Manufactured Homes Annual IncomeSingle Family Housing Guaranteed Loan .

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ManufacturedSingle Family Housing Guaranteed Loan ProgramAnnual IncomeHomesSingle Family Housing Guaranteed Loan Program(SFHGLP)November 20201

Manufactured Homes: Authorized Loan Purposes7 CRF 3555.208, HB-1-3555 Chapter 13.6Units Must:HB-1-3555, Chapter 13Section 2LoanPurposesConstructionand SiteRequirementsLoanRestrictionsLoanClosing Have a site that conforms to state and localstandards. Be a new unit in stock that has never beeninstalled or occupied at any other site or location. Have a floor area of not less than 400 squarefeet. Be placed on a permanent foundation. Meet or exceed the FMHCSS standards for thegeographic area the unit will be placed.

Manufactured Homes: Loan Restrictions7 CRF Part 3555.208, HB-1-3555 Chapter 13.7The Agency Will Not Guarantee:HB-1-3555, Chapter 13Section 2LoanPurposesConstructionand SiteRequirementsLoanRestrictionsLoanClosing The purchase of a unit without an eligible site. Repairs not associated with a unit alreadyfinanced by USDA. Furniture or any other movable articles ofpersonal property.o Wall to wall carpeting, refrigerators, ovens,washing machines, etc. are allowed. Additions or modifications other than structuresbuilt to engineered designs.

Manufactured Homes: Loan Restrictions7 CRF Part 3555.208, HB-1-3555 Chapter 13.7The Agency Will Not Guarantee:HB-1-3555, Chapter 13Section 2LoanPurposesLoanRestrictionsConstructionand SiteRequirementsLoanClosing The purchase of a unit moved from a site otherthan a dealer’s lot. Units older than 12 months from date ofpurchase agreement. A unit with a tow hitch or running gear remaining.

Manufactured Homes: Construction & Site Requirements7 CRF Part 3555.208, HB-1-3555 Chapter 13.8HB-1-3555, Chapter 13Section 2LoanPurposesLoanRestrictionsConstructionand SiteRequirementsLoanClosingLender’s Permanent File MustContain: An itemized cost breakdown of the totalpackage. Dealer certification that no cash back will bepaid directly to the applicant. Dealer certification that proposed cost is thefull price of the unit.

Manufactured Homes: Construction & Site Requirements7 CRF Part 3555.208, HB-1-3555 Chapter 13.8HB-1-3555, Chapter 13Section 2LoanPurposesLoanRestrictionsConstructionand SiteRequirementsLoanClosingLender’s Permanent File MustContain: Foundation plan that meets HUD Handbook4960.3 guidelines. Plot and site development plans. Inspections required per HB-1-3555,Chapter 12. Contractor certification that units wereproperly joined and sealed and sustained nodamage during transportation and set up.

Manufactured Homes: Loan Closing7 CRF Part 3555.208, HB-1-3555 Chapter 13.9Additional Closing Requirements:HB-1-3555, Chapter 13Section 2LoanPurposesLoanRestrictionsConstructionand SiteRequirementsLoanClosing Warranty: Dealer must provide the borrower witha copy of all manufacturer warranties. Certifications: Attachments 13-A and 13-B maybe used to document manufactured dealer andcontractor certifications. Real Estate Tax: Unit and site must beclassified, zoned, and taxed as real estate. Title and Lien: Both the unit and the site must beevidenced by a recorded mortgage or deed oftrust.

Manufactured Homes: Pilot ProgramUnnumbered Letter: ec502-Pilot 0.pdfUnit must Have been constructed onor after January 1, 2006.Meet all other criteria setforth in 7 CFR Part 3555and HB-1-3555.Have no alterations ormodifications sinceconstruction in thefactory except for Porches, decks, or otherstructures which were built toengineered designs or wereapproved and inspected by localcode officials are acceptable.States included in the pilot are:CO, IA, LA, MI, MT, NV, NH, NY,ND, OH, OR, PA, SD, TN, TX, UT,VT, VA, WA, WV, WI, and WY.(MS will be added soon!)

LEARNING CHECKS7 CFR Part 3555 / HB-1-355510

QUESTIONManufactured Homes The purchase of a site to place a new manufactured housing unit with apermanent foundation is an eligible loan purpose.A. TRUEB. FALSE11

ANSWERManufactured Homes3555.208(a)(2) and HB 13.6A. TRUE The site and unit must both be part of the collateral. Loans without a site are ineligible.12

QUESTIONManufactured Homes A manufactured housing unit purchase will also include household furnishings suchas sofas and bedroom suites. This is an eligible loan purpose.A. TRUEB. FALSE13

ANSWERManufactured Homes3555.208(b)(2), HB 13.7B. FALSE Moveable furniture and other similar articles are ineligible. Appliances, carpeting, and heating and air units are eligible.14

QUESTIONManufactured HomesManufactured housing units must have a minimum of square feet to beeligible for a guarantee.A. 750B. 500C. 400D. 100015

ANSWERManufactured Homes3555.208(c)(1) and HB 13.6C. 400 square feet Units must have a minimum of 400 square feet of living area. The unit may be single or double wide.16

QUESTIONManufactured HomesPermanent foundations for manufactured housing units must meet .A. Federal Manufactured Home Construction and Safety Standards (FMHCSS)B. International Residential Code17

ANSWERManufactured Homes3555.208(c)(4) and HB 13.6A. FMHCSSAdditional unit considerations include: Meet HUD heating and cooling requirements for the state. Any alterations, such as garages, must also meet FMHCSS. All wheels, axles, towing hitches, and running gear must be removed.18

QUESTIONManufactured HomesA manufactured home is considered new when the purchase agreement is datedwithin months of the unit’s manufacture date.A. 36B. 24C. 12D. 1819

ANSWERManufactured Homes3555.208(b)(3), HB 13.7C. 12 months Purchase agreements must be dated within 12 months of the manufacture dateof the unit. Units may not be moved from a site other than the dealer’s lot.20


Lender Toolkit

ram-regulationsHB-1-3555Navigate throughthese resources andtools like an expert!Take the “ProgramOverview s/handbooksAvailable on theUSDA ng-resourcelibrary23

Have a question onPOLICY?Contact the PAC team!Need TRAINING?Contact the LPA team!Have a question on aSPECIFIC FILE?Contact the OPD!24

HB-1-3555Click to edit Master title styleLender WebpageMonitor posted turntimes dailyDon’t forget to sign upfor GovDeliveryupdates25

Click to edit Master text styles Second level Third level Fourth level Fifth level26

www.rd.usda.gov1 (800) 800-670-6553USDA is an equal opportunity provider, employer, and lender.27

Manufactured Homes: Construction & Site Requirements 7 CRF Part 3555.208, HB-1-3555 Chapter 13.8 Lender's Permanent File Must Contain: An itemized cost breakdown of the total package. Dealer certification that no cash back will be paid directly to the applicant. Dealer certification that proposed cost is the full price of the unit.

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