Part 2: USDA Manufactured Home Loan Guidelines: USDA Manufactured Home Minimum Property Requirements
What are USDA Manufactured Home Minimum Property Requirements? How do you qualify for a USDA Manufactured Home Loan in Florida, Texas, Tennessee, and Alabama?
In today’s short video, we will continue our review on USDA Manufactured Home Minimum Property Requirements and further highlight the flexibility that USDA loans offer with manufactured homes.
However, before we get started, don’t forget to take advantage and download our Manufactured Home Blueprint for Success with the link below. This free guide is designed to walk you through the manufactured home qualifying process step-by-step and is a great tool for both homebuyers and Realtors alike.
What are USDA Manufactured Home Minimum Property Requirements in Florida, Texas, Tennessee, and Alabama?
As a follow up to our last post where we discussed the recent USDA Announcement for Existing Ma
nufactured Home Loans, I wanted to answer some of the questions we have been receiving and dive deeper into the following USDA Manufactured Home Minimum Property Requirements:
- USDA Property Eligibility: First off, please remember that as with any other USDA eligible property, the manufactured home must be located in a USDA eligible area
as determined by the USDA eligibility map. - USDA Income and Credit Qualifying: Whether it is a manufactured home, modular, or single-family residence, standard USDA credit and income qualifying guidelines will apply.
- Minimum Square Feet: Unlike Fannie Mae, which requires a manufactured home to be at least 12 feet wide, USDA loans do not mandate a certain width and only require the manufactured home to be at least 400 square feet.
- Age of the Manufactured Home: While VA, FHA, and Conventional loans will permit manufactured homes that are built on or after June 15, 1976, USDA loans require that the manufacture date be within 20 years from the date of loan closing.
Foundation Requirements: USDA follows FHA foundation requirements and HUD installation standards as found in the “Permanent Foundation Guide for Manufactured Housing” (HUD-4930.3G) which are documented through a foundation inspection and certification.
As you can imagine, there is major excitement surrounding the USDA Manufactured Home Loan announcement and we are actively working with applications at this time. This is helping to immediately increase both affordability and available properties for our rural communities.
If you want to qualify for a USDA loan or would like to get access to an expert second opinion, let our dedicated team of USDA experts go to work for you!
Just call, text, or email to discuss your scenario and let us show you the “Metroplex” difference!
Toll Free: 800-806-9836 x280
Call/Text: 863-593-2001
Email: SeanS@MPLX.org
As always, I want everyone to make it a great day and look forward to seeing you right here for the next tip of the week!
