You can typically finance a park model home for 10 to 25 years, with 15- and 20-year terms being the most common. The reason the range stops well short of a traditional 30-year mortgage is classification: park models are built to the ANSI A119.5 recreational vehicle standard, capped at 400 square feet, and financed more like RVs than like houses.1Federal Register. Manufactured Home Procedural and Enforcement Regulations
Why the Term Caps Where It Does
Every park model ships with a manufacturer’s notice stating it was “designed only for recreational use, and not for use as a primary residence or for permanent occupancy.”1Federal Register. Manufactured Home Procedural and Enforcement Regulations That language is the first thing conventional mortgage lenders check, and it’s the reason they walk away. Mortgages are underwritten against property that holds or grows in value over decades. Park models don’t.
Depreciation is the real term limiter behind the classification. Park models lose roughly 15% to 20% of their value in the first year, 10% to 15% annually over the next few years, and 5% to 10% per year after that. A $60,000 unit can be worth $35,000 to $40,000 within five years. If a lender extended 30 years, you’d be underwater within a few years and stay there for most of the loan. Shorter terms force faster principal paydown so the balance tracks the unit’s declining value.
Term Ranges by Loan Type
Because park models sit outside normal mortgage territory, buyers usually choose among three financing paths, and each caps out at a different point.
Chattel loans finance the unit as personal property without involving land. Terms generally run 10 to 20 years, and some lenders stretch to 25 years for newer, higher-priced models. Down payments start around 5%, and rates run higher than conventional mortgages because the collateral depreciates. Chattel rates for park models in 2026 are projected around 5.8% APR, with actual pricing driven by credit score, down payment, and term length.
RV loans are available because the ANSI A119.5 certification makes park models eligible for recreational vehicle financing. Terms typically range from 10 to 20 years, with the longest reserved for loan amounts above $50,000.
Personal loans are the fallback for lower-cost or older units that chattel and RV lenders won’t touch on favorable terms. Terms are much shorter, usually two to seven years, and the interest rate is the highest of the three options.
What About FHA Title I?
FHA Title I is popular for manufactured homes but generally doesn’t apply to park model RVs. Title I covers HUD-code manufactured homes with maximum terms of 20 years for a single-section home or 25 years for a multi-section home with land. Park models fall outside HUD jurisdiction entirely, so this program isn’t a realistic path for most buyers.
What Determines the Term You Actually Get
Lenders don’t hand out 25-year terms to everyone. A handful of factors push your maximum shorter or longer.
Age of the Unit
New models secure the longest available terms because the lender has the full useful life of the unit as collateral. A used model that’s already five or eight years old gives the lender less runway before value drops below the loan balance. Most lenders cap financing on used units at 10 to 12 years, and some won’t finance units older than 15 years at all.
Loan Amount
Smaller balances under $25,000 almost always come with shorter repayment periods. Interest income on a small loan doesn’t justify a 20-year schedule against a depreciating asset. Once the loan crosses $50,000, longer terms open up because the economics work better and a short schedule would force an unreasonably high monthly payment.
Down Payment
Putting more down does two useful things: it lowers your monthly payment, and it can unlock longer repayment terms. A lender who won’t offer 20 years at 5% down may offer it at 15% or 20% down because the loan-to-value ratio gives them a bigger cushion against depreciation. Credit score matters here too. Some lenders accept scores as low as 575; others want 660 or above for their best pricing, and buyers below 600 should expect rates several points higher, if they qualify at all.
Where the Unit Sits
A park model on leased land in an RV resort or campground is personal property, full stop. The lender can only look at the unit’s value as collateral, which keeps terms in the chattel or RV range.
The Land-and-Foundation Exception
In the uncommon scenario where you own the land and permanently affix the unit to a foundation, some jurisdictions allow the property to be retitled as real estate. That reclassification can open the door to longer-term financing, though the ANSI A119.5 certification still makes many conventional lenders hesitant.
The process typically involves removing the wheels and axles, pouring a permanent foundation, and working with your county assessor to reclassify the title. It’s not a quick paperwork change, and whether it produces mortgage-length financing depends on lenders in your area who will look past the RV certification.
Confirm Your Term Fits Your Situation Before You Sign
A long loan term only helps if you can keep the unit somewhere for the length of the loan. Many RV parks and resort communities impose occupancy restrictions limiting how many months per year you can use the unit, and local zoning codes frequently define park models as temporary dwellings unsuitable for year-round residence. Violating those restrictions can bring fines or eviction, which creates a serious problem if you still owe on a unit you can no longer place anywhere.
Before signing, confirm two things: that the park’s rules match how you plan to use the home, and that your lot lease runs at least through the loan’s repayment period. A 20-year loan on a lot leased year to year is a mismatch you’ll feel eventually.
Lot rent itself is part of the real monthly cost most buyers underestimate. Expect $200 to $800 per month on leased land, or more than $1,000 in high-cost areas, on top of the loan payment and insurance. Stretching your term to lower the payment doesn’t help much if the lot rent moves in the other direction.