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Lilas Moua (NewVision Realty Group powered by eXp Realty of California, Inc.)

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5,049,450
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I have have closed several but none with FHA. But I have seen them on the MLS so I know it can happen. Not sure if the home must be on owned land or not, and they might require that it be permanently affixed to the foundation - here in CA it's a 433A certification. John Meussner is a great contact

Dec 31, 2016 04:19 PM
Rainer
4,880
Lilas Moua
NewVision Realty Group powered by eXp Realty of California, Inc. - Roseville, CA

I found it! I looked up on the HUD.gov.  Here it is everyone. Heres the link as well if anyone needs it.  https://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/title/repair

 

Manufactured Homes Placed on a Leased Lot

For Title I insured loans, borrowers are not required to purchase or own the land on which their manufactured home is placed.  Instead borrowers may lease a lot, such as a site lot within a manufactured home community or mobile home park.  When the land/lot is leased, HUD requires the lessor to provide the manufactured homeowner with an initial lease term of 3 years.  In addition, the lease must provide that the homeowner will receive advance written notice of at least 180 days, in the event the lease is to be terminated.  These lease terms are designed to protect homeowners in case the lessors sell the land or close the park.

Maximum Loan Amount

  • Manufactured home only - $69,678
  • Manufactured home lot - $23,226
  • Manufactured home & lot - $92,904

Maximum Loan Term

  • 20 years for a loan on a manufactured home or on a single-section manufactured home and lot
  • 15 years for a manufactured home lot loan
  • 25 years for a loan on a multi-section manufactured home and lot
Dec 31, 2016 04:52 PM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I have not, Lisa but you may want to contact John Meussner as he is a FHA-mortgage expert.   Good luck.  

Dec 31, 2016 04:06 PM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I have not but it seems you've found the answer - I seldom if ever do MH's anymore

Jan 01, 2017 05:16 AM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

John Meussner has your answer.  Salute to Jeff Dowler for mentioning John to you.

Dec 31, 2016 04:52 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I've used FHA a fair number of times but manufactured and mobile homes never so I am not aware of it being possible or not sorry.

Jan 25, 2018 08:22 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, we don't have many manufactured homes out here, so I don't work that area.  Looks like Jeff Dowler has you covered.  Best of luck to you.

Jan 01, 2017 03:21 PM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Never under this scenario. Let us know if you have success!

Jan 01, 2017 07:47 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not.

Jan 01, 2017 07:47 AM
Rainer
213,263
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

I don't think that is real estate as it comes with a title and not a deed.

Jan 01, 2017 04:54 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I think FhA will look upon this as a personal property loan

Dec 31, 2016 06:39 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I'm sorry, I don't know about this one.

Dec 31, 2016 05:38 PM
Rainmaker
864,658
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

John Meussner is the pro. Glad you got your answer. 

Dec 31, 2016 04:48 PM
Rainmaker
1,955,212
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

You got the right answers for Jeff and Michael!  Good luck and Happy New Year!

Dec 31, 2016 04:35 PM
Rainmaker
815,253
Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

Can do it here in FLA

Dec 31, 2016 04:34 PM
Rainer
55,673
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

In New Jersey FHA will not close on a Mobile Home. The reason is the word Mobile. In NJ you do not receive a DEED on a Mobile home, you receive a Title exactly like a car title. Also the Lease land is an issue. How long is the lease? Can't do a 30 year mortgage an a property with a 10 year lease.  You will have many issues with this deal...I would pass on IT.

 

Jan 06, 2017 10:43 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

You really need to connect with a lender who KNOWS FHA and can close those types of loans.  Some will offer to help and say they can close ... but in the end they don't.  Beware. 

Jan 02, 2017 09:16 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I like Michael Jacobs comment....

Jan 01, 2017 11:24 AM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I've never seen this type of transaction.  There are not too many mobile home parks in my market area.

Jan 01, 2017 09:15 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sorry, can't help. I don't do manufactured or mobile home sales.

Jan 01, 2017 08:15 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

Other people may have.  FHA loans are not available in our great land.

Jan 01, 2017 07:35 AM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

In my experience not going to happen on leased land for FHA!

Jan 01, 2017 06:58 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Nope!

Happy New Year!

Jan 01, 2017 02:55 AM
Rainmaker
4,272,548
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Depends on the age I believe (not before 1978).Check with lender...

Dec 31, 2016 10:19 PM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

Your trusted mortgage loan officer should be able to give you the correct advice.

Dec 31, 2016 05:24 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I was surprised to read the affirmative answer below.

Dec 31, 2016 05:07 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am fairly certain that the land must be owned and the home is permanently attached to the land for FHA. 

Dec 31, 2016 04:26 PM
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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

WOW!  Don't you just love how helpful AR peeps are?!  Jeff Dowler - you ROCK!  Lilas Moua - glad you found your answer! 

Dec 31, 2016 04:25 PM