Your Ultimate Realtor Guide!
What are manufactured homes? These affordable homes are created in a factory and transported right to the desired location, offering a range of advantages for buyers and sellers alike. With lower costs, simplified maintenance, and endless location options, these homes are changing the game for the modern homeowner. But it’s crucial to note that they must meet specific building and safety standards set by the Department of Housing and Urban Development (HUD). So, are you ready to tap into the potential of manufactured homes? See some important guidelines below to help you get started!
General and Loan-Specific Guidelines:
General:
- The home must be on a permanent foundation and cannot be moved after being purchased as a new home.
- The home must have gone through the legal process of being converted to real property.
- The title must be surrendered to the state, and the home title deactivated. (This can be done post-closing, but the title must be available for the title company to complete the process post-closing.)
| What is a permanent foundation? Axles removed, piers securely in place and secured against I-beams of the mobile home, and tie downs securely in place. The masonry block form the piers. |
Loan-Specific:
- USDA requires homes to be newer and built no later than January 1, 2006.
- VA Loans may allow the home to be moved after being purchased as a new home.
- Conventional, FHA, VA, and USDA loans allow for singe-wide homes.
- Minimum for single wide: 400 square feet
- Minimum for double wide for VA: 700 square feet
- All FHA loans and homes with additions and/or porches/decks require a foundation inspection from an engineer.
- For FHA and USDA loans, if the perimeter enclosure is non-load bearing skirting comprised of lightweight material, the entire surface area of the skirting must be permanently attached to backing made of concrete, masonry, treated wood, or a product with similar strength and durability.