MANUFACTURED HOME manufactured home loan


Getting a home loan for a manufactured home should not cost you a lot of money and your interest rate should be low! 

It all starts with the right mortgage loan officer and the right mortgage lender! 

Let me start with this; in the mortgage industry it is either a manufactured home or a modular home and there is a huge difference between the a mortgage lender.

A manufactured home is for the most part a double wide home that came in two pieces and was assembled by connecting the two pieces. Most mortgage lenders do not lend on single wide homes, but we will on double wide and larger.

A modular home is a home that came in multiple pieces from a factory and assembled piece by piece. A modular home is actually considered like a 'stick built' home by all mortgage programs. Many times a home is listed by a real estate agent as a modular home but is in reality a manufactured home.

If you have any doubts or you want to double check if you house is modular or manufactured contact me and I will help.

Moving forward I will use the term manufactured home. To be considered for a mortgage all manufactured homes must be real estate. To know for sure find out how the house is taxed. Is it taxed as personal property or real estate? If it is taxed as real estate then you can get a mortgage, low interest rates, and longer terms or years.

FHA, VA, USDA, and Conventional mortgage programs all allow for the purchase and/or refinance of manufactured home. For the most part the rules are pretty much the same for each mortgage program. As a borrower your ability to be approved for a mortgage does not change because you are refinancing or purchasing a manufactured home.

If you can be approved for an FHA Mortgage, VA Mortgage, USDA Mortgage, or either of the Conventional Mortgage programs then the fact your are purchasing a manufactured home will not change that approval!

Purchasing an existing manufactured home with any mortgage program has several factors that are the same from one program to the next.
  • The Manufactured Home must be real estate
  • The home must be permanently affixed to a foundation
  • The HUD tags must be attached or found for all sections of the home
  • The home must have been built after September 1976
  • The home must be on the original site or be new off the lot
  • A Structural Engineers report is required on all purchases (not refinances)

Note: USDA will not allow you to purchase a manufactured home that has already been moved to a site, it must be bought from a deal and then moved to a site.

FHA, USDA, VA, and Conventional either allow for or have programs for purchasing a brand new manufactured home off a dealer lot, include the cost of the land, and the cost of placing the home on the land. This would include but is not limited to, delivery, clearing the land, the drive way, building a foundation, septic, well, bringing public utilities to the home, landscaping, and more. 

There really isn't much more I can provide you other than to say, not all mortgage lenders want to or will provide a mortgage for a manufactured home. I have been a mortgage lender since the mid-1990s and I have closed many manufactured home purchases and refinances.

Personally, I am licensed in several states but I mostly work in the State of Missouri, we have branches in St. Louis MO, Kansas City Mo, Springfield MO, Columbia Mo, Cape Girardeau MO, and Branson MO. Contact me or fill out the form below if you are needing help with getting a mortgage or home loan for your manufactured or modular home and I will help or direct you to someone in your state.

Getting a mortgage for a manufacture home doesn't need to be difficult or costly, you just need to have the right people working for you. If you want to learn more about qualifying for a FHA Mortgage, VA Mortgage, or USDA Mortgage click on the links and find out more.




Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

New American Funding 12321 Olive Blvd, ste 150
St. Louis, MO 63141