Chapter
1
Appraisal
and Property Requirements
Page
1-09a
A Manufactured Home is a structure that is transportable in one
or more sections. In traveling mode, the home is eight feet or more
in width and forty feet or more in length. A Manufactured Home is
designed and constructed to the Federal Manufactured Construction
and Safety Standards and is so labeled. To be eligible for FHA mortgage
insurance, all manufactured home must comply with the following:
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have
a floor area of not less than 400 square feet; |
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be
constructed after June 15, 1976, in conformance with the Federal
manufactured home construction and safety standards, as evidenced
by an affixed certification label in accordance with 24 CFR
Section 3280.8; (manufactured homes produced prior to that date
are ineligible for insured financing); |
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be
classified and subject to taxation as real estate; |
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the
mortgage must cover both the manufactured unit and its site
and shall have a term of not |
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more
than 30 years from the date amortization begins; |
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built
and remains on a permanent chassis; |
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designed
to be used as a dwelling with a permanent foundation built to
FHA criteria; and |
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the
finished grade elevation beneath the manufactured home or, if
a basement is used, the lowest finished exterior grade adjacent
to the perimeter enclosure, shall be at or above the 100-year
return frequency flood elevation. |
Modular construction is also a factory-built home, but is treated
the same as stick-built housing.
For information on FHA Insurance under the Title II Program, see
HUD
Handbooks 4150.2 Chapter 8; HUD
Handbook 4145.1, Rev-2, Section 3-4 and Appendix
11; also see Mortgagee
Letter 97-36. The latter is a revision of HUD
Handbook 4930.3, dated August 1989. The guide and software may
also be obtained by calling (800) 245-2691.
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