# What will my mobile home loan cost?

Computes the monthly payment, total interest, payoff date, and full payment schedule of a fixed-rate loan for the mobile home.

- Page: https://www.acalculator.org/finance/mobile-home-loan-calculator
- JSON spec: https://www.acalculator.org/finance/mobile-home-loan-calculator.json
- Version: b3a4b101077b

## Default answer

Example with the default inputs (Price of the mobile home $90,000.00, Cash down $9,000.00, Trade-in value $0.00, Interest rate (APR) 8.5%, Loan start date October 5, 2026, Length of loan (months) 240, Sales tax rate 0%, Fees, setup and delivery $0.00, Roll tax and fees into the loan Yes, Extra each month $0.00) on the example date Monday, October 5, 2026: Borrowing $81,000.00 at 8.5% APR over 240 months costs $702.94 a month, with $87,704.84 of interest in total.

## Inputs

| Key | Label | Description |
| --- | --- | --- |
| price | Price of the mobile home | The price of the mobile home before tax and fees. |
| down | Cash down | The cash you pay up front, which lowers the amount you borrow. |
| trade | Trade-in value | What the dealer pays for your current vehicle. It lowers the amount you borrow and the taxed price. |
| rate | Interest rate (APR) | The yearly interest rate of the loan. The monthly rate is this divided by 12. |
| start | Loan start date | The day the loan starts. The first payment is one month later. Leave it empty to number the payments without dates. |
| term | Length of loan (months) | The number of monthly payments, from 1 to 360. |
| tax | Sales tax rate | The sales tax rate, charged on the price minus the trade-in value. |
| fees | Fees, setup and delivery | Fees and add-ons charged on top of the price, for example documentation and registration. |
| taxin | Roll tax and fees into the loan | When on, the sales tax and fees are borrowed. When off, you pay them up front. |
| extra | Extra each month | An extra amount paid with every payment. It goes straight to the balance. |

## Outputs

| Key | Label | Description |
| --- | --- | --- |
| payment | Your monthly payment | The level monthly payment that repays the loan over its length, without extra payments. |
| payments | Number of payments | How many monthly payments it takes to repay the loan, with any extra payments. |
| payoff | Paid off in | The month of the last payment, when a start date is given. |
| each | You pay each month | The monthly payment plus any extra amount. The last payment is whatever is left, so it can be smaller. |
| span | Payments last | How many months of payments it takes to repay the loan, with any extra payments. |
| amount | Loan | The amount borrowed: price minus cash down and trade-in, plus tax and fees when rolled in. |
| interest | Interest | All the interest paid over the life of the loan. |
| paid | Total you’ll repay | The amount borrowed plus all the interest. |
| upfront | Paid up front | Cash down, plus the sales tax and fees when they are not rolled into the loan. |
| cost | What the mobile home really costs | The price plus sales tax, fees, and all the interest. |
| saved | Interest saved by paying extra | The interest the extra monthly amount saves, compared with no extra payments. |
| sooner | Months saved by paying extra | How many months sooner the loan is paid off with the extra monthly amount. |

## Method

payment = L × r ÷ (1 − (1 + r)^−n), with L the amount borrowed, r the APR ÷ 12, and n the number of months; each month, interest = balance × r and the rest of the payment lowers the balance.

## Assumptions

- The rate is fixed for the whole loan and interest is charged monthly at APR ÷ 12.
- Payments are made at the end of each month, starting one month after the start date.
- Sales tax is charged on the price minus the trade-in value, as most US states do.
- Extra payments go straight to the balance; the last payment is whatever is left.
- Values are not rounded to the cent between months; only the display is rounded.

## Worked examples

1. price = $90,000.00, down = $9,000.00, trade = $0.00, rate = 8.5%, term = 240, start = 2026-10-01 gives amount = $81,000.00, payment = $702.94, interest = $87,704.84, payoff = 2046-10-01. Source: Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/ (retrieved 2026-10-05).
2. price = $120,000.00, down = $6,000.00, trade = $0.00, rate = 9.25%, term = 300, start = 2026-10-01 gives amount = $114,000.00, payment = $976.28, interest = $178,882.59. Source: Consumer Financial Protection Bureau, Manufactured Housing Finance: New Insights from the Home Mortgage Disclosure Act (chattel loans are secured by the home only; mortgage loans by the home and land), https://www.consumerfinance.gov/data-research/research-reports/manufactured-housing-finance-new-insights-hmda/ (retrieved 2026-10-05).
3. price = $60,000.00, down = $0.00, trade = $0.00, rate = 0%, term = 120, start = 2026-10-01 gives payment = $500.00, interest = $0.00, paid = $60,000.00. Source: Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/ (retrieved 2026-10-05).

## FAQ

### How is a mobile home loan payment worked out?

It is a level monthly payment: payment = L × r ÷ (1 − (1 + r)^−n), where L is the amount borrowed, r is the APR ÷ 12 and n is the number of months. $81,000 at 8.5% over 20 years is $702.94 a month.

### What is a chattel loan?

A loan secured by the manufactured home only, not the land under it. The CFPB reports that chattel loans often cost more than mortgages and carry fewer consumer protections. A loan on the home and the land together is a mortgage.

### Why are mobile home loan rates often higher?

The CFPB found chattel loan rates can be 0.5 to 5 percentage points above loans on real property. Compare offers and type the APR you are quoted; the calculator uses no live rates.

### How long can a mobile home loan be?

Terms vary by lender and loan type, often 15 to 25 years for a home-only loan and up to 30 years for a home and land mortgage. The calculator takes 1 to 360 months.

### Do setup and delivery count in the loan?

Add them as fees. With "Roll tax and fees into the loan" on they are borrowed; with it off they are paid up front.

### Does the calculator include lot rent, taxes or insurance?

No. It shows the loan payment only. Add lot rent, property tax and insurance to find your full monthly housing cost.

## Sources

- Consumer Financial Protection Bureau, Manufactured Housing Finance: New Insights from the Home Mortgage Disclosure Act. https://www.consumerfinance.gov/data-research/research-reports/manufactured-housing-finance-new-insights-hmda/ (retrieved 2026-10-05)
- U.S. Department of Housing and Urban Development, Financing Manufactured Homes (Title I). https://www.hud.gov/hud-partners/single-family-finance-manuf (retrieved 2026-10-05)
- Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/ (retrieved 2026-10-05)