A reader asks, “Can a modular home on a full foundation be considered for an FHA loan?”
In general the FHA offers two types of home loans for manufactured housing. Here’s a quote from a frequently asked questions list on the FHA official site at FHA.gov:
Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are – or will be – located in mobile home parks.”
FHA loan rules do have provisions for modular homes (which are also considered factory-built houses); in some cases they are treated the same as “stick-built housing”. As the reader question implies, one of the most important issues with modular or manufactured homes is the foundation.
Specifically, FHA loan rules state:
“All foundation systems, new and existing, must meet the FHA