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MANUFACTURED LOAN

For current rates on the following loan programs, please contact your local office today!

FHA manufactured home (mobile home/trailer) loans represent a popular option for home buyers who currently have the ability to repay a mortgage and are general in rural or suburban areas. FHA loan products also carry lower down payment requirements.

Qualifying for a FHA Modular or Manufactured Home Loan

To qualify for a FHA modular or manufactured home loan, you must make a small down payment. As with any loan, you must prove you have enough income to afford the payments. The debt to income ratio required for approval can vary based on a number of factors including past credit history, how much of the total income is dedicated to housing, residual income calculations, and other factors.

Rules for FHA Manufactured Home Loans

Because FHA manufactured home loans are insured by the FHA, there are certain rules and requirements that must be met. These include but are not limited to:

  • The home must be built after June 15, 1976
  • The HUD label must be affixed to each section
  • Minimum size to be financed is 400 square feet
  • The home must be permanently affixed to a foundation that meets FHA standards
  • The home must meet the Model Manufactured Home Installation Standards
  • The lot where the manufactured home will be set must be designated or approved
  • The home must be used as primary residence
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