FHA loans
When applying for an FHA home loan, some lenders may ask for tax paperwork as part of the application process. Some borrowers may wonder if this is legal, or an acceptable practice for home loans in general.
FREE CREDIT SCORE
Do you know what's on
your credit report?

FHA Loan Articles

News, updates, and explanations to keep you informed.
FHA Rules for Manufactured Homes
FHA mortgage loans are available for much more than just suburban homes or condominiums. FHA loans can also be used to purchase mobile homes, manufactured homes and/or modular homes.

Manufactured homes are often sold and transported in sections to be assembled on-site. Some buyers may wonder if the assembly counts as "construction", and would such "construction" reclassify the manufactured home in the eyes of the FHA?

The FHA defines a manufactured home differently than new or existing construction properties--what does the FHA consider different than with those new construction or existing construction suburban homes?

According to FHA rules, a manufactured home differs from a new construction project because of the nature of its assembly. New construction property is built "on-site". FHA defines a manufactured home as "a structure that is transportable in one or more sections. In traveling mode, the home is eight feet or more in width and forty feet or more in length."

These homes are regulated under the rules known as Federal Manufactured Construction and Safety Standards and must be labeled accordingly. To be eligible for FHA mortgage insurance, the manufactured home must be built after June 15, 1976 and there must be a certification label to prove it. Manufactured home floor space can not be smaller than 400 square feet and must be classified as real estate.

The only manufactured homes that may be classified as real estate or "real property" are those which have a permanent foundation built to FHA standards. They must be considered a "permanent dwelling" or the home is considered personal property for tax purposes and is ineligible for an 30-year FHA mortgage. According to FHA requirements, "the mortgage must cover both the manufactured unit and its site and shall have a term of not more than 30 years from the date amortization begins."


FHA NEWS and RELATED ARTICLES

When applying for an FHA home loan, some lenders may ask for tax paperwork as part of the application process. Some borrowers may wonder if this is legal, or an acceptable practice for home loans in general.
There are many questions about the official FHA loan rules for occupancy for single-family home loans. According to FHA rules, a borrower must occupy the home purchased with a single-family FHA loan as a personal residence as a condition of loan approval.
After the housing market crisis of the previous decade, many mortgage borrowers found themselves having trouble making their monthly payments. In some cases, borrowers just walked away from the mortgage completely and allowed the home to be foreclosed upo
The FHA has announced it would accept electronic signatures (also known as e-signatures) on several FHA home loan documents. The new policies are found in detail described in FHA Mortgagee Letter 14-03.
Some of your FHA loan closing costs may be financed, and some may--after being negotiated between buyer and seller--be paid by the seller within the boundaries of the FHA loan programís rules. The borrower can also pay some closing costs out of pocket.

Next 5
Privacy Policy | Terms of Use | About Us | Site Map | Contact | FHA Lenders

SecureRights Advertiser Contact Information

Copyright © 1997-2014 · FHA.com · All Rights Reserved
Web Design: Bouncing Pixel · Houston, Texas


Qualify for an FHA Loan
Compare Refinance
Mortgage Rates
Sites and Offers of Interest
 

Free FHA Limits Calculator

Display current FHA loan limits for states and counties on your real estate, mortgage, or community website.

Get: FHA Limits Widget

FEATURED SITES:

Military Hub
Helping you make the best financial choices, build wealth, and save money during and after your military service.

-- Military Insurance
-- Military Pay
-- GI Bill Education
-- Military Finance

VA Loans
Offering VA loan products that meet the home financing needs of active duty military and veterans across the country.

-- VA Loan Limits
-- VA Loan Refinance
-- VA Loan Guidelines


Remember, the FHA does not make home loans. They insure the FHA loans that we can assist you in getting. FHA.com is a private corporation, is not a government agency, and does not make loans.

FHA LOAN TYPES:

-- FHA Home Loan
-- FHA Secure
-- FHA Reverse
-- FHA Loan (fixed rate)

SPECIAL FHA TOPICS:

-- FHA Down Payments
-- FHA Credit
-- FHA Appraisals
-- FHA Mortgage Tips
-- FHA Loan Prequalify
-- Other Loan Types
-- FHA Loan Questions
-- Obama Mortgage
-- HOPE Act

FHA Foreclosed Homes

SEARCH FOR FREE!

Search by State
- or -
Enter Zip Code

FHA News Blog
- A Blog About FHA Loans -
This blog is brought to you by the knowledgeable group of counselors at FHA.com. Our team specializes in advising our customers about the value of FHA mortgage loans. > See also: VA Loans Blog
Military Rates and Charts
- A Military Hub Site -
Military guidelines, regulations, and benefits are introduced each year for everything from Military Pay Charts to your VA Loan benefits. We can help you stay informed. > See also: Military Pay Archive