Manufactured Housing Services
While many lenders have pulled out of the manufactured housing market, LOANLYNX has maintained strong ties with FHA approved manufactured housing direct lending specialists and adamantly supports this important housing space. Today, LOANLYNX offers Manufactured Housing within our FHA, VA, USDA, DU, Refi Plus, Open Access, Conventional, and One Time Close loan programs. Our financing programs offer Manufactured home loans for clients with a minimum qualifying credit score as low as 620!
A manufactured home is a structure that is transportable in one or more sections, and is designed and constructed to the Federal Manufactured Construction and Safety Standards and is so labeled. To be eligible for FHA mortgage insurance, all manufactured homes must comply with the following:
- A floor area of not less than 400 sq ft
- Be constructed after June 15, 1976, in conformance with the Federal Manufactured Home Construction and Safety Standards, as evidenced by an affixed certification label in accordance with 24 CFR 3280.11 (manufactured homes produced prior to that date or ineligible for insured financing)
- Be classified as real estate (but not be treated as real estate for purposes of state taxation)
- The mortgage must cover both the manufactured unit and its site and shall have a term of not more than 30 years from the date amortization begins.
- Built and remains on a permanent chassis
- Designed to be used as a dwelling with a permanent foundation built to FHA criteria, and the finished grade elevation beneath the manufactured home or, if a basement is used, the grade beneath the basement floor shall be at or above the 100-year return frequency flood elevation.
Manufactured Housing Certification
LOANLYNX‘s lending partners have negotiated special pricing on Manufactured Housing Certifications through Hayman Residential Engineering Services. They provide a complete service for foundations on manufactured housing. We will assist you with ordering your engineering certification to expedite help the approval process.