Manufactured Home Loan
Financed using FHA, VA, or Conventional Loan
Manufactured homes are constructed in a manufacturing facility according to HUD guidelines. They are titled like a vehicle until placed on permanent foundation, at which point the title is surrendered to the State and the unit is converted to Real Estate. A manufactured homes has a steel beam going through the center of the unit where wheels, axles & hitch were attached (the hitch, wheels, and axles must be removed for mortgage financing). Can be financed under the following conditions:
- Constructed after 1978
- Taxed as real estate by Auditor (MH as real estate)
- Interior HUD label – confirms year, make, model, manufacturer and serial number of unit.
- Exterior HUD labels – provide HUD serial numbers
- Structural Certification – licensed structural engineer to confirm unit attached to permanent foundation according to code
- Must not have been previously installed or occupied at any other site or location, except from the manufacturer or dealer’s lot as a new unit
FAQ
What’s the Difference Between Modular and Manufactured Homes?
Modular and manufactured homes are both prefabricated (prefab) homes. The construction occurs in a factory and not where the house will ultimately be. The primary difference between the two types is that modular homes are pieced together on-site, while manufactured homes arrive on-site completely built.
Once the pieces (modules) of a modular home are transported to the home site, they must be assembled on a foundation. The modular home must be assembled on owned land. Modular homes will be permanently on the site, just as a conventional home is.
Manufactured homes, by contrast, are built in the factory on a chassis. Once transported to a site, it can be placed on a foundation or not. Manufactured homes can be moved later; the site is not permanent. The land can be either owned or rented.
You Have Options
Loan Products
First Time Home
Conventional Loan
FHA Program
Bridge Loan
Trade-In Mortgage™
Grant Programs
VA Loan
USDA Loan
Self-Employed Loan
DSCR Loan
Refinance Loan
Manufactures Homes
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