FHA loan for land + a new modular/mobile home?

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Is it possible to buy a piece of land plus a new manufactured home with an FHA loan? I would plan on having the home there permanately.. say a foundation. But, is it possible to buy the land and the new home all on one fha mortgage?
I wanted to buy a good bit of land, so I can eventually build a boarding kennel (business).

  1. Reply
    April 30, 2011 at 1:24 am

    Check out the link below and while you are searching the HUD website, look for approved lenders in your area. Be sure to check their references BEFORE you apply so that you can assure that you get the best loan at the best rate.

    The link provides answers to questions to your Modular/Manufactured Homes questions directly from FHA. Good luck

  2. Reply
    April 30, 2011 at 1:38 am

    yes you can for primary homes.
    it needs to be purchased simultaneously…..also needs to already have a fixed foundation.

    you can’t mention that you plan to run a kennel on the property!

  3. Reply
    April 30, 2011 at 2:32 am

    FHA is for less fortunate and they don’t want to see you making a biz out of a personal home loan. Be careful.

    Talk to your lender & see if they can work with the situation. You may have to hold some funds for each step of the process.

  4. Reply
    April 30, 2011 at 3:24 am

    hello again Trish, all mobiles must be newer then 30yrs of age and preferably a new one when joining two items together. The land must meet the criteria as does the new mobile, plus keep your business out of it unless its personal dog use.
    Loans are based on continuous foundations, or strip footing and concrete blocks at the perimeter rather then tin skirting and piller & post.
    A few thing will make the difference when appling for the loan and I would strongly suggest you get a new mobile, a reputable sourse and a nice peice of land and make it a package deal. your percentages off the top will depend largelly on the location and style orsales ability of the unit in the event or a bank takeover (foreclosure).
    I hope any part of this helps with your decision to go mobile.


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