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Rocket Enters the Manufactured Home Market

Steve Goode
Nov 03, 2022
Rocket Mortgage New Logo

Manufactured homes had $12 billion in sales last year, company officials say.

Rocket Mortgage now offers home loans and refinancing options for Americans interested in buying or refinancing a manufactured home.

Manufactured homes are built at indoor homebuilding facilities in accordance with the U.S. Department of Housing and Urban Development (HUD)'s Manufactured Home Standards. The homes are then delivered to the property where the owner will live in it. Once the home arrives on site and is placed on a permanent foundation, it becomes real property and can be financed through a mortgage.

“After revolutionizing the home loan experience for traditional site-built homes, we are proud to bring the technology and expert guidance Rocket is known for to those who are purchasing manufactured homes,” said Bob Walters, CEO of Rocket Mortgage. “It’s our hope that, through this new option, more Americans can realize their dream of homeownership.”

Manufactured homes offer a cost effective choice for homebuyers, as evidenced by a recent report from the Manufactured Housing Institute showing such homes are about a third of the cost, on average, of a site-built home. The Institute also reported that 22 million Americans live in manufactured homes and that this building type accounts for 9% of new home construction.

“In the past year, there was roughly $12 billion in sales of manufactured homes," Walters said. "These are clients with great income, credit scores, and who are very creditworthy. We are looking forward to helping them achieve homeownership.”

Rocket Mortgage’s new manufactured home financing can be used to buy a primary residence with as little as 5% down or a second home with at least 10% down. Cash-out refinances are also available on a primary residence, and rate-and-term refinances are available on either a primary or second home. Other credit, asset, income, and debt requirements are consistent with conventional loan guidelines.

Clients are able to use Rocket Mortgage’s digital mortgage experience to apply for a loan and go through the process, with mortgage experts available to advise and guide them along the way. They can also apply through any mortgage broker who partners with Rocket.

Rocket Mortgage has announced a number of new offerings in the past few months.

In July, it introduced Rate Drop Advantage – an innovative program that waives many of the costs to refinance if a client buys a home now and refinances within three years. 

In August, Rocket Mortgage introduced a home equity loan – providing a new option to combat rising consumer debt. The company most recently launched Inflation Buster, lowering a homebuyers’ interest rate by 1 percentage point on most loans for the first year, completely free.

Homebuyers can go to to learn more and apply for a home loan. Mortgage brokers can learn about the program at or they can talk to their account executive.

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