What is Considered a Manufactured Home?
A manufactured home is a home that is built in a factory to specific standards, transported in multiple sections, and eventually permanently affixed to a foundation on a property.
What Type of Financing is Available for Manufactured Homes?
Manufactured Homes are eligible for Conventional loans, in addition to FHA, and VA financing: however, there are eligibility requirements for a manufactured home.
What is an Eligible Manufactured Home?
Eligible Criteria must include all of the following:
- Double Wide (20 feet wide minimum)
- Single Family Dwelling, 1 Unit properties.
- Fee Simple Estate, classified as “Real Property”.
- Permanently affixed to a Foundation on the subject property.
- Permanently connected to Municipal Utilities (Power, Water, Gas) and Sewage System or Septic tank.
- Property must not be located in a Flood Zone.
