Singlewide Florida Manufactured Home Lenders
Florida Singlewide Manufactured Home Lenders provide innovative, affordable mortgage offering conventional site-built financing for real-property factory-built homes, which are built to the HUD Code and have the features of a site-built home. When a factory-built home meets certain prescribed specifications, it is granted Florida Singlewide Manufactured Home Lenders certification and is eligible for Florida Singlewide Manufactured Home Lenders financing.
Florida Singlewide Manufactured Home Lenders mortgages secured by manufactured homes help you take advantage of additional options and flexibilities to finance factory-built housing and bring more borrowers to the table. You also have the benefit of site-built underwriting and collateral flexibilities and expanded lending opportunities to Florida borrowers with moderate-incomes.
Singlewide Manufactured Home Loan Features
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Florida Manufactured Home Property Type/Eligible Properties
- 1-unit, factory-built HUD-code home
- Primary residence
- Designed as a single-section or multi-section property
- Meets Freddie Mac Manufactured home minimum specifications.
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Eligible Mortgage Products
- Fixed-rate mortgages
- Mortgages secured by a Florida Manufactured home lenders subject to resale restrictions are eligible for purchase
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Transaction Type
- Purchase
- No cash-out refinance
- If mortgage proceeds are used to replace an Interim Construction Financing, the transaction must meet the requirements of Guide section 5703.12.
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Maximum LTV Ratios
- 95% LTV/TLTV/HTLV
- 97% LTV, 105% TLTV with an affordable second (Home Possible® and HomeOne®)
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Execution Options
Cash, Guarantor, and MultiLender
*Cash Released XChange is not available for Florida Manufactured home lenders properties in Connecticut and New York
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Credit Fees
Manufactured home credit fee in price is waived for a Florida Manufactured home lenders® mortgage
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Delivery Requirements
- Investor Feature Identifier: J15
- Construction Method Type: Manufactured
- Manufactured Home Width Type: Single-section or Multi-section
- Loan Manual Underwriting Indicator: False
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Eligible Offerings
Some included offerings are Home Possible®, HomeOne®, HeritageOne®, CHOICEReno® and Construction Conversion mortgages.
Florida Manufactured home lenders® is an innovative mortgage offering for financing real property factory-built homes, built to HUD
code, but with many of the same features as site-built homes. When a single-section or multi-section factory built
home meets certain specifications, it’s granted Florida Manufactured home lenders certification and is eligible for Florida Manufactured home lenders
financing. That means you can use the same underwriting parameters as for site-built homes
CHOICEHome Specifications
CHOICEHome® is an innovative mortgage offering for financing real property factory-built homes, built to HUD
code, but with many of the same features as site-built homes. When a single-section or multi-section factory built
home meets certain specifications, it’s granted CHOICEHome certification and is eligible for CHOICEHome
financing. That means you can use the same underwriting parameters as for site-built homes.
Minimum roof
pitch of a 4/12 with
minimum of 4”
eaves
Single-Section homes
must have both:
• Covered porch
(72 sq. ft minimum)
• Attached or detached
garage or carport*
to accommodate 1 or
more cars
Multi-section homes must
have 2 of these features:
• Dormer(s)
• Covered porch (72 sq.
ft minimum)
• Attached or detached
garage or carport*
to accommodate 1 or
more cars
* Materials and finish of the
garage/carport should be
the same or comparable to
that of the home.
Permanent foundation
Requirements:
• Meet HUD’s Permanent
Foundation Guide for
Manufactured Housing
• Be engineer designed
and certified for the
specific dwelling
and site
• Include a perimeter
mortared masonry
blocking wall set on
a poured perimeter
footer
• Elevation design
must be a lowprofile/residential
set finished floor set
• Option to upgrade
drywall finishes
• Bath and kitchen
cabinetry with solid
wood or veneer wood
fronts. No
paper-wrapped cabinet
doors or stiles
• Showers and tubs must
be acrylic, composite,
enamel/porcelain coated-steel, fiberglass,
solid surface, or tile
• Minimum insulation
values of 33 (ceiling),
11 (wall), and 22 (floor)
• A programmable
thermostat
• Low-E rating windows
Our CHOICEHome Initiative
• Financing for single-section and multi-section factory-built homes that have the features and aesthetics of site-built
homes. CHOICEHome certified homes:
The CHOICEHome Difference
• Lenders get the additional financing options and flexibility they need to support factory-built housing.
• Manufactures and retailers can expand their client base to more consumers who may not have considered
manufactured housing
• Borrowers get more options and access to high-quality, affordable homes.
Should contain at least one
comparable CHOICEHome
sale; if none are available,
the appraiser must use
site-built sales.
Are financed with as little as
3% minimum down payment for
Home Possible® borrowers and
Freddie Mac HomeOne®
first-time homebuyers. Also
financed using our construction
conversion mortgages.
Meet HUD requirements for
home construction, installation
and setup. Lenders must still
follow local and state laws for
titling manufactured homes
as real estate.
