The FHA has a program that lets FHA loan applicants get financing (or refinancing) for the purchase of mobile homes, a developed lot for the mobile home, or the combination of the home and the lot. Like other FHA loan products, the mobile home must be considered the primary residence of the FHA borrower.
FHA Loan Terms for Mobile Homes
The terms of an FHA loan for mobile homes include a fixed interest rate for the entire 20-year term of the loan in most cases. That term can be extended up to 25 years for a loan for a multi-section mobile home and lot. The maximum term is 15 years for a lot-only purchase.
FHA Loan Maximums for Mobile Homes, Mobile Home Lots, and Home-and-Lot Combinations
There are FHA loan maximums for mobile home loans, up to just under $93 thousand for a manufactured home and lot combination. That maximum is subject to revision in areas where costs run high