Market insights
What the data says about manufactured home communities, lending and ownership.
Lenders › Merchants Bank, National Association
Merchants Bank, National Association
2025 manufactured home lending from public HMDA data. Provider profile
Loans originated (2025)
25
+25.0% vs 2024Originations
$20.8M
Loans x average loanAverage loan
$833,000
Average interest rate
6.53%
Denial rate
10%
Home only share
32%
Year over year
| Year | Applications | Loans | Originations | Avg loan | Avg rate | Denial rate | Home only |
|---|---|---|---|---|---|---|---|
| 2025 | 31 | 25 | $20.8M | $833,000 | 6.53% | 10% | 32% |
| 2024 | 30 | 20 | $3.7M | $186,000 | 6.72% | 20% | 5% |
Lending by state (2025)
| State | Loans | Originations | Avg loan | Avg rate | Denial rate | Home only |
|---|---|---|---|---|---|---|
| MN | 15 | $2.5M | $168,333 | 6.48% | 11% | 33% |
| WI | 9 | $18.1M | $2,012,778 | 6.58% | 0% | 33% |
| ND | 1 | $185,000 | $185,000 | 6.9% | 50% | 0% |
Data source: Home Mortgage Disclosure Act (HMDA). Public annual data from the FFIEC and CFPB, loans reported with a manufactured home construction method. Informational only, not a recommendation of any lender.