Mortgage Loans

Financing Manufactured Homes Built Before 1976

Fewer lenders will lend on "MOBILE HOMES" today since they were built before June 15, 1976. In 1980 the term "MOBILE" was discontinued and the term "MANUFACTURED" or "HUD MANUFACTURED" was replaced and that remains in effect to this day.

Approved Federal Housing Administration (FHA) lenders are an option for mobile homes that meet the guidelines, including the age restriction of built on or after June 1976. manufactured homes permanently attached to a foundation also have access to financing as a mobile and land package, provided credit and equity are acceptable.

Mobile homes: Manufactured homes built before June 15, 1976, are still referred to as mobile homes. Manufactured homes: They shouldn’t be confused with a modular home. Manufactured homes are constructed on a chassis. Modular homes are required to meet the same building requirements as homes constructed on site.

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Modular homes can be built “on-frame” – with the chassis, or “off-frame”. Whatever you choose, be sure to research loan options before.

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There are three issues that come up with buying mobile homes or financing older manufactured housing that don’t usually affect traditionally-built homes: Few real estate lenders will finance mobile homes built before 1976. Manufactured housing must be taxed as real estate and placed on a proper.

These regulations establish minimum design and construction standards for all multifamily manufactured homes and mobilehomes built before June 15, 1976, and commercial modular and special purpose commercial modulars to be sold, rented, or leased throughout the State. These regulations are preemptive over any local requirements.

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Whereas mobile homes (pre 1976) were financed like a car, certain lenders such as Cascade offer manufactured home loans that are similar to loans for site-built homes and other real estate. By understanding these key differences, it is easy to see the terms ‘mobile home’ and ‘manufactured home’ are very distinct.

The American Farm House Series features all pre-built, manufactured homes. As part of the Clayton Built® family, that means our homes are made according to strict standards and built in a controlled environment, plus, they have to meet code requirements that are often above and beyond what’s required of traditional site-built homes.