need to make your mobile home ownership dreams a reality.

Ready to take the next step? Contact one of these lenders today to discuss your financing options and start your journey towards owning a mobile home in beautiful South Carolina!

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