Mobile Home Vs Manufactured Home

The differences can be hard to distinguish.

Mobile Homes

A mobile home is a home that was built off-site before 1976. In 1976, HUD began implementing their code standards for manufactured homes. Pre-1976 manufactured homes are considered mobile homes. Because these mobile homes were built before standards were in place, they are not eligible for standard financing options like a Conventional or FHA mortgage. There are financing options however. Mobile home financing comes with higher down payment requirements and higher interest rates.

Manufactured Homes

The homes were built after HUD introduced its code standards in 1976. They will have an official HUD plaque much like a VIN number from the DMV. Financing these are straight forward with lots of loan type options.

Owning the Land vs Lot Fees or Space Rent

For both mobile and manufactured Homes it is important to find out if the land that they sit on comes with the sale of the structure. Manufactured homes that are sold with the land have standard financing options. If a mobile or manufactured home is sold without the land, special financing is required. Whenever you see “lot fees, lease, or space rent” you most likely are not buying the property along with the structure. Special financing will be required, and expect higher down payment requirements and higher interest rates. When in doubt talk to a lender to help you navigate these property types.