Manufactured Housing Loans
Tax assessor – check to see if land went from Vacant to improve the same year as home’s year built?
Confirmation that home was moved brand new from Dealer to current land is required – used homes are not eligible for financing if moved more than the very 1st time.
HUD TAGS/Data Plate
Locate HUD data plate – 8 ½ X 11 paper with 3 maps of the United States with MH zoning and year, make and model listed. If this is not present on the home, must order replacement from IBTS.ORG
HUD tag – Metal plate approximately 3”X4” on outside of MH – if this is not able to be located, must order replacement from IBTS.ORG
Flood Zones / Structural Engineer’s Certificate
Special restrictions placed on Manufactured homes in flood zones, please investigate and notify loan officer ASAP if home is in a flood zone. We will need elevation certificate ASAP if in flood zone.
Structural Engineer’s Certificate
Required for approval – must be passing and considered Compliant of PFGMH guidelines of 1996. Can be ordered from www.haymanengineering.com cost of $375-$625
Drain fields for well/septic – make sure land survey proves distances between well, septic and drain fields due to minimum distances required for financing eligibility.
USDA and INVESTMENT
USDA LOAN – home can be no more than 1 year old at the execution of the purchase contract
Conventional single wide – cannot be more than 10 years old at the time of loan funding
NO INVESTMENT PROPERTY MANUFACTURED HOMES