Mortgage Insurance Combination and Manufactured Home Lot Loans

 

To make possible reasonable financing for the purchase of a manufactured home and/or a lot on which to place the home.

Active 14.162 Office of Housing-Federal Housing Commissioner, Department of Housing and Urban Development F - Guaranteed/Insured Loans; H - Sale, Exchange, or Donation of Property and Goods Not applicable. National Housing Act, Title I, Section 2, as amended, 12 U.S.C. 1703 All legal residents are eligible to apply. Individuals/families. Documentation regarding the characteristics of the manufactured home unit, HUD-approved appraisal of the lot, and the qualifications of the borrower are submitted to a HUD approved lender. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Application is submitted to a HUD-approved lender for review and approval. Approval or denial of the application is made by the HUD approved lender. Not applicable. Not applicable. Not applicable. Not applicable. Not applicable. HUD insures lenders against loss on mortgages. Insured mortgages may be used to purchase manufactured homes and lots for buyers intending to use them as their principal places of residence. The maximum mortgage amount is $92,904 for a manufactured home and a suitably developed lot and $23,226 for a developed lot only. The lot must be appraised by the HUD-approved appraiser. Not applicable. Not applicable. Lenders are required to service and maintain records in accordance with acceptable lending practices of prudent lending institutions and the HUD regulations. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. The maximum loan term is 20 years plus 32 days for a manufactured home and lot; 25 years plus 32 days for a manufactured home and lot combination; and 15 years for a lot only. Method of awarding/releasing assistance: Lump. For additional information, individuals are encouraged to contact the FHA Resource Center by phone at 1-800-CALL-FHA (1-800-225-5342), by email at answers@hud.gov or visit the FHA Resource Center site at http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ. Kevin Stevens
451 7th Street, SW
Washington, DC 20410 US
answers@hud.gov
Phone: (800) 225-5342. http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/title/manuf146 86-4077-0-3-371 (Sale, Exchange, or Donation of Property and Goods) FY 22 FY 23 FY 24 FY 21 FY 20 FY 19 FY 17 FY 16 FY 15 - Reported Under 14.110 for Fiscal Years 2009 through present. The maximum mortgage amount is $92,904 for a manufactured home on a suitably developed lot and $23,226 for a developed lot only. 24 CFR Section 201 Not applicable.