the Title I 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
does not lend money, they only insure the loans. Title I manufactured
home loans are not Federal Government loans or grants. The interest
rate, which is negotiated between the borrower and the lender, is
required to be fixed for the entire term of the loan, which is generally
of the Loan
Title I 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.
home only - $69,678
home lot - $23,226
home & lot - $92,904
maximum dollar limits for lot loans and combination loans may be
increased up to 85 percent in designated high-cost areas. For further
information on high-cost area limits, contact (800) CALL-FHA.
Maximum Loan Term
years for a loan on a manufactured home or on a single-section
manufactured home and lot.
years for a manufactured home lot loan.
years for a loan on a multi-section manufactured home and lot.
homes are usually purchased through dealers or retailers that sell
the homes. The names of lenders in your area which specialize in
financing manufactured homes can be obtained from local retailers.
These retailers are listed in the yellow pages of your telephone
directory. They have the required application forms.
homes must comply with the Model Manufactured Home Installation
Standards, and all applicable state and local requirements governing
the installation and construction of the manufactured home foundation
provides two types of consumer protection. The borrower must sign
a HUD Placement Certificate agreeing that the home has been installed
and set-up to their satisfaction by the retailer before the lender
can give the loan proceeds to the retailer. After moving in, the
borrower can call HUD at (800) 927-2891 to get assistance about
the problems with construction of the home.
sufficient funds to make the minimum required downpayment
able to demonstrate that they have adequate income to make the
payments on the loan and meet their other expenses.
to occupy the manufactured home as their principal residence.
a suitable site on which to place the manufactured home. The home
may be placed on a rental site in manufactured home park, provided
the park and lease agreement meet FHA guidelines. The home may
be situated on an individual homesite owned or leased by the borrower.
Eligible Manufactured Home Must:
the Model Manufactured Home Installation Standards.
carry a one-year manufacturer's warranty if the unit is new
installed on a homesite that meets established local standards
for site suitability and has adequate water supply and sewage
disposal facilities available.
proceeds of a Title I manufactured home loan may not be used to
finance furniture (for example, beds, chairs, sofas, lamps, rugs,
etc.). However, built-in appliances and equipment and wall-to-wall
carpeting are eligible for financing.
Opportunity in Housing
Fair Housing Act prohibits discrimination in housing and related
transactions, including mortgages and home improvement loans. Lenders
may not deny funds or offer less favorable terms and conditions
in lending on the basis of the borrower's race, color, religion,
sex, national origin, familial status (i.e., the presence or number
of children in a household) or disability. In addition, lending
decisions may not be based on the race, color, sex, religion, national
origin, familial status or disabilities of persons associated with
the borrower or with the area surrounding the property.
you believe you have been the victim of discrimination in mortgage
lending on one of the prohibited bases, you may file a fair housing
complaint by contacting a local fair housing advocacy group, the
Office of Human Rights for your state or local government, or by
calling the national Fair Housing Hotline at (800) 669-9777 or TTY: