The Mortgage Sensei

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The Mortgage Sensei
Manufactured home refinance

Manufactured Home Refinance

Refinance a manufactured home that sits on a permanent foundation and is titled with the land. Check the basic rules and estimate your savings.

  • Permanent foundation
  • Land and home together
  • Rate and term refinance

Your loan and the new one

Sample figures, edit freely
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yrs
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New loan term
Years you will keep the loan

Mortgage insurance, if your program requires it, is not included. Check it against the program you choose.

Estimated monthly savings

$0/mo

Current payment
$0
New payment
$0
Break-even
$0
Net after 5 yrs
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Talk through your numbers

Estimate only. Payments include principal and interest, not taxes, insurance or mortgage insurance. The net figure compares total cost over your time horizon, including the balance still owed.

What lenders look at

  • Permanent foundation. The home is permanently affixed to a foundation that meets program guidelines. A foundation certification may be required.
  • Real property. Home and land are owned together and titled as real property, not personal property.
  • HUD code. Homes built on or after June 15, 1976 carry a HUD data plate and certification label.
  • Size. Programs set minimum sizes. FHA, for example, generally asks for at least 400 square feet.
  • Appraisal. Value is set by an appraiser who knows manufactured housing.
  • Program. Conventional, FHA and VA loans can finance manufactured homes that meet guidelines. Loan to value limits are often lower than for site-built homes.

Checklist

Four things to confirm first

If these line up, a refinance may be possible. Duane can tell you which program fits.

  • HUD data plate
  • Permanent foundation
  • Land and home titled together
  • Single-family use

When it can make sense

  • A lower rate. If rates are below yours, the savings can add up. Check the break-even.
  • A shorter term. Moving to a 20 or 15 year term can cut total interest if you can handle the payment.
  • Retitling the home. Converting to real property can open more loan options.

Manufactured home FAQ

What if the home sits on rented land?

Homes in a land lease community are usually financed as personal property loans, which have different terms and often higher rates. Most mortgage programs need owned land.

Can I refinance a home built before 1976?

Generally not through the main mortgage programs. Homes need to be built to HUD code, on or after June 15, 1976.

Do I need a foundation certification?

Often yes. Programs may require an engineer's report that the foundation meets HUD guidelines.

Can I take cash out?

Some programs allow it with lower loan to value limits. See the cash-out refinance page for how it works.

Are rates higher than for site-built homes?

Pricing can run a bit higher, depending on the program, credit and loan to value.

Does a single-wide qualify?

Eligibility varies by program, so ask before you assume.

More refinance and equity options

Cash-out refinanceFHA streamlineUSDA streamlineHELOCReverse mortgageRefinance calculatorClosing cost estimator

Where Duane lends

Areas we serveContact Duane

Duane Buziak, NMLS #1110647. Licensed in VA, FL, TN, GA, NC, SC, MD, DC, WV, TX and KY. Brokered through Coast2Coast Mortgage, NMLS #376205. Verify licenses at nmlsconsumeraccess.org. For illustration only. Not a loan offer, commitment or rate quote. Equal Housing Opportunity.