Question:

What is possible with HUD manufactured (mobile) home financing?

Answer:

It is possible to obtain manufactured (mobile) home financing with HUD/FHA loan under the HUD Title 1 program. FHA approved lenders lend money to eligible homebuyers, and FHA will insure the lender against borrower default.

HUD financing for mobile homes are usually fixed rate loans and rates and terms depend on client credit history and ability to repay the loan.

What can you buy with HUD manufactured (mobile) home mortgages?

With FHA loan for mobile homes you could get the home, or the lot to place it, or the lot and the manufactured home in combination.

FHA loan limits for manufactured homes and/or lots are as follow:

  • Manufactured home plus lot - $64,800
  • Home only - $48,600
  • Home lot only - $16,200

FHA mobile home and lot loan limits can be increased with up to 85% in high-cost areas. Your local HUD office will supply more information on local FHA manufactured home and land loans.

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