The National Manufacturing Housing Construction and Safety Standards Act of 1974 was a major turning point for the manufactured housing industry. These homes were put under regulation, and The United States Department of Housing and Urban Development (HUD) was given the authority to establish federal standards for the design and construction of these homes. As manufactured homes became recognized as a real housing option the need for lending options arose. 


The Federal Housing Administration (FHA) has been helping families to purchase homes since 1934 with loans. Before these loans, families typically put 50% or more down for their homes. Now, the down payment can be as low as 3.5% with most FHA loans. These are typically a great option for families because they require a small percentage down and offer incentives like the first time home buyer grants. When applying for the loan you will be required to provide information about your household, here is a FHA checklist to get an idea of what you will need.


If you were under the impression that FHA loans were not given for manufactured or modular houses then we have good news! There are plenty of FHA lenders that specialize in providing FHA loans for manufactured homes. Each lender has their own requirements that the recipient must meet. Check in with a dealership to start the process and see if you qualify for a loan, their job is to get you into a home! Don't let yourself be discouraged by misinformation, manufactured homes are just as qualified for loans as a site built home. 


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