There are a few key rules you should know about in order to get a VA loan under a manufactured home.
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If you’re considering using a VA Loan on a manufactured home, I have some information that you’ll need to know.
To begin, you should know that you are, in fact, allowed to have a VA loan under a manufactured home. However, this can be difficult in certain cases. Though VA loans are technically allowed on both double-wide as well as single-wide homes, you will experience a great deal of difficulty in finding a lender who will do a VA loan for you on a single-wide home.
Along with this, there are some other rules. For example, a manufactured home needs to be compliant with any foundation requirements—the home must have a foundation that is attached to the ground, called a HUD-style foundation. Luckily, an engineer can inspect and retrofit this style of foundation on homes that don’t already have one.
Additionally, any wheels or axles must be removed from the home. This is because, from a title standpoint, the home must be considered permanently one with the land.
Speaking of mobility, in order to get a VA loan under a manufactured home, the home must have been moved one or fewer times since its original installment.
To ensure that these requisites have been met, the home must go through a number of inspections, including a septic inspection, termite inspection, and, if there is one present on the property, a well inspection and water quality test.
While they are negotiable between the buyer and seller, the seller is no longer required to provide funds for these inspections so the impetus falls largely on the buyer to ensure that these inspections are carried out and paid for.
A final rule to keep in mind is that the home must be a 1976 or newer model.
This may seem like a lot, but all of the inspections and regulations required are for the benefit of the veteran—as the VA wants buyers to be safe and healthy within their homes.
Also, while many may say that acreages are not allowed under a VA loan with a manufactured home, this is not the case.
If you want more information on VA loans and manufactured homes, or if I can answer any other questions for you, feel free to get in touch by giving me a call or sending me an email. I look forward to hearing from you.