Fannie Mae Manufactured Home Eligibility: Foundation, Utilities and Access
Fannie Mae Manufactured Home Eligibility
A manufactured home can be a path to homeownership, but the home and property must meet financing requirements. If you are buying land and planning to place a manufactured home on it, review the foundation, utilities and access early in the process.
Permanent foundation
The home must be attached to a permanent foundation that meets the manufacturer’s requirements for anchoring, support, stability and maintenance. The foundation must also suit the site’s soil conditions and meet applicable state and local codes.
Utilities and wastewater
The home must be permanently connected to required utilities and an acceptable septic or sewer system, in accordance with applicable requirements. Confirm the availability and cost of these connections before committing to a property.
Road access
The property must have adequate vehicle access. A privately maintained road may be acceptable, but the access and maintenance arrangements must meet Fannie Mae’s requirements, including a legally enforceable agreement where required.
Additions or structural changes
An existing manufactured home with an addition or structural modification may still qualify under certain conditions. The work and the home’s condition need to be reviewed; eligibility should not be assumed before that review.
Planning a manufactured home construction loan?
Spurr Mortgage can help you review the land, home and financing plan together. Jennifer Buffington, Construction Loan Specialist, can discuss the steps involved in financing an eligible manufactured home and preparing the property for installation.
Loan approval and property eligibility depend on the applicable program, underwriting, appraisal and current investor requirements.
