Texas Manufactured Home Loans

A manufactured home, often known as a mobile home or trailer home, is a residence constructed in a factory following HUD’s construction standards. After June 15, 1976, all factory-built homes were called “manufactured home.”  There are difference in the Manufactured Homes, a home that is fully completed at the factory and transported to the site on axles is a mobile home,  a manufactured home that is build in the factory and taken to the build site and assembled on site is consider a modular, which follows the same lending guidelines as a site built or commonly known as “stick build home”.  

One-Time Close Construction Loan

The one-time close construction house loan is used to consolidate the borrower’s home and mortgage into a single transaction with a single closing. By combining the land and manufactured home purchases into a single loan, the borrower saves money by just paying one set of closing fees.

One-Time Close Programs for Manufactured Homes

FHA

• Must be at least 400 square feet of total floor area
• Must be attached to a permanent foundation
• Must be registered as “real property.”

VA

• Must have a permanent foundation
• A single-wide cannot be less than 400 feet of total floor area
• A double-wide must have at least 700 feet of total floor area

USDA

• Must be a brand-new dealer built
• Must be attached to a permanent foundation
• Must be at least 400 feet of total floor area
• 100% financing available with a 650 credit score
• Must be within a rural geographic location.

Conventional

• Must be affixed to a permanent foundation;
• Must be titled as “real property”
• Must meet HUD code of June 17, 1976

Other types of loans for manufactured homes include chattel, personal loans, and private lenders. 

Apply for a Manufactured Home Loan 

Capital Home Mortgage offers a one-time close construction loan for a manufactured home and land combo. Call us at 800-960-4565 to speak with one of our OTC loan specialists, or apply now!