can you do a reverse mortgage on a mobile home

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Some lenders don’t do them because of the very specific nature of eligibility on manufactured homes, but if you know that the home meets HUD requirements and you’re prepared to pay a little more for an inspection, there is no reason you can’t apply for a reverse mortgage loan for a manufactured home.

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In order for a mobile home to qualify for consideration of a reverse mortgage loan arrangement, it must meet certain criteria. Unfortunately, the majority of them will not qualify but those that do are typically referred to as "manufactured homes" and these dwellings need to have a Department of Housing and Urban Development (HUD) data.

Can you get a reverse mortgage on a mobile home? A reverse mortgage is not available for a mobile home, since the term ‘mobile home’ refers to those manufactured homes built before June 15, 1976. Such homes lack the HUD tag that qualifies them for financing as outlined by guidelines by the U.S. Department of Housing.

Using a Reverse Mortgage to Buy a Home Some people are under the mistaken impression that you can’t get a reverse mortgage on a manufactured home.That’s not true. The requirements eliminate some kinds of manufactured homes, and the process can be challenging, but, yes, owners of manufactured homes do qualify for reverse mortgages.

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Here are the basic guidelines: Can You Do A Reverse Mortgage On A Manufactured Home. Home should be built after June, 1976 "It can be . single family home, or a Federal Housing Authority-approved condominium, townhome or mobile home, Klein says.

A Reverse Mortgage for Manufactured Homes has strict eligibility requirements dictated by FHA and HUD. Qualifications for FHA financing for manufactured homes are very specific and not all manufactured homes qualify for the HECM (Home Equity Conversion Mortgage) program.

letter of explanation example. can I get a reverse mortgage on a mobile home. – can I get a reverse mortgage on a mobile home, asked by a NewRetirement member, has been answered by a retirement professional or other member. Get answers to your questions about Manufactured Homes, Reverse Mortgages.

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