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Mortgage Insurance Combination and Manufactured Home Lot Loans
The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.
For additional information, individuals are encouraged to contact the FHA Resource Center by phone at 1-800-CALL-FHA (1-800-225-5342), by email at answers@hud.gov or visit the FHA Resource Center site at http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ.
Selected Recipients for this Program
| Recipient | Amount | Start Date | End Date | |
| Rural Community Assistance Corporation | $ 194,439 | 2021-07-01 | 2022-09-30 | |
| Neighborhood Reinvestment Corporation | $ 631,701 | 2021-07-01 | 2022-09-30 | |
| Housing Action Illinois | $ 169,754 | 2021-07-01 | 2022-09-30 | |
| Neighborhood Stabilization Corporation | $ 306,611 | 2021-07-01 | 2022-09-30 | |
| National Community Reinvestment Coalition, Inc. | $ 454,057 | 2021-07-01 | 2022-09-30 | |
| Unidosus | $ 243,439 | 2021-07-01 | 2022-09-30 | |
| Rural Community Assistance Corporation | $ 89,537 | 2020-10-01 | 2022-09-30 | |
| National Community Reinvestment Coalition, Inc. | $ 160,485 | 2021-09-01 | 2022-09-30 | |
| Neighborhood Stabilization Corporation | $ 62,551 | 2019-10-01 | 2022-09-30 | |
| Rural Community Assistance Corporation | $ 413,248 | 2020-10-01 | 2021-09-30 |
Program Accomplishments
Not Applicable.
Uses and Use Restrictions
HUD insures lenders against loss on mortgage loans.
Insured loans may be used to purchase manufactured homes and lots for buyers intending to use them as their principal places of residence.
The maximum mortgage amount is $92,904 for a manufactured home and a suitably developed lot and $23,226 for a developed lot only.
The lot must be appraised by the HUD-approved appraiser.
Eligibility Requirements
Applicant Eligibility
All persons are eligible to apply.
Beneficiary Eligibility
Individuals/families.
Credentials/Documentation
Documentation regarding the characteristics of the manufactured home unit, HUD-approved appraisal of the lot, and the qualifications of the borrower are submitted to the lender. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
Aplication and Award Process
Preapplication Coordination
Preapplication coordination is required.
Environmental impact information is not required for this program.
This program is excluded from coverage under E.O.
12372.
Application Procedures
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Application is submitted to a HUD-approved lender for review and approval.
Award Procedures
See Application Procedure.
Deadlines
Not Applicable.
Authorization
National Housing Act, Title I, Section 2, as amended, 12 U.S.C. 1703.
Range of Approval/Disapproval Time
Lenders must submit loans to HUD for a pre-closing test approval period, which will average 3 to 5 days for complete submissions. Upon successful completion of the pre-closing test phase, a lender may then be authorized to participate in the Title I Direct Endorsement Program. HUD has no other participation or regulation over the lender approval processing time.
Appeals
The applicant may reapply.
Renewals
Not Applicable.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
The maximum loan term is 20 years plus 32 days for a manufactured home and lot; 25 years plus 32 days for a manufactured home and lot combination; and 15 years for a lot only. Method of awarding/releasing assistance: quarterly.
Post Assistance Requirements
Reports
Not Applicable.
Audits
Not Applicable.
Records
Lenders are required to service and maintain records in accordance with acceptable lending practices of prudent lending institutions and the HUD regulations.
Financial Information
Account Identification
86-4077-0-3-371.
Obigations
(Sale, Exchange, or Donation of Property and Goods) FY 15 Not Separately Identifiable(Exp: reported under 14.110); FY 16 Not Separately Identifiable(Exp: reported under 14.110); and FY 17 Not Separately Identifiable(Exp: reported under 14.110) - Reported Under 14.110 for Fiscal Years 2009 through present.
Range and Average of Financial Assistance
The maximum mortgage amount is $92,904 for a manufactured home on a suitably developed lot and $23,226 for a developed lot only.
Regulations, Guidelines, and Literature
Not Applicable.
Information Contacts
Regional or Local Office
None. For additional information, individuals are encouraged to contact the FHA Resource Center by phone at 1-800-CALL-FHA (1-800-225-5342), by email at answers@hud.gov or visit the FHA Resource Center site at http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ.
Headquarters Office
Wanda L. Sampedro 451 7th Street, SW, Washington, District of Columbia 20410 Email: answers@hud.gov Phone: (800) 225-5342.
Criteria for Selecting Proposals
Not Applicable.
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