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 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;
and Permanent Foundations Guide for Manufactured Housing (HUD-7584),
dated September 1996 (Mortgagee
Letter 1997-36). The latter is a revision of HUD
Handbook 4930.3G, dated August 1989. The guide and software may also be obtained
by calling: 1-800-245-2691. Construction
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