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do FHA loans allow buying of land and putting up of manufactured home ?

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March 25 2009 - Bellevue
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Answers (6)

Normally this would require to get a specialized construction loan, then permanent financing after construction is complete with a FHA loan. I have a one-time close FHA loan that can get it done in one process. These are the requirements you need to know below. Please feel free to reach me with more questions. 

Manufactured Home Property Requirements 

1. The borrower must own the land on which the manufactured home is situated in fee simple;

2. The manufactured home must be a one-unit dwelling unit that is legally classified as real property;

3. The towing hitch, wheels, and axles must be removed;

4. The manufactured home must have sufficient square footage and room dimensions to be acceptable to typical purchasers in the subject market area;

5. The manufactured home must be at least 12 feet wide and have a minimum of 600 square feet of gross living area;

6. Site preparation for delivery of the manufactured home must be completed;

7. The manufactured home must be attached to a permanent foundation system in accordance with the manufacturer's requirements for anchoring, support, stability, and maintenance. The foundation system must be appropriate for the soil conditions for the site and meet local and state codes.

8. The manufactured home must be permanently connected to a septic tank or sewerage system, and to other utilities in accordance with local and state requirements;

9. There must be adequate vehicular access and there must be an adequate and legally enforceable agreement for vehicular access and maintenance;

10. The manufactured home must be built in accordance with:

11. The Federal Manufacture Home Construction and Safety Standards that were established in

a. The Federal Manufacture Home Construction and Safety Standards that were established in June 15, 1976 as amended and in force at the time the home is manufactured

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1 day ago
Keep in mind parcels available where zoning and covenants allow a manufactured home typically do not have utilities run to the point of placement on site.  Most are rural requiring you to install a septic tank and drain field due to the absence of sewer.  As previously mentioned, it is a construction loan for this reason, so budget for these improvements along with the cost of the structure beyond delivery and set up coupled with land cost.  My assumption the attraction to FHA is the 3.5% down payment with an interest rate around 5%.  I doubt you will find construction financing for the type of package described without a larger down payment and higher interest rate.  Have you ever explored a resale, stick built on site home that might need some work?  There are some rehab programs out there where the terms and down payment are probably more affordable and likely a better long term investment. 
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April 02 2010
Keep in mind that the manufactured home can't be occupied on a previous site per FHA guidelines. It must be a new manufactured home at the time of placement.
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March 22 2010
Yes you can purchase a doublewide built after 1976 land home package. We do them all the time. Check out this link for more FHA manufactured home info in Florida. http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml

Hope that helps
Thomas Martin
http://fhamortgagefhaloan.com/
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March 07 2010
To buy land and install a manufactured home, you need to obtain a custom construction loan.  There are a couple of local banks that specialize in this.  Notably Golf Savings&First Mutual.  Don't bother with Bank of America or a large national bank.  They simply aren't set up for this type of project. 

Putting manufactured homes on land is one of my specialties.  Feel free to contact me if you have any questions about the process.  I've been through it several times.
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April 12 2009

The purose of the FHA is to put people into housing so they will allow this in reverse of your question.  You can buy the home to put on land, but I don't believe you can buy just the land.  More importantly the manufactured home must have a HUD sticker which allows the financing you are talking about.  I would check with a lender in your area to confirm this or you could investigate hud.gov to find out more.  Good luck.

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March 26 2009
 
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