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Southern Mortgage Group has years of experience in providing Mortgage Loans on Manufactured Housing. We can finance qualified Manufactured homes under VA, FHA, USDA & Conventional Loan Options.
Frequently Asked Questions…
QUESTIONS: Can you finance a Manufactured home that has been moved more than once?
ANSWER: Your mortgage lender will verify that the Manufactured Home was placed by the Manufacture. If the home is moved a second time, the home no longer qualifies for traditional financing. NOTE: ONLY VA Mortgage allows for financing on a replaced Manufactured Home.
QUESTIONS: What is the difference between Mobil and Manufactured Home?
ANSWER: HUD code enacted in 1976 set standards on Home Safety and Construction. Southern Mortgage Group offers Mortgage Financing on Manufactured Homes built after 1976.
QUESTIONS: What modifications are needed on a Manufactured Home?
ANSWER: Borrowers seeking FHA financing on a Manufactured Homes will need to have the foundation modified to a “Retro-Fit / Tie down” to qualify for FHA financing. An Engineers Certification will need to be competed and presented to the lender for collateral approval.
QUESTIONS: What other information should I know about a Manufactured Home?
ANSWER: A Manufactured Home is a dwelling that was constructed in a Factory. The structure is then placed on spindles and wheels. The structure is then sent to the DOT and issued a VIN number. The VIN is replaced with HUD plates, which converts the property to REAL PROPERTY. The HUD plates must be attached a visible to the appraiser to meet lenders guidelines (Two plates for double-wide). Make sure that these plates visible and accessible before paying for an appraisal.
Please call today if you would like to review in more details. PHONE: 972.836.9423