Manufactured or modular houses have an appeal to buyers because of their cheaper prices than the standard houses that are built from the ground up. Living in a place such as San Diego, the prices of homes are astronomical so many people find that a manufactured home may be a good investment without breaking the bank.

The first thing that needs to be done however, is to make sure that you are able to get pre-approved by the VA for a manufactured home. Since these types of homes are not the standard, it may prove to be a bit more difficult to obtain a loan especially if your credit score is lower then the average.  The loan terms are also slightly different.  The VA states that the maximum term for a manufactured house with land is 25 years, instead of the usual 30 year fixed rate. Unfortunately, this will boost your monthly payment.

Along with this unique fixed rate, the home must also must adhear to the VA minimum property requirements or (MPRS), comply with all zoning and building codes and be classified and taxed as a real property.  By checking the VA’s standards and aquiring information on their website you may have a better idea of what you may be dealing with if you decide that the manufactured home is the option you choose.

For further questions it is best to consult your lender and they can point you in the right direction and help you decide the options that are best for you.

The San Diego based Chapman Lending Team at HomeBridge Financial is honored to help many veterans utilize their VA home loan benefit each and every year.  We ARE NOT a call center.  Our goal is to provide the best customer service in the industry along with the most competitive rates and fees.

Semper Fi, Dan Chapman CAPT, USMC (vet)

ChapmanTeam@HomeBridge.com          Call (760) 456-7139

Get a Free Rate Quote  –  Start an Online Application

Related Articles

If you haven’t refinanced your home you could be missing out on big savings. In fact, more than eight million homeowners are leaving cash on the table by not refinancing. While this number changes every year, what doesn’t change are the benefits of refinancing, especially as a VA Loan borrower.…
Read More of the post VA Refinance: Understanding Your Two Options

In the last post, we discussed several reasons why a VA Loan may be the right choice for you and your family. In this article, you’ll learn if you’re eligible for a VA Loan and what your next steps are. VA Loan Eligibility In order to be eligible for a…
Read More of the post VA Loan Qualifications: Who is Eligible for a VA Loan?

The VA Loan program was established to help our nation’s veterans and their families achieve the goal of homeownership. It has features unlike any other loan product and, if you qualify, is a great way to help you move into your dream home. VA loans have many powerful benefits, including:…
Read More of the post Why Choose a VA Loan?

One of the best parts of homeownership? You are in the driver’s seat when it comes to choosing home financing options. When it’s time to fund a renovation, you can pick from a variety of different home loans to help serve your needs, wants and goals. As the top-rated renovation…
Read More of the post What Renovation Loan Options Are Available to Me?

We recognize this is a difficult time for many people. Click here or call 866-913-2951 for more information and to learn about current options available to our borrowers.