A chattel loan, otherwise known as a chattel mortgage, is a form of secured property loan that applies only to movable assets. The Real Property Department records documents pertaining to real property or real estate in Harris County.A convertible mortgage starts as an adjustable rate then allows the homeowner to convert to a fixed rate after 3 years. Click for details on this option. Obtain a home loan through a lender. A properly-worded sub2 deed expressly states that the buyer will not be assuming responsibility for any debts or liens against the property. The purpose of HAF was to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of homeowners. A chattel mortgage is a loan used to purchase an item of movable personal property, such as a vehicle, which then serves as security for the loan. Builder is offering 14K in closing costs. Where Can Borrowers Get a Chattel Loan?