Quick FHA Financing Facts if You List a Manufactured Home

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!

  1. The home must have a floor area of not less than 400 square feet.
  2.  The home must be constructed after June 15, 1976, in conformance with the Federal manufactured home construction and safety standards.
  3.  Each transportable section must have the HUD Seal/HUD Tag located on the outside of the home near the taillight end of the section.
  4.  The home must be classified as real estate.
  5.  The home must be built and remain on a permanent chassis.
  6.  The home cannot be in a flood zone.
  7.  The home must not have been installed or occupied previously at another site or location.
  8.  The home is eligible for a 203K Rehab loan.
  9.  Perimeter enclosures must be constructed of concrete, masonry, or treated wood. Vinyl skirting alone is not acceptable.
  10.  Engineer’s foundation certification is required.
  11.  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.