
February 23, 2022
FHA Manufactured Home Loans: Questions And Answers
FHA home loan options include loans for manufactured housing, modular homes, and what some still refer to as “mobile homes”. FHA home loan rules for manufactured housing include age and foundation requirements as well as minimum sizes. If you aren’t sure how to proceed when trying to apply for a manufactured home loan, here are some common questions asked about these types of FHA mortgages. Are FHA Manufactured Home Loans The Same As FHA 203(b) Mortgages? Not exactly. The FHA loan program allows the purchase of a modular home or a manufactured home that is not on a permanent foundation at the time of creation. The manufactured home must be placed on a permanent foundation as a condition of loan approval and the timing of this must be agreeable to | more...