Lilas Moua (NewVision Realty Group)

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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

I have have closed several but none with FHA. But I have seen them on the MLS so I know it can happen. Not sure if the home must be on owned land or not, and they might require that it be permanently affixed to the foundation - here in CA it's a 433A certification. John Meussner is a great contact

Dec 31, 2016 04:19 PM
Rainer
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Lilas Moua
NewVision Realty Group - Roseville, CA

I found it! I looked up on the HUD.gov.  Here it is everyone. Heres the link as well if anyone needs it.  https://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/title/repair

 

Manufactured Homes Placed on a Leased Lot

For Title I insured loans, borrowers are not required to purchase or own the land on which their manufactured home is placed.  Instead borrowers may lease a lot, such as a site lot within a manufactured home community or mobile home park.  When the land/lot is leased, HUD requires the lessor to provide the manufactured homeowner with an initial lease term of 3 years.  In addition, the lease must provide that the homeowner will receive advance written notice of at least 180 days, in the event the lease is to be terminated.  These lease terms are designed to protect homeowners in case the lessors sell the land or close the park.

Maximum Loan Amount

  • Manufactured home only - $69,678
  • Manufactured home lot - $23,226
  • Manufactured home & lot - $92,904

Maximum Loan Term

  • 20 years for a loan on a manufactured home or on a single-section manufactured home and lot
  • 15 years for a manufactured home lot loan
  • 25 years for a loan on a multi-section manufactured home and lot
Dec 31, 2016 04:52 PM
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

I have not, Lisa but you may want to contact John Meussner as he is a FHA-mortgage expert.   Good luck.  

Dec 31, 2016 04:06 PM
Rainmaker
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Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I have not but it seems you've found the answer - I seldom if ever do MH's anymore

Jan 01, 2017 05:16 AM
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

John Meussner has your answer.  Salute to Jeff Dowler for mentioning John to you.

Dec 31, 2016 04:52 PM
Rainmaker
867,345
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, we don't have many manufactured homes out here, so I don't work that area.  Looks like Jeff Dowler has you covered.  Best of luck to you.

Jan 01, 2017 03:21 PM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Never under this scenario. Let us know if you have success!

Jan 01, 2017 07:47 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not.

Jan 01, 2017 07:47 AM
Rainmaker
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Dennis Swartz
Rickert Property Management - Columbus, OH
ABR, CRB, CRS, GRI, MBA...experience counts!

I don't think that is real estate as it comes with a title and not a deed.

Jan 01, 2017 04:54 AM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I think FhA will look upon this as a personal property loan

Dec 31, 2016 06:39 PM
Rainmaker
3,632,115
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I'm sorry, I don't know about this one.

Dec 31, 2016 05:38 PM
Rainmaker
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Les & Sarah Oswald
Eastvale Team Realty & Property Mgmt - Eastvale, CA
Broker, Realtor and Investor

John Meussner is the pro. Glad you got your answer. 

Dec 31, 2016 04:48 PM
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

You got the right answers for Jeff and Michael!  Good luck and Happy New Year!

Dec 31, 2016 04:35 PM
Rainmaker
441,688
Paul Antonelli
NextHome Antonelli Realty - Saint Cloud, FL
Broker Owner; NextHome Antonelli Realty

Can do it here in FLA

Dec 31, 2016 04:34 PM
Rainer
31,866
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

In New Jersey FHA will not close on a Mobile Home. The reason is the word Mobile. In NJ you do not receive a DEED on a Mobile home, you receive a Title exactly like a car title. Also the Lease land is an issue. How long is the lease? Can't do a 30 year mortgage an a property with a 10 year lease.  You will have many issues with this deal...I would pass on IT.

 

Jan 06, 2017 10:43 AM
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

You really need to connect with a lender who KNOWS FHA and can close those types of loans.  Some will offer to help and say they can close ... but in the end they don't.  Beware. 

Jan 02, 2017 09:16 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I like Michael Jacobs comment....

Jan 01, 2017 11:24 AM
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Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

I've never seen this type of transaction.  There are not too many mobile home parks in my market area.

Jan 01, 2017 09:15 AM
Rainmaker
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Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Sorry, can't help. I don't do manufactured or mobile home sales.

Jan 01, 2017 08:15 AM
Rainmaker
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Marc Swartz, CPA, CA, Real Estate Broker
Royal LePage Vision Realty, Brokerage, Direct: (416) 737-9800, Office: (416) 321-2228 - Toronto, ON
Toronto, Durham & York Regions, Ontario, Canada

Other people may have.  FHA loans are not available in our great land.

Jan 01, 2017 07:35 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

In my experience not going to happen on leased land for FHA!

Jan 01, 2017 06:58 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Nope!

Happy New Year!

Jan 01, 2017 02:55 AM
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Paul S. Henderson, CRS, REALTOR®,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Depends on the age I believe (not before 1978).Check with lender...

Dec 31, 2016 10:19 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Your trusted mortgage loan officer should be able to give you the correct advice.

Dec 31, 2016 05:24 PM
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Bob Crane
Woodland Management Service - Stevens Point, WI
Forestland Experts! 715-204-9671

I was surprised to read the affirmative answer below.

Dec 31, 2016 05:07 PM
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I am fairly certain that the land must be owned and the home is permanently attached to the land for FHA. 

Dec 31, 2016 04:26 PM
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

WOW!  Don't you just love how helpful AR peeps are?!  Jeff Dowler - you ROCK!  Lilas Moua - glad you found your answer! 

Dec 31, 2016 04:25 PM