What is the difference between
Manufactured Homes and Modular Homes?
The primary difference between modular and manufactured homes is that modular homes are held to the same local, state and regional building codes required for on site homes. Manufactured homes are held to a federal code set by the Department of Housing and Urban Development (HUD) and have the ability to move. A modular home is pre-built in sections at a factory or other controlled environment. It is then assembled on site and must conform to all local and state building codes. Unlike manufactured home, a modular home is not built on a non-removable steel chassis.
How to identify if a property your looking at is manufactured:
Manufactured homes have a HUD Data Plate in the interior of the home on the inside of the closet door or kitchen cabinet. The data plate has a map of the US to let the consumer know the Wind Zone, Snow Load and Roof Load for which the house was built.
There is also a HUD tag often attached to the exterior of the manufactured home. Approximately one foot from the side of the home and one foot from the bottom of the home. Each HUD Tag is manufactured with a red background and text in silver letters.
Yes- we can finance single wide and double wide manufactured homes.
Most loan programs are going to allow for manufactured homes in their guidelines. A permanent foundation is required. If borrowers are considering a manufactured home its important to get prequalified early to see what loan program fits best for the borrowers situation. Then verify what rules and regulations that loan program has regarding manufactured homes.
Available Loan Programs Include:
Conventional, FHA & VA.
Please reach out with any questions! I am always here to help and appreciate your partnership!
