They haven't built a " (PRE HUD) Mobile Home" since June 15, 1976. Since then they have been referred to as "HUD Manufactured Homes".
Generally speaking you can indeed get a land/home loan on both a "HUD Manufactured Home" and a "Modular Home" However, a HUD Mfg Home must be placed on an engineered certifies foundation and in some cases will require a California Housing & Community Development Department (HCD) 433a documentation in order to get a long term conventional loan.
The only problem, and it is a significant problem, is getting comps for HUD Mfg. Homes. If you place a HUD MH on a private parcel you run the risk of only being able to find the nearest comps in a "Resident owned" MFG Home condo, sub division or planned unit development (PUD) if there are no other MFG MH comps within geographical proximity to your home.
So if your land/home package is in let's say a $350k neighborhood and the closest comps are in a $150k MH community it's obvious that you would have a very tough time finding long term financing. This is where a lot of folks get stung big time.
They buy the land obtain a construction loan collateralized by the land and build the home. Then when they go for a "take out " long term loan that's when their troubles begin. Unless you're working with a qualified and experienced MH dealer and contractor who's had experience with this type of development you could get yourself in trouble. Many MH dealers are only interested in selling and delivering you a home regardless of what the potential outcome may be to you in the long run.
However, should you purchase a "Modular Home" instead of a "HUD MFG Home" the appraiser would then be able to draw comps from recent local sales of comparable properties and not have to draw from a MH community.
Modular Homes will cost a bit more than a HUD MH but at least you won't have to worry about take out financing. We are a one stop, turnkey family owned and operated Real Estate Brokerage, Manufactured Home Dealer, General & Manufactured Home Contractor, architectural and interior design company with over 100 years of combined experience in San Diego.
We can help you in your search for a lot/parcel, assist you with the selection of your home, prepare your plans for permit, pull any/all required permits, provide a turnkey developed project complete with all necessary site work i.e. grading, excavation, utilities, foundation, installation of your home and all ancillary items and structures i.e. garage, driveway, landscaping, sprinkler systems, patios & patio covers, etc.
Please feel free to contact us anytime at 760 815-6977 or email us at email@example.com. Feel free to log onto any of our very user friendly websites for further valuable and useful information: