Can Anyone Apply for an FHA Manufactured Home Loan in Houston, Texas?

Worried whether you can get an FHA manufactured home loan in Houston? Let’s go through the article!


The Federal Housing Administration allows applicants to find financing for mobile or manufactured homes. You can successfully gain financing if the mobile home is eligible or taxed as actual property. Needless to say, this clause requires the mobile home to be attached to a sanctioned foundation permanently.

What many borrowers miss out on is that they do not have to buy land in order to put the manufactured home on. This is quite commonly found, though! When you do not have land for the purpose, this can factor into your loan approval. In addition to it, the permanent foundation clause still appears irrespective of whether you have a leased plot or own it.

Now, you must be thinking the application process for an FHA manufactured home loan in Houston, Texas is complex. Nevertheless, mobile homes are a popular option. If it were so complex, why would so many people apply for it? Because the requirements are flexible and lenient! In this article, we delve deeper into the FHA mobile home loan requirements, let’s take a look below.

FHA Manufactured Home Loan Requirements

The minimum credit score requirement for an FHA manufactured home loan in Houston, Texas is 580, but it varies according to lenders. Borrowers can make down payments as low as 3.5% of the loan value. In addition to it, the permissible debt-to-income ratio is 43% when the FICO score is below 620. The debt-to-income ratio is higher (around 56.9%) when the borrower has a credit score over 620.

However, the HUD does not need you to clear the outstanding balance for getting qualified for the FHA manufactured loan program. You can receive down payments as gifts from family members.

Another thing to remember is that the mortgage is allowed for a primary residence only. Make sure, the square footage is at least 400 feet. Now, you can get an FHA-guaranteed loan only if the house is affixed to the permanent foundation. It is important to remember that the home adheres to the Federal Safety Standards.

Why You Need an FHA Manufactured Home Loan

FHA manufactured home loans in Houston, Texas are immensely in demand because these programs seem to be a practical solution. For first-time homebuyers trailing behind their budget, the program makes a lot of sense. You are likely to have a lot of questions about the home loan, so ask your lender.

If you are looking for a professional lender, contact Clear Lending now.


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