Can I Finance an Older Single-Wide Mobile Home?

Yes, financing is possible, but age and size restrictions apply. Most lenders require the home to meet the following guidelines:

• Built on or after June 15, 1976, to meet HUD standards
• At least 400 square feet in size

Some conventional lenders choose not to finance single-wide homes due to higher depreciation risk compared to double-wide or site-built homes.

What Loan Options Are Available for Single-Wide Homes?

Several loan options may be available depending on the home, land ownership, and borrower qualifications.

FHA Loans

• 3.5% down payment

• Home must be permanently affixed and classified as real property

VA Loans

• 0% down for eligible veterans

• Home must be permanently affixed and meet VA requirements

USDA Loans

• 0% down

• Typically limited to newer homes in eligible rural areas

Conventional Loans

• 3% or more down

• Rare for single-wide homes, but some lenders may approve if specific criteria are met

Do Single-Wide Homes Have to Be on a Permanent Foundation?

This depends on the loan type.

• FHA Title I loans do not require a permanent foundation
• FHA Title II, VA, USDA, and conventional loans require the home to be permanently affixed

A permanent foundation does not necessarily mean a full perimeter foundation. Proper tie-downs and anchoring that meet HUD guidelines may be sufficient.

Can I Finance a Single-Wide Home Without Owning the Land?

Yes, in limited cases.

• FHA Title I loans allow financing for homes on leased land
• The land lease must be for a minimum of three years

Most other loan programs require the borrower to own the land.

Are There Down Payment Assistance Options for Single-Wide Homes?

Yes, assistance may be available.

• THDA’s Great Choice Home Loan Program offers down payment assistance for eligible buyers financing manufactured homes
• VA and USDA loans also offer zero-down options for qualified borrowers

Availability depends on income limits, credit, and property eligibility.

What If My Single-Wide Home Was Built Before 1976?

Most traditional mortgage programs will not finance homes built before June 15, 1976, due to HUD safety regulations. Alternative options may include:

• Personal loans
• Chattel loans, which finance the home only
• Seller financing

These options often come with higher interest rates, so it is important to review terms carefully.

Where Can I Find a Lender for Single-Wide Home Financing?

Some lenders specialize in manufactured housing, including:

• FHA-approved lenders for Title I and Title II loans
• VA and USDA-approved lenders
• Manufactured home lenders such as 21st Mortgage Corporation and Vanderbilt Mortgage
• Local banks and credit unions

Always confirm lender requirements related to home age, size, foundation, and land ownership.

📞 Contact Jennifer Hannah at 931-261-8150 to schedule a buyer consultation and discuss your financing options.