🎯 Quick Manufactured Home Loan Summary
Loan Options
- FHA Title I: 5.5% - 8.5%
- FHA Title II: 6.0% - 8.0%
- VA loans: 5.8% - 7.5%
- Conventional: 6.5% - 9.0%
Requirements
- Credit score: 580+ (FHA)
- Down payment: 3.5% - 10%
- Built after June 15, 1976
- Permanent foundation required
💡 Ready to finance your manufactured home?
What is a Manufactured Home Mortgage Loan?
A manufactured home mortgage loan is specialized financing for homes built in factories according to HUD (Housing and Urban Development) standards and transported to permanent sites. These homes offer an affordable path to homeownership, typically costing 10-20% less than site-built homes.
Manufactured homes built after June 15, 1976, must comply with federal construction standards and can qualify for various loan programs including FHA, VA, and conventional mortgages when they meet specific requirements.
🏠 Manufactured Home Cost Comparison
| Home Type | Average Cost per Sq Ft | 1,500 Sq Ft Home | Potential Savings |
|---|---|---|---|
| Site-Built Home | $150 - $200 | $225,000 - $300,000 | - |
| Manufactured Home | $80 - $120 | $120,000 - $180,000 | $45,000 - $120,000 |
Types of Manufactured Home Loans
FHA Title I Loans
- Purpose: Finance manufactured home only (not land)
- Down Payment: 5% minimum
- Loan Limits: Up to $92,904 for single-wide, $107,384 for multi-wide
- Terms: Up to 20 years for home only, 25 years for home and lot
- Land Requirement: Can be used for homes on leased land
Best for: First-time buyers with limited down payment funds
FHA Title II Loans
- Purpose: Finance manufactured home and land as real property
- Down Payment: 3.5% minimum
- Loan Limits: Same as FHA limits for site-built homes (up to $766,550)
- Terms: Up to 30 years
- Requirements: Home must be permanently affixed to owned land
Best for: Buyers purchasing home and land together
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Home Requirements
✅ Must Have
- Built after June 15, 1976
- HUD certification label
- Permanent foundation
- Minimum 400 square feet
- Classified as real property
- Connected to utilities
❌ Disqualifiers
- Built before June 15, 1976
- On wheels or temporary foundation
- In mobile home parks (some loans)
- Classified as personal property
- Below 400 square feet
- Significant structural damage
Frequently Asked Questions
What is a manufactured home mortgage loan?
A manufactured home mortgage loan is financing specifically designed for homes built in factories and transported to permanent foundations. These loans can be conventional mortgages, FHA loans, or VA loans, depending on whether the home meets specific requirements and is classified as real property.
What's the difference between a manufactured home and a mobile home?
Manufactured homes are built after June 15, 1976, and must meet HUD construction standards. Mobile homes were built before 1976 and don't meet current HUD codes. Manufactured homes are generally easier to finance and may qualify for traditional mortgage loans.
Can I get an FHA loan for a manufactured home?
Yes, FHA offers Title I and Title II loans for manufactured homes. Title I loans can finance the home only, while Title II loans require the home to be permanently affixed to land you own and classified as real property.
What are the requirements for manufactured home financing?
Requirements typically include: credit score of 580+ (FHA) or 620+ (conventional), the home must be built after 1976, permanently affixed to a foundation, classified as real property, minimum 400 square feet, and meet local building codes.
Are manufactured home loan rates higher than traditional mortgages?
Manufactured home loan rates are typically 0.25% to 1.0% higher than traditional mortgage rates due to perceived higher risk. However, FHA and VA loans for manufactured homes often offer competitive rates similar to site-built homes.
🏠 Start Your Manufactured Home Journey Today!
Ready to achieve affordable homeownership with a manufactured home? Get pre-approved and start your search today!
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