Lending Options

FHA has financing for mobile homes and factory-built housing. There are two loan products – one for those who own the land that the home is on and another for mobile homes that are – or will be – located in mobile home parks.

Summary:

This program insures mortgage loans made by private lending institutions to finance the purchase of a new or used manufactured home.

Purpose:

HUD has been providing loan insurance on manufactured homes under Title I since 1969. By protecting mortgage lenders against the risk of default, HUD’s participation has encouraged them to finance manufactured homes, which had traditionally been financed as personal property through comparatively high-interest, short-term consumer installment loans.

The program thereby increases the availability of affordable financing and mortgages for buyers of manufactured homes and allows buyers to finance their home purchase at a longer term and lower interest rate than with conventional loans.

Type of Assistance:

The program insures lenders against loss from default on loans. The buyer must agree to make the required downpayment and meet credit guidelines. The interest rate is negotiated between the borrower and the lender. The borrower pays an upfront insurance premium, along with an annual premium based on the declining balance of the loan. The maximum loan term is 20 years for a manufactured housing loan.

Eligible Grantees:
Private lending institutions are eligible for insurance on loans made under the program.

Eligible Customers:

All buyers who meet credit requirements and plan to use the manufactured home as their principal place of residence, are eligible for the program.

Application:

Buyers of manufactured homes may apply for a loan through a HUD-approved lender or through a lender’s approved manufactured home dealer.

Technical Guidance:

The program is authorized under Title I, Section 2 of the National Housing Act (12 U.S.C. 1703). Program regulations are in 24 CFR Part 201.

Homes In Mobile Home Parks

Country Place Mortgage
Chuck Swegles
1745 S. Alma School Rd. #270
Mesa, AZ  85210
Phone:  (877) 673-7416

Manufactured Home Mortgage
Dave Crockett
1290 Point East Drive, #225
Rancho Cordova, CA 95742
Phone:  (916) 861-2292

Triad Financial Services
Neil Roszkowski
4199 Campus Drive, #250
Irvine, CA 92612
Phone: (866) 321-3153

U.S. Financial Network
Cheryl Sharpe, Jana Tobey,
Robert Quinn
32861 Camino Capistrano, #D
San Juan Capistrano, CA 92675
Phone:  (800) 655-9044

Homes on Land

Cascade Financial
Danielle Prisciandaro
3345 S. Val Vista Drive, #300
Gilbert, AZ  85297
Phone: (877) 869-7082

Country Place Mortgage
Chuck Swegles
1745 S. Alma School Road, #270
Mesa, AZ 85210
Phone: (877) 673-7416

Home Financial
Richmond Chester
1355 Willow Way, #250
Concord, CA 94520
Phone: (800) 241-5263 ext. 130

Well Fargo Mortgage
Nick Goiburn
8405 N. Fresno Street, #150
Fresno, CA 93720
Phone:  (559) 437-2433

First Guaranty Mortgage
Tom Martinson
1900 Gallows Road, #800
Tysons Corner, VA 22182
Phone: (760) 419-7337