FHA Manufactured Home Loans. A Real Home, On A Real Foundation.

Saxton Mortgage does. We offer FHA financing on manufactured homes built after June 15, 1976, including manufactured condos, and at least one program we offer accepts both single-wide and multi-wide homes. On at least one program, the appraisal includes photos of the HUD Data Plate inside the home and the HUD Certification Label on the outside. If the data plate cannot be obtained, at least one program accepts an IBTS report instead.

It has to be attached to a permanent foundation, and legally classified as real property under your state’s law. The towing hitch, wheels, and axles must be removed, and the foundation must meet the federal Permanent Foundation Guide for Manufactured Housing.

Purchase and refinancing without cash out start at a 620 credit score. Cash out refinancing starts at 640.*

No, and the difference matters. A home still titled as personal property is financed with a chattel loan, which is a different and usually more expensive product. This is a real estate mortgage, available once the home has been permanently affixed and retitled as real property.

Yes, in one specific way. The home has to have been built after June 15, 1976, the date the federal HUD construction and safety standards took effect. A home built before that date cannot be financed with an FHA loan no matter how well it has been kept. Past that cutoff, age affects the appraisal rather than your eligibility, and a manufactured home more than a year old does not require the additional cost approach that a newly set home does.*

No. This program is for owner occupied homes only.*

Yes. There is no maximum on combined financing when the second lien is provided by a government entity, which is how most down payment assistance programs are structured.

On this program each borrower must have at least one credit score to be eligible. That is a stricter requirement than standard FHA financing, where non-traditional credit can sometimes be used instead.

No, and the difference decides which program you are in. A manufactured home is built to the federal HUD construction and safety standards and carries a HUD certification label. A modular home is built in sections in a factory but assembled on site to the same state and local building code as a site built house, so it carries no HUD label and is not manufactured housing. A modular home is financed as a site built home rather than under the rules described on this page.*

Yes. An FHA loan for a manufactured home works like FHA financing on any other house once the home meets the property rules: it was built after June 15, 1976 to the federal HUD construction and safety standards, it sits on a permanent foundation with the towing hitch, wheels and axles removed, and it is titled as real property rather than as a vehicle. You have to live in the home, and purchase qualifying starts at a 620 credit score. If the home is still titled as personal property it has to be retitled first, and we can walk you through that step.*

Yes, on at least one program we offer, which accepts single-wide and multi-wide homes. Another program takes multi-width homes only, with at least 700 square feet. FHA requires at least 400 square feet of living area. Beyond size, the foundation has to be certified by an engineer as meeting the federal permanent foundation standard, the finished grade under the home has to sit at or above the 100-year flood elevation, and the HUD certification label and data plate both have to be present on the home. The land can be owned outright, and a leasehold may be considered subject to approval of the lease terms.*