Reverse Mortgage For A Manufactured Home
A HECM, the reverse mortgage FHA insures, can be secured by a manufactured home you live in. The home must be built to the federal HUD code, sit on a permanent foundation, be classified as real estate, and meet our program’s double-wide size rule.
Quick answer
Saxton Mortgage does. At least one HECM program we offer accepts a manufactured home built after June 15, 1976, that is permanently affixed to an FHA-approved foundation, with an engineering certification, on land you own. The home must be a double wide at least 12 feet wide with at least 600 square feet of gross living area, so single-wide homes do not qualify.
What the home has to meet
FHA’s rules for a manufactured home, plus our reverse mortgage program’s size rule.
- Built on or after June 15, 1976, to the Federal Manufactured Home Construction and Safety Standards.
- Has its HUD Certification Label, or a letter of label verification issued on behalf of HUD.
- Our program’s rule: the home must be a double-wide, at least 12 feet wide, with at least 600 square feet of gross living area.
- Moved directly from the factory or dealer to the site where it sits now. A home moved after it was first placed does not qualify.
- Sits on a permanent foundation built to HUD’s Permanent Foundations Guide for Manufactured Housing, certified by a licensed engineer or architect.
- Built on a permanent chassis that stays in place, with the towing hitch and running gear removed.
Built to the federal code
Labeled by HUD
Double-wide and 12 feet wide
Never moved after setup
On a permanent foundation
Hitch and wheels removed
Manufactured Home HECM Basics
It is a HECM, the reverse mortgage FHA insures, secured by a manufactured home that is your principal residence and meets FHA’s property rules.
FHA lists manufactured housing as an eligible HECM property type, and our reverse mortgage program accepts manufactured homes. FHA requires the home to be designed as a one-family dwelling, built on or after June 15, 1976, to the federal construction and safety standards, and to carry its HUD Certification Label. Homes produced before that date cannot get FHA-insured financing. Our program adds a size rule: the home must be a double-wide at least 12 feet wide with at least 600 square feet of gross living area, so a single-wide home does not qualify.
The home must sit on a permanent foundation built to HUD’s Permanent Foundations Guide for Manufactured Housing, and an engineer or architect licensed in your state must certify it. A certification from an earlier FHA-insured loan may be used if there are no alterations or observable damage to the foundation since then. The space under the home must be enclosed by a continuous wall secured to the home, with ventilation for the crawl space.
The home must be classified as real estate, although it does not have to be taxed as real estate. At closing, title must show the home and land are classified as real estate. If the home once had a separate chattel title, the state or local rules for purging that title must be met before the loan is insured. For age, counseling and the other borrower rules, see our reverse mortgage requirements page.
Why choose Saxton for a manufactured home HECM
This page is for owners of manufactured homes who are 62 and older, and the adult children helping them weigh a reverse mortgage.
Look For The HUD Label
The HUD label, also called a HUD seal or HUD tag, is a two inch by four inch aluminum plate at one end of each section of the home. If it is missing, the lender gets label verification from the Institute for Building Technology and Safety (IBTS).
Find The Data Plate
The data plate is a label fixed inside the home, typically next to the electric panel, in the utility room or in a kitchen cabinet. The appraiser reports its details, including the date of manufacture.
Additions Need Sign-Off
If the home has additions or alterations the foundation certification does not cover, the lender needs an inspection by the state agency that inspects manufactured homes, or a licensed structural engineer’s certification if the state does not employ inspectors.
Flood Zones Have Rules
If any part of the home is in a special flood hazard area, it qualifies only with a FEMA letter removing it from the zone, or an elevation certificate showing the ground under the home is at or above the 100-year flood level plus flood insurance.
Personal Property Tax Is Fine
The home does not have to be taxed as real estate. If it is taxed as personal property, the lender documents that tax, but does not have to verify your payment history on it.
Insurance And Taxes Stay Yours
You must keep all improvements on the property insured against hazards, including fire and flood where required, and you remain responsible for property taxes and other property charges.
Hear From Homeowners Like You
Frequently Asked Questions
Plain answers for manufactured home owners thinking about a reverse mortgage.
Saxton Mortgage does. At least one HECM program we offer accepts a manufactured home built after June 15, 1976, that is permanently affixed to an FHA-approved foundation, with an engineering certification, on land you own. The home must be a double wide at least 12 feet wide with at least 600 square feet of gross living area, so single-wide homes do not qualify.
Yes, if the home meets FHA’s rules and our program’s size rule. Manufactured housing is an eligible HECM property type, and the home must be your principal residence. At closing, title must show the home and land are classified as real estate.
Not with our reverse mortgage program. Our program requires a double-wide home at least 12 feet wide with at least 600 square feet of gross living area.
It does not qualify. FHA requires the home to have been moved directly from the factory or dealer to the site where it sits now. A home that was relocated after it was first placed cannot be used.
If the appraisal shows the label is missing, the lender must get label verification from the Institute for Building Technology and Safety (IBTS). A letter of label verification issued on behalf of HUD can take the place of the label.
No. It must be classified as real estate, but it does not have to be taxed as real estate. If it is taxed as personal property, the lender documents the current year’s tax.
Yes. A HECM for Purchase can be used to buy a manufactured home as one unit, or one unit with an accessory dwelling unit, that you will live in as your principal residence. The home still has to meet every rule on this page.
The appraiser checks the HUD label and the data plate and, in most cases, must include at least two manufactured home sales as comparables. Our program uses the manufactured home appraisal form, Form 1004C.
Find out what you qualify for
Tell us about your home, when and how it was set up, and what you want the money to do, and we will check how it fits our program.
Get Pre-Qualified- U.S. Department of Housing and Urban Development, FHA and housing resources
- U.S. Department of Housing and Urban Development, FHA mortgage insurance premiums
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.