Our partner lender, Veterans United Home Loans, can now offer VA financing on manufactured home purchases!
Manufactured homes come with their own guidelines and additional property requirements. The below list is not all-inclusive, but it will help you get started!
Home Checklist:
The doublewide is a single-family residence on less than 25 acres and is considered "real property"
It is affixed to a permanent foundation and built on a permanent chassis
The towing hitch, wheels, and axles have been removed
The home was built after June 15, 1976, and is in its original location
Agent Checklist:
Two comparable manufactured homes have been recently sold
Surrender of Title and Affidavit of Affixture are completed (loan cannot be CTC'd if incomplete)
A Foundation Certification is performed by a licensed engineer
The HUD Data Plate and Certification Label (HUD Tag) are available (you may be able to proceed without these, but tell your Loan Officer if they are not available)
Buyer Checklist:
The VA Home Loan is being used to purchase a primary residence
This loan includes the home and land together (no leasehold estates)
15-30 year terms are now available (in increments of 5)
Minimum FICO score of 640
Reach out to your Loan Team or Network Development Coach with any questions!