Must have been built according to HUD guidelines or received certification from the state in which they were built Co-opsĬo-op is short for Cooperative Housing Project. Must be attached to a permanent foundation Quicken Loans provides funding for modular homes with the following guidelines: Modular homes are more likely to appreciate than mobile homes, which makes them easier to finance. Modular homes differ from manufactured homes (mobile homes) in that manufactured homes are assembled entirely in a factory and shipped to the property as-is. Modular/Manufactured HomesĪ modular, or prefabricated, home is built in sections at a factory and reassembled on-site by a contractor. Please remember to always check with your mortgage lender to ensure they can work with you to find the best fit for your financial and residential needs. It’s important to keep in mind that just because the Department of Veterans Affairs allows for some properties to fall within the qualifications for a VA loan, may not mean your lender will approve it under their terms.
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