Quick FHA Financing Facts if You List a Manufactured Home
It can be tricky to get financing for a manufactured home. It’s nearly impossible to get a conventional loan—so FHA may be the only type of financing out there for those home buyers.
Keep this handy as a resource for your next manufactured housing listing to make sure it can be mortgaged!
- The home must have a floor area of not less than 400 square feet.
- The home must be constructed after June 15, 1976, in conformance with the Federal manufactured home construction and safety standards.
- Each transportable section must have the HUD Seal/HUD Tag located on the outside of the home near the taillight end of the section.
- The home must be classified as real estate.
- The home must be built and remain on a permanent chassis.
- The home cannot be in a flood zone.
- The home must not have been installed or occupied previously at another site or location.
- The home is eligible for a 203K Rehab loan.
- Perimeter enclosures must be constructed of concrete, masonry, or treated wood. Vinyl skirting alone is not acceptable.
- Engineer’s foundation certification is required.
- Additional vacant manufactured housing located on a property being used strictly for storage (kitchen inoperable) may remain if it does not pose any health or safety issues.