The lender must obtain the PFGMH certification prior to funding but may use an existing certification if the home was previously financed with an FHA insured mortgage. The inspector will issue a PFGMH Certification. If you plan on using FHA insured financing for your manufactured home, you will need to secure a foundation inspection from an engineer before the FHA loan can be approved. Loan limit for both the land and the home is a maximum of $92,904įHA Manufactured Home Foundation Requirements.Loan limit for the home only is a maximum of 69,678.Loan limit for the land only is a maximum of $23,226.The maximum loan amount for a manufactured home will differ depending upon whether you are buying the land, just the home, or both the land and the home together. You may want to consider a 15-year FHA loan or even an adjustable rate program depending upon your long term needs. The FHA loan term cannot exceed 30 years. The home must have both a water supply and sewer system that are FHA approved.If new, the home must have a one-year warranty from the manufacturer.The home must be on a permanent foundation and considered a permanent dwelling.The floor space cannot be less than 400 square feet.The home must be a single-family dwelling.The home must adhere to the Manufactured Home Installation Standards.There must be a red HUD certification label attached to each section of the modular or manufactured home and must be visible even after siding and/or painting is completed.The home must have been built after June 15 th, 1976. Since the home is not built on site, it is considered a manufactured home (or modular home) and will be treated differently.įHA Eligible Manufactured Homes Must Meet the Following Criteria: Checking your own scores here will NOT impact your credit scores in any way.Ī typical manufactured home is built in a factory and then transported to the job site where it is placed on the foundation. Please be prepared with your most recent credit scores for your discussion with a loan officer. In addition to these standard requirements, there are specific requirements for both manufactured homes and mobile homes outlined below. Read our full article on FHA loan requirements for an in-depth view of what to expect when applying for an FHA loan. The debt to income ratio cannot exceed 43%.The borrower must have a 2-year work history with steady income.Mortgage Insurance Premium (MIP) is required for every FHA loan.Minimum down payment requirement of 3.5%.Minimum FICO score requirement of 500 – down payment will vary.The following FHA requirements are in place for all homes regardless as to whether you are purchasing a standard home, a mobile home or a manufactured home. In this article, we will cover both the FHA manufactured home guidelines, FHA mobile home guidelines and the foundation and appraisal requirements. In fact, if you have been reading about these mortgages online, it may not be clear whether the article is referring to a manufactured home or a mobile home. The FHA guidelines treat manufactured homes and mobile homes virtually the same with just a few differences. The home must meet the Manufactured Home Construction and Safety Standards (MHCSS) and have a HUD Certification Label. They are to be used a single-family residence, must be connected to utilities and include electrical, a water supply, waste systems, heating and possibly cooling. The FHA defines manufactured housing as structured that are transportable in one or more sections. Each home must be classified as real estate and must have a HUD certification label attached.Ĭlick to Find an FHA Lender for a Mobile or Manufactured Home FHA Definition for Manufactured and Mobile Homes The FHA guidelines for both mobile homes and manufactured homes have loan limits plus foundation and appraisal rules that must be followed.įHA eligible manufactured homes must be occupied as a primary residence and must have been built after Jon a permanent foundation. FHA loans help those with a low down payment and less than optimal credit scores to qualify for a mortgage.
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