Manufactured Homes
Manufactured Home Loans
Why do homebuyers choose manufactured homes?
- Less expensive than most site-built homes
- HUD quality control requirements apply during the entire building process
- Upgrades are often available at a fraction of retail costs
First Federal offers both conforming manufactured home loans as well as non-conforming manufactured home loans.
Conforming manufactured home loans include homes that are:
- Two or more sections
- Title(s) eliminated or cancelled, treating home as real property
- On a permanent foundation
- Built after June 1976
- Applicant owns home and land
For other properties and manufactured home types, First Federal also offers non-conforming manufactured home loans through with our partner Triad Financial Services.
Non-conforming manufactured home loans include homes that are:
- One or more sections
- Title(s) not eliminated or cancelled, treating home as personal property
- May be on a non-permanent foundation system
- May be built before June 1976
- Applicant may rent or lease land/space home is located on
APPLYING FOR A CONFORMING LOAN VS A NON-CONFORMING LOAN
Ask yourself the following questions to see which loan type will best suit you.
Need more information? Contact our Mortgage Loan Officers to discuss your options and let us help guide you through this process.