Where can I get a chattel loan?

Chattel loans are offered in person at lending institutions and through online lenders, some of which specialize in a particular type of property, such as mobile homes, aircraft, or construction equipment. How Much Down Payment Is Required for a Chattel Loan?

What is a chattel mortgage?

With a chattel mortgage the lender holds an interest in the property as security/collateral for the loan. This would typically be considered a lien, for example buying a vehicle with using a secured loan. The title is still held by the buyer. However, the lender has a lien on the property that stays until the loan is paid off in full.

What is an example of a chattel loan?

A manufactured or mobile home that rests on wheels or a chassis and can be moved to different locations is a perfect example of chattel. So are vehicles, airplanes, and equipment like tractors and bulldozers. Where a traditional loan or mortgage involves the purchase of real property (land), a chattel loan only deals with movable personal property.