Does USDA Finance Used Mobile Homes?

Are you considering buying a used mobile home? Wondering if you can finance it with a USDA loan? In this article, we will explore the requirements and guidelines for USDA loans for manufactured housing. We will also discuss the benefits of USDA loans and how they can help you finance your dream home.

USDA Loans for Manufactured Housing

USDA loans are a great way to finance your new home, including manufactured housing. These loans are offered by the U.S. Department of Agriculture and are designed to help low- to moderate-income borrowers purchase homes in eligible rural areas.

USDA Loan Property Requirements

In order to qualify for a USDA loan for a used mobile home, the property must meet certain requirements. These requirements include:

• The home must be located in an eligible rural area.
• The home must be considered a manufactured or modular home.
• The home must be permanently affixed to a foundation.
• The home must meet HUD guidelines for manufactured housing.

USDA Manufactured Home Guidelines

USDA has specific guidelines for manufactured homes that must be met in order to be approved for USDA financing. These guidelines include:

• The unit must be built after June 15, 1976.
• The unit must have a minimum of 400 square feet of living space.
• The unit must be permanently attached to a foundation.

Are Mobile Homes USDA Eligible?

Yes, mobile homes can be eligible for USDA financing. However, they must meet the requirements mentioned earlier, such as being located in an eligible rural area and being permanently affixed to a foundation.

Are Modular Homes USDA Eligible?

Yes, modular homes can also be eligible for USDA financing. These homes are built off-site and then transported to the property location. Like mobile homes, modular homes must meet the USDA's property requirements to be approved for financing.

See How Much Home You Can Afford With a USDA Loan

Before applying for a USDA loan for a used mobile home, it's important to determine how much home you can afford. Use our USDA loan calculator to estimate your monthly mortgage payments and determine your affordability.

Conclusion

USDA loans are a great option for financing used mobile homes. By meeting the property requirements and guidelines set by USDA, you can secure a loan to purchase the home of your dreams. Take advantage of this opportunity to own a home in a rural area and enjoy the benefits of homeownership.