The Idaho FHA and VA Manufactured Loan programs for refinancing and purchasing homes is a great program that allows borrowers to purchase and or refinance their properties.
Both FHA and VA have loan programs for Manufactured homes. Below are some of the details
FHA/VA Guidelines on LTV’s (Loan to Value) – LTV is the amount of money the lender is willing to lend on the property based off of the purchase price (on a purchase) and the appraised value (on a refinance). Below are LTV’s
FHA Guidelines LTV’s
Purchase 96.5%
Rate and Term Refinance 96.5%
Cashout Refinance 85%
VA Guidelines LTV’s
Purchase 100%
Rate and Term Refinance 90%
Cashout Refinance 90%
Homes built prior to June 15th 1976 do not meet HUD Standards and would not qualify for an FHA/VA manufactured home loan program.
If you have questions pertaining to refinancing or purchasing a manufactured home please feel free to contact me.
Andy Radke
Hyperion Capital Group
Mortgage Consultant
Direct: 208-859-5825
LoanswithAndy@gmail.com
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