USDA Will Now Finance Existing Manufactured Homes
PRM is proud to offer the USDA Existing Manufactured Home Pilot Program!
Many people would love to have a home with land surrounding them. It can be hard to finance a manufactured home as typically only brand new, and never occupied manufactured homes are eligible for a USDA Rural Development Home Loan. However, the United States Department of Agriculture (USDA) announced a pilot program for financing existing manufactured homes, and Pacific Residential Mortgage is pleased to announce that we’ll be participating in this program.
This means there’s a new, no down payment, 100% financing option available for Manufactured homes.
A USDA manufactured loan is a $0 down payment, 100% financed home mortgage available to homebuyers searching for a manufactured home in their dream location in rural and suburban areas. It’s very likely that a property near you qualifies as 97% of U.S. land mass is eligible for USDA*. Now, with the new Existing Manufactured Home Pilot Program, even more, properties qualify.
- Minimum 640 credit score.
- Built on or after January 1, 2006.
- Must be located in a USDA-eligible area.
- Eligible in Oregon, Washington, Colorado, Nevada, and Texas.
- Must be classified and taxed as real property.
- Doublewide or larger, with minimum 400 sq. ft.
- Structural Additions/Modifications not allowed.
If you want to know if you or a home that interests you qualify for the USDA Existing Manufactured Home Pilot Program, fill out the form below or contact us!
*Some state and county maximum loan amount restrictions may apply.