Some Of The Best One-Time and Two-Time Close Construction Loan Alternatives When Compared To Traditional USDA Rural Development Construction Loans.

Have you considered building or buying a manufactured, modular, or another style home in a USDA Rural qualifying area? They are great options to take advantage of more open space, lower down payments, and typically fewer restrictions in your county for how you can use your land and property.

We would love to discuss why our USDA loans stand out, especially when well-qualified borrowers can request up to *$50,000.00 extra before or after closing to use as they wish. This may make you think differently about your property choices, knowing we have additional lending power and programs available.

With more solid construction, improved style options, and an extremely affordable price point, manufactured homes are quickly becoming one of the most desirable home styles in the United States.

Whether your first house or as an upgrade, the most critical step you can take when buying a home is choosing the right loan at a competitively low rate.

We can finance all-new modular, double, and triple-wide manufactured homes, yet single-wide properties are not eligible.

While Modular Manufactured Homes are typically built in a climate-controlled factory, only manufactured homes are built on a steel chassis, with tongue, axels, and wheels attached when delivered to the site. Manufactured homes have a VIN# and a title to retire at closing to ensure the home is permanently fixed as land and taxed as real property.

Any home not permanently fixed to land and taxed as real property is not eligible under our home loan programs and requires a “chattel loan lender” instead.

Manufactured, Modular, and other “semi-modular-style” SIP Panel, ICF, Kit Homes, Tiny Homes, Metal Homes, Barndominums, Log-Kit, and Foam Homes, provide excellent multi-functional options that make it easy to live just about anywhere you desire.

*We do not offer loans for any property placed on rented land, in mobile home parks, or on family land. We do not offer to finance any property not permanently fixed to land before closing unless under our new build/construction programs for newly manufactured home models. *We do not offer new Dealer Manufactured Home Loans in New York. Modular and Site Built land and home construction is allowed in all 50 states.

USDA Manufactured Home Loan Specialists You Can Trust!

For over 25 years, our team behind Manufactured Nationwide has been helping clients throughout the US finance incredible manufactured and modular properties, making our clients know how much they mean to us for the opportunity to help. We put your needs first to fully understand the USDA Rural Loan process and determine if this is the right program for you.

With competitive interest rates compared to FHA and Conventional financing, requiring zero money down, you can rest easy about your decisions and feel confident we’re on your side.

While many lenders recommend the FHA loan in rural areas, you must put more money down with a higher mortgage insurance premium than USDA Home loans.

There is no comparison to the power of a USDA rural home loan; we offer financing in all 50 states and are ready to pre-approve you for your maximum amount; we can even offer approvals before you have a home picked out. Complete an eligibility form, let us know the maximum amount you wish for, and we will be happy to get started immediately!

The Top 8 Benefits Of Choosing A USDA Manufactured Home Loan Program From Manufactured Nationwide Home Loans.

1. 100% USDA Manufactured Purchase and Alternate options to a USDA Construction Loan via our In-House Two-Time Close Construction for modular, new double, triple, and quadruple-wide manufactured properties on fixed foundations.

2. USDA often carries lower up-front MI Guarantee fees and monthly mortgage insurance premiums than FHA and Conventional.

3. Competitive Fixed Rates with 30-year mortgage terms.

4. Escrow taxes & insurance into one low payment.

5. Financing down to 640 credit scores.

6. The USDA Repair Escrow is a great program, however very limited. Be sure to ask about our “Repair Escrow Alternative-Options” available if the home being purchased needs minor repairs, or ask us about other programs if you need a complete renovation.

7. Our USDA Construction Alternative for a Manufactured Two-Time Close allows you to buy your land, buy your home from the manufactured or modular dealer, and get in with competitive rates, low fees, and very little hassle.

8. Manufactured Nationwide offers qualified borrowers up to *$50,000 extra in unsecured financing before closing to help consolidate debt, lower debt ratios, and increase for higher loan amounts, or 1 day after closing to use these funds as you wish.

These factors, combined with the benefits of the USDA Rural Development Program, make us the most attentive lender for those looking to select modular or manufactured homes.

USDA Has Lower Upfront and Monthly Fees Compared To FHA.

On October 1st, 2017, the USDA significantly reduced their upfront guarantee and monthly mortgage insurance annual premium fees. Like an FHA Loan, the USDA has two types of mortgage insurance they require since they offer 100% financing: an upfront guarantee fee and a monthly fee.

The “upfront guarantee” is the fee added to the purchase or refinance loan amount and financed into your payment. The USDA’s loan backing fee allows lenders to issue loans according to its guidelines.

The upfront guarantee fee before the change was 2.75% of the loan amount, a substantial premium at the time. The “annual fee” was 0.50%, paid in twelve equal monthly installments.

October 1, 2016, the USDA upfront fee has been updated. (As of December 2, 2022, these premiums remain the same as listed below.)

• Former upfront fee: 2.75%

• New upfront fee: 1.00%

The USDA mortgage premium also has been lowered.

• Former annual fee: 0.50%

• New annual fee: 0.35%

Apply For A USDA Manufactured Home Loan Now.

The changes are still in effect. Usually, the USDA reviews financials of previous fee changes annually and then raises, holds, or reduces fees accordingly.

This change attracts new home buyers to these loans. It provides an excellent opportunity to complete a USDA Streamline Assist Refinance to lower the MI and interest rate you are currently paying.

Does Your Manufactured Home Qualify For A USDA Loan?

While a rural home loan may seem perfect to meet your needs, it is essential to understand your options' differences first. Certain restrictions may make one type better, depending on the type of home you want, such as the property's age.

Of course, you do need to confirm your address is in an approved USDA lending area, usually towns with 20,000 or fewer population outside of major cities. USDA requires a manufactured home purchase from an approved dealer to be brand-new, not used or “new, but a few years old.” However, there may be case-by-case exceptions.

However, some states operate a test pilot program that allows purchasing used manufactured homes. You may contact us directly to see if you live in a state with this pilot program the USDA started rolling out in 2017 and has been slowly adopted nationwide. Few lenders will offer the USDA Pilot program, and there may also be other options that give you a more significant advantage. We are happy to discuss this with you.

Why Choose A USDA Loan For Your Modular or Manufactured Home?

Although once viewed as almost cookie-cutter housing, modular homes are quickly becoming one of the most desirable types of homes to buy. Not only for a cost factor (usually lower expense over site built) but also due to typically faster build times, better build quality, greater adoption of upgrades, and technology features.

Because of the luxury of building different parts and pieces in a factory and then transporting them to the property site, modular homes are a convenient way to move into something new on the land you have always dreamed of calling your own.

Modular homes are built to your state’s codes, are often less expensive than houses built on-site, are durable, and increase in value over time.

So check your eligibility today; let us know if you want to request up to *$50,000 extra before or after closing to use as you wish, and we will get started on your approval today!

TOUGH USDA-MANUFACTURED PURCHASE & REFI LOANS DON'T SCARE US!

We Are Dedicated To Helping You Achieve A Great USDA Loan.

Manufactured Nationwide is proud to present hard-working bankers who roll up their sleeves to deliver exceptional solutions. With programs available to those turned down by other banks or needing a focused banker ready to listen and fight for your loan. We stand at the ready, bringing over 100 years of mortgage industry knowledge to achieve your goals. From double to triple-wide, from Barndominium to SIP Panel Construction, you can build, buy, refi, or renovate with Manufactured Nationwide's custom-tailored loans.