Q&A: I heard that FHA will no longer approve a mortgage for a Mobile Home in Florida is this correct?

Posted on Sep 17, 2012 in FHA Information

Question by Jennifer B: I heard that FHA will no longer approve a mortgage for a Mobile Home in Florida is this correct?

Best answer:

Answer by Stimpson J. Cat
I live in Florida (although not in a mobile home) and I haven’t heard that.

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One Comment

  1. FHA will still insure mortgages on manufactured homes. The problem you are running into is that most lenders won’t lend of them regardless. So when a lender tells you that FHA won’t approve the mortgage, what he really should be saying is that his company won’t lend on manufactured homes anymore.
    It’s no different than credit score requirements for FHA loans. FHA doesn’t have a minimum credit score per se. They list out some minimum credit requirements, but not necessarily a minimum score. All lenders though have imposed their own credit score requirements. Some may be at 580, some at 620.
    So you may call one lender and they will tell you that FHA requires a 620 for a mortgage. That’s not really true.. it’s true if you want to use his company, but you can call down the street and you might be able to get approved with your 580.
    To make a long story short, keep calling a bunch of lenders and just ask one question “Do you still do FHA mortgages on manufactured homes” If they say no, move on. Or go on lending tree and put in your criteria and you should be able to find a lender will still do an FHA loan on a manufactured home.