Also known as a Conventional Mortgage, a Land/Home loan gives homebuyers many advantages in exchange for purchasing a manufactured home and land together. These types of mortgages offer a convenient front-end one-time close, and site improvements can be financed into them. Land/Home Loans don’t require monthly Private Mortgage Insurance (PMI) payments, and you may be able to buy down your interest rate. In addition, no permanent foundation or survey is needed. You may qualify for longer loan terms, and you may be able to finance closing costs and points into your loan, reducing out-of-pocket closing costs to you.