Are you looking for a mortgage on a double-wide manufactured house in Mooresville, Cornelius, Huntersville, or anywhere else in North Carolina or South Carolina? We know it’s difficult to find a lender who will finance manufactured housing; that’s why we offer Conventional and FHA mortgages for clients looking to buy a double-wide home.
There are a few things to remember when you are searching for a double-wide to purchase: we are not able to finance a single-wide or any property that is not in excellent condition. Here are other things to consider.
Manufactured Home Checklist
Home was built after June 15, 1976. In order to be eligible for financing, a manufactured home must be built after June 15, 1976, and have a “HUD tag” affixed on each section. Manufactured homes built before June 15, 1976, are not eligible. No exceptions are allowed.
- Concrete footings must be poured in place and be placed below the frost line with anchors tied down.
- The home must have a photo of the HUD tag (found outside) and the HUD Data Plate (paper document found by the electrical panel or in kitchen cabinet).
- The space beneath the manufactured home must be properly enclosed. The perimeter enclosure (skirting) must be a continuous wall that separates the crawl space from backfill, keeping out vermin and water but allowing for proper ventilation of the crawl space.
- The towing hitch, wheels, and axles must be removed. The dwelling must assume the characteristics of a site-built home.
- The property must be permanently connected to a septic tank or sewage system and to other utilities in accordance with state and local code requirements.
Home is a minimum of 600-square-feet.
Home is taxed as real property. The manufactured home must be taxed as real property. No exceptions are allowed.
Borrower has land rights bundled with the unit as security. The lot on which the unit is set must be owned by the borrower as fee simple. Property held as leasehold is not eligible.
Home has never been moved off original site. The manufactured unit must not have been installed previously at any other site or location. Manufactured units may be moved only from the manufacturer’s or dealer’s lot to the site on which the unit will be insured.
If the double-wide manufactured home you need a mortgage for meets these criteria, please contact us today!