FHA Mobile Home Loans

Financing Manufactured (Mobile) Homes

Under the Title I Mobile Home Loan program, FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a manufactured home and/or lot. FHA insures the lender against loss if the borrower defaults. Credit is granted based upon the applicant's credit history and ability to repay the loan in regular monthly installments.


A
Title I Mobile Home Loan may be used for the purchase or refinancing of a manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination. The home must be used as the principal residence of the borrower.

Maximum Loan Amounts:
Manufactured home & lot -
$392,904

The maximum dollar limits for lot loans and combination loans may be increased up to 85 percent in designated high-cost areas.



Maximum Loan Terms:
20 years for a loan on a manufactured home or on a single-section manufactured home and lot.
15 years for a manufactured home lot loan.
25 years for a loan on a multi-section manufactured home and lot.