FHA Rules for Manufactured / Mobile Homes
FHA loans offer low down payment options and less than perfect credit scores to qualify for a mortgage. The FHA guidelines for both mobile homes and manufactured homes have loan limits plus foundation and appraisal rules that must be followed.
FHA eligible manufactured homes must be occupied as a primary residence and must have been built after June 15, 1976 on a permanent foundation. These homes are regulated under the rules known as Federal Manufactured Construction and Safety Standards and must be labeled accordingly. Each home must be classified as real estate and must have a HUD certification label attached.
The unit must have been built to the
manufactured housing construction safety standards as
evidenced by having a small, red metallic label attached to
it. Any unit without this label is unacceptable. If it has
been removed, it cannot be reattached to make it acceptable
for FHA insurance.
Manufactured homes are often sold and transported in sections to be assembled on-site. According to FHA rules, a manufactured home differs from a new construction project because of the nature of its assembly. New construction homes are built "on-site."
FHA defines a manufactured home as "a structure that is transportable in one or more sections. In traveling mode, the home is eight feet or more in width and forty feet or more in length."
To be eligible for FHA financing and for the lender to obtain FHA mortgage insurance, the manufactured home must meet the stated criteria and the floor space cannot be smaller than 400 square feet.
The FHA minimum down payment is 3.5% up to the maximum FHA lending limit for your county.
Reach out to get pre-approved or if you have any questions!
CMG Financial
8337 W. Sunset Road, Suite 300
Las Vegas, NV 89113
Office (702) 777-1306
Get Pre-Approved: www.iLendLasVegas.com
Aundrea Beach-Greco
Mortgage Advisor, CMPS
NMLS 333739
(702) 326-7866
info@aundreabeach.com
www.AundreaBeach.com
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