Chattel loans can offer a fast and flexible way to finance personal property like mobile homes, but they’re not without drawbacks. On the positive side, they require less paperwork, have quicker approvals, and work well for homes placed on leased land. However, they often come with higher interest rates, limited lender options, and fewer refinancing opportunities. This article explores all the pros and cons of chattel loan financing so you can make a confident decision based on your financial priorities and future goals. Choosing the right financing is critical to homeownership success.