Mobile Homes

Ready to get started? Contact our team at (207) 897-0900, and we’ll discuss your options and how to apply for the right mobile home loan.

At OTIS, we can help you purchase or refinance a new or used mobile home at a rate that is affordable for you. Achieve your dream of homeownership with us today!

Mobile homes must be located within the state of Maine. Terms and conditions are based on credit score and the amount being financed.

New Mobile Homes

  • OTIS will finance up to 80% of the purchase price with proof of 20% down payment on the purchase of a NEW mobile home.
  • New mobile home loans may be financed for up to 15 years, depending on the qualifications of the borrower.

New Mobile Home Rates

Rates effective 1/22/2024
Loan TermAnnual Percentage RateSample Payments per $10,000 borrowed
1-5 years as low as7.80% APR*$201.78 for 60 months
6-10 years as low as8.95% APR*$126.40 for 120 months
11-15 years as low as11.35% APR*$115.88 for 180 months

An appraisal may be required at a cost of $400. Additional fees include a flood determination as well as a possible title search and recording of the deed. The estimated total charges may amount to approximately $1,000.

*(APR) Annual Percentage Rate. Above Mobile Home Loan Rates are subject to change without notice. No finance charge fees apply.

Used Mobile Homes

  • Appraisals are required on purchases of used mobile homes. The maximum loan amount is 80% of purchase price or 80% of appraised value (whichever is less).
  • Used mobile homes may be financed for up to 10 years, depending on the amount of the loan, the appraisal, and the qualifications of the borrower.

Used Mobile Home Rates

Rates effective 1/22/2024
Loan TermAnnual Percentage RateSample Payments per $10,000 borrowed
1-5 years as low as7.80% APR*$201.78 for 60 months
6-10 years as low as8.95% APR*$126.40 for 120 months

An appraisal may be required at a cost of $400. Additional fees include a flood determination as well as a possible title search and recording of the deed. The estimated total charges may amount to approximately $1,000.

*(APR) Annual Percentage Rate. Above Mobile Home Loan Rates are subject to change without notice. No finance charge fees apply.

Member-Owned and Occupied Mobile Homes

  • 80% of appraised value on appraisals less than 1 year old
  • 60% of appraised value on appraisals 1-5 years old
  • 50% of appraised value on appraisals 5 years or older or tax values

Used Mobile Home Rates

Rates effective 1/22/2024
Loan TermAnnual Percentage RateSample Payments per $10,000 borrowed
1-5 years as low as7.80% APR*$201.78 for 60 months
6-10 years as low as8.95% APR*$126.40 for 120 months

An appraisal may be required at a cost of $400. Additional fees include a flood determination as well as a possible title search and recording of the deed. The estimated total charges may amount to approximately $1,000.

*(APR) Annual Percentage Rate. Above Mobile Home Loan Rates are subject to change without notice. No finance charge fees may apply.

How can OTIS work for you?

If you live, work, worship, or attend school in Franklin County, Canton, Fayette, Hartford, Leeds, Livermore, Livermore Falls, Mount Vernon, Readfield, Turner, Vienna, or Wayne, you’re eligible to be part of OTIS FCU – and we’d love to have you join our community.