Manufactured Housing News

Manufactured homes continue to be a popular and practical housing choice, offering an affordable path to homeownership. One common question buyers ask is whether an FHA loan can be used to finance their manufactured home. The short answer is yes—FHA loans can be used in certain situations—but they aren’t the only, or always the best, option. Understanding how FHA loans work alongside other financing choices can help buyers make a confident, informed decision.

How FHA Loans Work for Manufactured Homes

The Federal Housing Administration (FHA) insures loans made by approved lenders, helping make homeownership more accessible. FHA loans for manufactured homes are available when the home meets specific requirements. The home must be built after June 15, 1976, comply with HUD construction standards, and typically be permanently affixed to a foundation. In many cases, the borrower must also own the land the home sits on, and the loan is structured as real estate rather than personal property.

Related: How to Qualify for a Manufactured Home Loan

FHA loans can be appealing because they often allow lower down payments and flexible credit guidelines. For buyers who plan to purchase both the home and the land together and meet FHA criteria, this type of loan may be worth exploring.

Flexible Alternatives to FHA Loans

While FHA loans offer advantages, they also come with guidelines that may not match every buyer’s situation. The property requirements, inspection standards, and approval process can take additional time. FHA loans also include mortgage insurance premiums, which can increase the overall cost of the loan over time.

For buyers who want flexibility, faster timelines, or are purchasing a manufactured home without land, other financing options may be a better fit.

Home-Only (Chattel) Loans:

Home-only loans—often called chattel loans—finance the manufactured home itself without including land. These loans are ideal for buyers placing a home in a manufactured home community or on leased land. The process is often more streamlined, and the requirements can be well-suited to manufactured home ownership.

Triad Financial Services specializes in home-only financing and works with buyers who want a straightforward option designed specifically for manufactured homes. For many buyers, this type of loan provides speed, clarity, and flexibility that align with their housing plans.

Land-Home Loans: One Loan, One Closing

For buyers who want to purchase both the manufactured home and the land together, land-home loans offer a convenient solution. These loans combine the cost of the home, land, and sometimes site work into a single financing package. Compared to FHA loans, land-home loans may offer fewer property restrictions and a smoother overall process, especially when working with a lender experienced in manufactured housing.

Triad’s land-home loan options are designed to support buyers through every stage of the purchase, from planning to placement.

Choosing the Right Loan for Your Goals

FHA loans can be a solid option for some manufactured home buyers, but they aren’t the only path to ownership. Other loans, such as chattel (home-only) or land+home loans, can provide flexible alternatives that align more closely with how manufactured homes are purchased and lived in today. Triad offers a path towards these kinds of loan programs that start with as little as 5% down.

By understanding all your available options—and working with a lender focused on manufactured housing—buyers can choose financing that supports their goals, lifestyle, and long-term success.