FHA 203k loans and Manufactured homes?

Is it possible to get a FHA 203K loan on a manufactured home (this is not a trailer park home)?


This home is in foreclosure and has some light damage to the blocks along one wall of the basement (hubby is a contractor). It's something we'd fix on our own, definately livable in the mean time. The bank that holds the title wants it done prior to move in but since it is in foreclosure and 'as is' the bank is unwilling to do it. It seems we are the 10th offer on the house but no one seems to be able to get the appropriate loan.

Update 2:

A 203k is a type of loan not the price. The home is permanantly affixed to the foundation. It is NOT a mobile home.

5 Answers

  • 1 decade ago
    Best Answer

    This FreddieMac site claims they buy 203K loans, although I've never heard of one on a mobile/manufactured home and loan guidelines change daily. You would want to do your homework & find a lender that says they will do them.



    Property Type

    1- to 4-unit owner-occupied primary residences, including single-family dwellings, condominiums, and planned unit developments (PUDs)

    Manufactured homes in accordance with HUD guidelines

    Rehabilitation may include converting a 1-unit property to a 2- to 4-unit property or converting a 4-unit property to 3 units or less

    Value of the property is the lesser of:

    The "as-is" appraised value of the property, plus the HUD-approved cost of rehabilitation.

    110% of the "as-completed" appraised value of the property.

    Source(s): 22 Years Washington State Real Estate Experience ~ Associate Broker since 1991
  • 1 decade ago

    I don't believe that FHA will loan on a manufatured home. Also FHA won't loan on a home with foundation problems. $203K for a manufactured home seems pretty high. Foreclosures and short sales are not the best deals out there right now. I am seeing allot of them the worst deals but my clients just keep wanting to see them thinking they are getting something more and some big deal but they are not. If you need any more info on short sales, foreclosures or manufactered homes I am a realtor an used to own a Manufacture homes setting company. teesha@cbstgeorge.com

  • Anonymous
    4 years ago

    Try looking for a contractor at the following website. Good luck finding a good one.

  • Anonymous
    1 decade ago

    probably not...because it is not permanently attached to the property.

    FHA loans usually only apply to permanent foundations

    Try Santiago Financial-they specialize in lending on Manufactured homes in parks....

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  • 3 years ago

    This is puzzling to me too

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