Mortgage Loan Rules for Moving a Manufactured Home

Real Estate Podcast with Patrick Fitzgerald

Today I wanted to clarify the rules on moving a manufactured home. A lot of people don’t know this, but there are some very, very specific rules regarding this topic and there’s a lot of confusion about it. Why is this so important? A lender may not be able to do one of the top three loans—FHA, conventional, or VA loan—on a manufactured home if it’s been moved. FHA and conventional loans don’t allow a home to be moved or reinstalled once it has been in installed in its original location. Only VA loans, the loan option for veterans, allow the option to move a home once after its initial installation. Does the trip from the manufacturer to the location count as a move?No, it doesn’t count as a move. But here’s what you need to know: If the owner sells the home or has been foreclosed upon, if the home is moved from where it was installed to another location after having been sold, then that is considered a move. “Only VA loans, the loan option for veterans, allow the option to move a home once after its initial installation.” Where do we get all this information? You can visit the Texas Department of Housing website at www.TDHCA.state.tx.us for records on every installation of manufactured homes. A manufactured home installer is licensed and by law they must log on to that site, enter their license number, then tag numbers of the manufactured home and the serial numbers and declare that they installed a specific home with both the date and location of that installation. This site is how lenders find out if a home has been moved. This is critical information no matter if you’re on the buyer’s or seller’s side because some lenders don’t even know how to do this. You should want to know in advance if you’re wasting your time. If you have any questions about this, feel free to give me a call or send an email. I’ll answer all of your questions, and after all, it doesn’t cost a penny to talk.