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Welcome Home Loans - Financing for Manufactured Homes

Cooperative Federal's Welcome Home Loans are a special product for residents and buyers of manufactured homes in Champion Homes, a Resident Owned Community in Elbridge, NY, and in Kayadeross Acres, a Resident Owned Community in Ballston Spa, NY.*

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Benefits of a Welcome Home Loan

Depending on your credit history and current financial situation,

  • You might be able to purchase a home, even if you don’t have a 20% down payment.
  • You might be able to do home repairs and upgrades, including energy efficiency improvements that can reduce your utility bills.
  • If you are refinancing your home, you might be able to save thousands of dollars in interest charges.
  • Your home might sell faster because we can offer your buyer fair, fixed-rate, long-term financing.

Plus, you can take advantage of the other programs and services that Cooperative Federal offers, such as credit and housing counseling, auto and personal loans, credit builder loans, accounts and more.

Who Qualifies

To be eligible for a Welcome Home Loan,

  • The home must be located in Champion Homes or Kayadeross Acres
  • The borrower must be able to afford the loan payments
  • The borrower must have a satisfactory credit history, although no minimum credit score is required. 

These loans are available through a partnership between Cooperative Federal and ROC USA,* a non-profit organization that helps manufactured home (also known as mobile home) communities become cooperatives -- owned and controlled by the people who live there. These cooperatives are known as Resident Owned Communities (ROCs).  

If you live in a ROC other than Champion Homes, contact us to see whether we can bring Welcome Home Loans to your community. 

Loan Terms

  • Purchase loans can be made with as little as 5% down, including up to 3% in gifts or other sources (such as seller contributions). That means the down payment contribution from the buyer’s funds can be as little as 2%.
  • For refinances, the loan amount is determined by the home’s appraised value and your ability to repay.
  • The interest rate is fixed at 7.75% APR.**
  • The loan’s length can be from 5 to 20 years.
  • Escrow for homeowners insurance is required.

Apply Now

Ready to get started? Apply online now. If you have any questions, contact the Personal Loans Department or reach out to Meagan, Communications Manager, at 315-473-0206.

*Cooperative Federal is not responsible for content on outside websites.

**APR is the Annual Percentage Rate. Applications are subject to credit approval and other eligibility criteria.

All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice. Contact us for current rates, terms and conditions.