Conventional Loans and Manufactured Homes

Conventional loans have several advantages over FHA.  There is no up front mortgage insurance premium.  Second/Vacation homes are permitted with 10% down.  The monthly mortgage insurance is significantly lower, even if you only put 5% down.  And, an FHA/HUD foundation is not required....though many lenders (not the ones I use) require an FHA/HUD foundation on conventional loans too.  Conventional loans are tougher to qualify for though.  So, when I prequalify a borrower for a manufactured (or regular) home loan, I start with the possibility of closing a conventional loan first....and then move to FHA if necessary.

General Questions?  Use the comments section provided.  Call if you have any specific loan scenario questions.