Manufactured Housing Loans
Good for those buying manufactured homes for owned
land parcels or home communities

The term "manufactured home" was adopted in 1980 by the the United States Congress to describe a type of house that is constructed in a factory to comply with a building code developed by the Department of Housing and Urban Development (HUD). In the past, manufactured homes were called "mobile homes," a term that many people still use. However, "mobile" is no longer an accurate name because fewer than five percent of such homes are ever moved off the owner's original site. Please note mobile homes and double-wides are considered manufactured homes, as opposed to modular homes which are considered "stick built".

Middlestead Mortgage offers construction loans involving land/home purchase for the Modular Home market. Our experience in this area has allowed us to make people's dreams of owning their own manufactured home on their own parcel of land a reality. The term for this type of loan is 30 years with a maximum amount of $333,700.

All manufactured homes must contain a manufacturer's certification (red label) that the home is built in accordance with HUD's construction and safety standards. If you plan to place the manufactured home on land that you own, please check your local regulations and restrictions before you buy. Whether it is a modular home or a manufactured home, we have great programs available.