Do Manufactured Homes Qualify for the USDA Rural Developement Mortgage Loan in Florida?? PLEASE HELP!!?

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I have heard SO many different answers to this question. Some say yes and then some say no, I feel like a realtor with all the info I have learned about the real estate market but I still can’t seem to resolve this question. I have the website to the USDA but I’m still confused. A little info….I am looking to put a bid on a 1997 double wide on 3.3 acres of land. It qualifies for USDA due to the area but I dunno if mobile homes do. PLEASE HELP me solve this question ONCE AND FOR ALL!! Thanks!

Meeting the housing needs of rural residents results of the 1998 survey of USDA’s Single Family Direct Loan Housing Program (SuDoc A 93.41:91)

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My wife and I are wanting to purchase the house we are renting, and the loan would be through the USDA Rural Development. In the application, it said we need a copy of two years W2s, but we did our taxes online via a public computer the last two years and we don’t have them. I noticed on the IRS website that you can get either a transcript of your W2s for free, or your actual W2s for $ 57 per year that you request. I can’t afford to get the actual W2s, and we’re wanting to expedite this so we qualify for the $ 8K tax credit for first time home buyer (cutoff date being early December). I called the local USDA office and the woman said she “thinks” she needs the actual W2s, but she didn’t sound very sure about that. I’ve read online that you can take a transcript. So any clarity on the subject would help.

Thanks!
In response to not buying the house because we can’t afford the $ 57 copies… if we bought our house, our bank said that we’d actually SAVE about $ 200/mo in what we pay on rent. =)

5 Comments
  1. Reply
    Lisa L
    January 22, 2011 at 3:42 am

    I think the rule is still only new manufactured home & only from certain approved manufacturers.

  2. Reply
    E M
    January 22, 2011 at 4:30 am

    There is a big difference between manufactured(permanently attached) and mobile homes.I believe a permanent manufactured home may fit the guidelines but then since the crash, the rules have changed. The lender would be the one to make the final decision.

  3. Reply
    v b
    January 22, 2011 at 5:29 am

    Forget the $ 57 deal–that’s a photocopy of your tax return and since you didn’t mail it in, won’t include the W-2s anyway.

    Use the 4506-T and get the free transcript–it’s fine. Your only other choice is to contact your old employers and see if they can dig them up.

    PS, if you can’t afford to pay $ 57, you need to seriously reconsider buying a house. The up to $ 8000 tax credit isn’t going to pay the bills once you’ve spent it.

  4. Reply
    OldJimmy
    January 22, 2011 at 6:14 am

    I would go ahead and order the free transcripts so they are available. I have a feeling that they will be acceptable, but call the USDA office again and ask them to get you a definitive answer from the underwriter and quickly. They owe you an exact answer and not leave you with something that some staffer “thinks”.

    They have certainly faced this situation before and will know how to handle it.

  5. Reply
    golferwhoworks
    January 22, 2011 at 6:36 am

    yes they will want both as the lender will execute the 4506T and you can get copies of the w2’s from your employer as they must have them on file. They will check them to make sure the filings match
    I am a mortgage banker in TN

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