Manufactured Home Loans

Some traditional mortgage loans are available for a manufactured or modular home, but financing options may differ from traditional home lending for manufactured housing.

The FHA offers loans for those who own land and for those who plan to lease the place where the manufactured home will be located. The FHA does not directly loan money to borrowers purchasing manufactured homes. Instead, loans are offered through approved lenders.

You may be eligible for a USDA loan (by the U.S. Department of Agriculture) for a manufactured home, but it comes with more strict regulations.

VA loans (by the Department of Veterans Affairs) are  available for manufactured homes that will be attached to a permanent foundation on land that is already owned by the borrower or can be financed in a VA loan.

The obvious for FHA & VA

  • Scores 500 and above (under 580 requires 10% down)
  • Single, Double and Triple wide
  • Built after 6/15/1976
  • Minimum square feet 400
  • Permanently affixed to the property and taxed as real property
  • Tie-Downs
  • Foundation Survey
  • VA allows twice moved homes

The unexpected for FHA & VA with scores above 580

  • FHA 203K Rehabs
  • FHA 1.5% down wit ha 2% grant
  • Bank statement programs - case by case (Call us for details)