What is the down payment requirement in manufactured home financing?

In manufactured home financing, the down payment requirement is typically structured as an initial payment that is a percentage of the total purchase price. This upfront payment is crucial as it reduces the amount that needs to be financed, demonstrates the buyer's commitment to the purchase, and provides a safety net for lenders, minimizing their risk.

This initial payment can vary based on financing options, lender policies, and buyer qualifications, but it is generally not the full purchase price, nor is it an unspecified fee. Additionally, while there are some financing options that may allow for no down payment, they are not the standard and often depend on specific circumstances. Therefore, the notion that the down payment is often a percentage of the purchase price aligns with the common practices in the manufactured home industry.