Your Financing Options

The most common financing methods families use for purchasing Cavco West homes are conventional home mortgages and chattel mortgages.

With a conventional mortgage, the home is financed and purchased as real property, which means that the home and the land are bought and/or financed together. There will be a deed with a conventional loan. These loans are offered at competitive rates, and it pays to shop around for the best deal. Land/home packages can often qualify for this kind of financing.

Similar to a car loan, chattel mortgages are personal property loans. They are used when only the home is financed. Unlike a conventional mortgage, there will be a title instead of a deed. If you are buying a home that will be on leased property, a chattel mortgage may be the only financing available. This type of financing is common in planned communities, where the buyer doesn't own the land.

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