VA Loan Guidelines

Applying for a VA loan in order to purchase a manufactured home or mobile home can be different than the procedure for buying a typical suburban home. The VA minimum property requirements for manufactured homes are part of the reason for this. For starters, the VA will issue a typical “full guaranty” VA loan only for manufactured homes which are to be permanently installed on a foundation. Let’s look at the VA loan rules from Chapter 12 of the VA Lender’s Handbook, which says “This section only addresses manufactured homes which are, or will be, permanently affixed to a lot and considered real estate under state law.” The rulebook adds, “Lenders considering making a loan involving a manufactured home that is not permanently affixed should contact the local VA office for
The process of buying a home with a VA loan includes an appraisal, which is where the borrower has found a property he or she wants to buy, has