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Home Buying in Shelbyville : Real Estate Advice

  • All36
  • Local Info2
  • Home Buying5
  • Home Selling2
  • Market Conditions0

Activity 7
Mon Apr 3, 2017
Joel Lobb answered:
GUS approval required. No manual underwrites allowed. 640 Credit score no bankruptice last 3 years or foreclosure last 3 years.
• Second review/signature of the property appraisal is required by USDA
• Refinances and purchase loans. If a purchase must be brand new and from an approved USDA lender dealer
• Manufactured home must be existing construction (permanently affixed to the
foundation and titled as real estate).
• 2-4 unit properties located in a PUD are not allowed.
• No non-occupying co-borrower allowed
• No paying off debt to qualify allowed
• No Mortgage Interest Differential payment income allowed
• Singlewide manufactured homes are not eligible
• Manufactured Housing Condo units eligible
• Manufactured Housing PUD units eligible
• In general, max two acres allowed, but up to five acres allowed only if appraisal
reflects no more than 40% land value
• Must meet all USDA agency requirements
• The following eligibility requirements must be met for all manufactured homes:
• Site development work must conform to standards imposed by the state and
local government.
• The manufactured home must have been built and installed in compliance with
the Federal Manufactured Home Construction and Safety Standards that HUD
established June 15, 1976 and additional requirements that appear in HUD
USDA Product Profile 11 of 46 03/30/17
Guidelines Subject to Change
regulations at 24 C.F.R. Part 3280 as evidenced by the presence of both a HUD
Data Plate and the HUD Certification Label (Tag). Manufactured homes built
prior to June 15, 1976 are ineligible.
• If the original or alternative documentation cannot be obtained for both the
Data Plate/Compliance Certificate and HUD Certification Label (tag), the loan
is not eligible.
• If the HUD tag is missing, a recent "HUD Certification Verification" letter
issued by the Institute for Building Technology and Safety (IBTS) or a copy of
the Data Plate from the In-Plant Primary Inspection Agency (IPI) or
manufacturer must be in the loan file.
• Additional property eligibility requirements for manufactured homes:
• The manufactured home must be secured by both the manufactured home and
the land and both must be classified as real property under applicable state law
and subject to taxation as real estate.
• The manufactured home must be attached to a permanent foundation system in
accordance with the manufacturer's requirements for anchoring, support,
stability, and maintenance. The foundation must be appropriate for the soil
conditions for the site and must meet local and state codes.
• The manufactured home must be attached to a permanent foundation system in
accordance with the manufacturer's requirements for support, stability, and
maintenance. The foundation must be appropriate for the soil conditions for the
site and must meet local and state codes.
• If the manufactured home was installed prior to October 20, 2008, the anchoring
system must comply with the manufacturer's design or a design by a licensed
(registered) professional engineer, otherwise, the anchoring system must comply
with HUD Codes.
• The manufactured home must be built on and remain on a permanent chassis
with the towing hitch, wheels and axles removed.
• Must be a 1-unit dwelling.
• Incomplete items, such as a partially completed addition or renovation, or
defects or needed repairs that affect safety, are not eligible until the work is paid
for and complete. Exceptions may be made for minor items that do not affect the
ability to obtain an occupancy permit – such as landscaping, a driveway, walkway
• The finished grade level beneath the manufactured home is at or above the 100-
year base flood elevation.
Manufactured Home Ineligible Property Types
• A manufactured home that is not titled as real estate.
• A manufactured home that was installed or occupied previously at any other site or
location. The home may only have moved from the manufacturer's or dealer's lot to
the current site of the home.
• Manufactured home is not classified and titled as real property at time of
... more
0 votes 6 answers Share Flag
Fri Oct 7, 2016
John Burke answered:
Hi Pastorleom1,

Unfortunately no. USDA will only work on a new manufactured home on it's own land. The other option would be if the current owner has a USDA loan. Other than these 2 scenarios, USDA will not lend on manufactured homes.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online:
NMLS# 787231
... more
0 votes 1 answer Share Flag
Thu May 7, 2015
Pagieradcliff asked:
I want to delete this fake account set up, I have an account this one was set up on accident now I cannot log out of it... Please help!
0 votes 0 Answers Share Flag
Fri Jun 20, 2014
Carolyn Campbell Peffer answered:
I am currently that agent across the street and found this question very interesting. I would say either the agent isn't into her business 100% or is about done. I love what I do and do everything I can for all my clients, including future neighbors. I'm actually more helpful with the house across the street because I live in that neighborhood. When I was asked about comps, I was able to speak from experience! I have lived and seen it all... including watching all the work that has been done to the home over the last 15 years.

Currently... my new client wrote an offer with me 2 days ago on that house. I was glad to help! :)
... more
0 votes 7 answers Share Flag
Sat Oct 5, 2013
Katie crotzer answered:
A wet heat system is one that uses water or steam lines to heat the home. The systems may have forces air blown over the hot water filled lines to heat the home or a radiant system utilitizing radiators, etc. ... more
0 votes 2 answers Share Flag
Sun Dec 30, 2012
Joel Lobb answered:
Property must meet HUD Handbook 4905.1 & 4150.2 or similar standard. A FHA
roster appraiser can verify adequacy/working order of electrical, plumbing, heating,
water & waste disposal on existing dwellings. ... more
0 votes 3 answers Share Flag
Wed Jan 5, 2011
Phil Rotondo answered:
I have a 32940 for you.
And if needed I'll show you my 32934.
Cheers from Sunny Florida!!
0 votes 2 answers Share Flag
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