Manufactured Home Loans with Loan Fox Inc.

While other lenders have pulled out of the manufactured housing market, Loan Fox is standing by the manufactured home community by continuing to offer FHA Manufactured/Modular home financing.

Today, Loan Fox Wholesale offers our Manufactured/Modular Housing lending in our Premium and Standard programs. Our financing programs offer manufactured/modular home loans for clients with FICO's as low as 580 scores with a variety of programs

  • FHA Standard – For existing manufactured homes already affixed, min score of 580 to get to 96.5% 500 to get to 90% Purchase only
  • FHA One Time Close Construction - land home package Min 660 score
  • VA – 580 minimum for up to 100% financing, existing homes already affixed to land only
  • USDA- New homes out of the dealership only, no interim financing - dealer must be willing to place home on land and wait for payment.

Property Eligibility for all programs:

Modular homes are built off site in one piece and are treated the same as on site built homes. 

A manufactured home is a structure that is transportable in one or more sections, and is designed and constructed to the Federal Manufactured Construction and Safety Standards and is so labeled. To be eligible for FHA/VA/USDA mortgage insurance, all manufactured homes must comply with the following:

  • A floor area of not less than 400 square feet.
  • Be constructed after June 15, 1976, in conformance with the Federal Manufactured Home Construction and Safety Standards, as evidenced by an affixed certification label in accordance with 24 CFR 3280.11 (manufactured homes produced prior to that date or ineligible for insured financing).
  • Be classified as real estate (but not be treated as real estate for purposes of state taxation) Must have HUD tags or ITBS Report to verify HUD numbers.
  • The mortgage must cover both the manufactured unit and its site and shall have a term of not more than 30 years from the date amortization begins.
  • Built and remains on a permanent chassis.
  • Designed to be used as a dwelling with a permanent foundation built to FHA criteria, and the finished grade elevation beneath the manufactured home or, if a basement is used, the grade beneath the basement floor shall be at or above the 100-year return frequency flood elevation.

Property Eligibility for all programs:

Modular homes are built off site in one piece and are treated the same as on site built homes. 

A manufactured home is a structure that is transportable in one or more sections, and is designed and constructed to the Federal Manufactured Construction and Safety Standards and is so labeled. To be eligible for FHA/VA/USDA mortgage insurance, all manufactured homes must comply with the following:

  • A floor area of not less than 400 square feet.
  • Be constructed after June 15, 1976, in conformance with the Federal Manufactured Home Construction and Safety Standards, as evidenced by an affixed certification label in accordance with 24 CFR 3280.11 (manufactured homes produced prior to that date or ineligible for insured financing).
  • Be classified as real estate (but not be treated as real estate for purposes of state taxation) Must have HUD tags or ITBS Report to verify HUD numbers.
  • The mortgage must cover both the manufactured unit and its site and shall have a term of not more than 30 years from the date amortization begins.
  • Built and remains on a permanent chassis.
  • Designed to be used as a dwelling with a permanent foundation built to FHA criteria, and the finished grade elevation beneath the manufactured home or, if a basement is used, the grade beneath the basement floor shall be at or above the 100-year return frequency flood elevation.

Speak to a loan officer today about manufactured home loans. Click here to find a branch near you.