Part 2: USDA Manufactured Home Loan Guidelines: USDA Manufactured Home Minimum Property Requirements
https://usdaloanpro.com/part-2-usda-m... What are USDA Manufactured Home Loan Guidelines? How do you qualify for a USDA Manufactured Home Loan in Florida, Texas, Tennessee, and Alabama? In today’s short video, we will highlight the flexibility that USDA loans offer with manufactured homes and discuss the qualifying process along with USDA manufactured home minimum property requirements. However, before we get started, don’t forget to take advantage and download our Manufactured Home Blueprint for Success with the link below. This free guide is designed to walk you through the manufactured home qualifying process step-by-step and is a great tool for both homebuyers and Realtors alike. As a follow up to our last post where we discussed the recent USDA Announcement for Existing Manufactured Home Loan, I wanted to answer some of the questions we have been receiving and dive deeper into the highlights: 1. USDA Property Eligibility: First off, please remember that as with any other USDA eligible property, the manufactured home must be located in a USDA eligible area as determined by the USDA eligibility map. 2. USDA Income and Credit Qualifying: Whether it is a manufactured home, modular, or single-family residence, standard USDA credit and income qualifying guidelines will apply. 3. Minimum Square Feet: Unlike Fannie Mae, which requires a manufactured home to be at least 12 feet wide, USDA loans do not mandate a certain width and only require the manufactured home to be at least 400 square feet. 4. Age of the Manufactured Home: While VA, FHA, and Conventional loans will permit manufactured homes that are built on or after June 15, 1976, USDA loans require that the manufacture date be within 20 years from the date of loan closing. 5. Foundation Requirements: USDA follows FHA foundation requirements and HUD installation standards as found in the “Permanent Foundation Guide for Manufactured Housing” (HUD-4930.3G) which are documented through a foundation inspection and certification. As you can imagine, there is major excitement surrounding the USDA Manufactured Home Loan announcement and we are actively working with applications at this time. This is helping to immediately increase both affordability and available properties for our rural communities. If you want to qualify for a USDA loan or would like to get access to an expert second opinion, let our dedicated team of USDA experts go to work for you! Just call, text, or email to discuss your scenario and let us show you the “Metroplex” difference! Toll Free: 800-806-9836 x280 Call/Text: 863-593-2001 Email: [email protected] http://www.USDALoanPro.com Download our FREE USDA Blueprint for Success! http://www.usdaloanpro.com/blue-print... GET MORE INSIGHTS More ProTips from USDA Loan Pro: Subscribe on YouTube: http://www.youtube.com/subscription_c... Website: http://www.usdaloanpro.com Facebook: / metroplexmortgage Twitter: / usdaloanpro
