Manufactured Homes

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.

Depending on your eligibility and credit history, you may be able to:

  • Purchase a home, even if you don’t have a 20% down payment
  • Do home repairs and upgrades, including energy efficiency improvements
  • Save thousands of dollars in interest charges if you refinance your home
  • Sell your home faster because we can offer your buyer fair, fixed-rate, long-term financing

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 that are owned and controlled by their residents. These cooperatives are known as Resident Owned Communities (ROCs).

  • 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 loan’s length can be from 5 to 20 years.
  • Escrow for homeowners insurance is required.

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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.