One of the most valuable benefits of military service for many active-duty and retired service members is the VA loan, which makes it easier to purchase a home. But with manufactured homes, we get a lot questions on age: how old can a manufactured home be for VA financing? The question has a bit of nuance to it, thanks largely to a handful of eligibility and property standards established by the Department of Veterans Affairs.
In this guide, we will cover the impact of the age of a manufactured home on VA loan eligibility, along with ways to finance a home of any age even if time has taken its toll.
VA Loan Requirements for Manufactured Homes
Mobile homes /manufactured homes are one of the most affordable housing options for veterans. But the V.A. has stringent rules about how to finance them.
To be eligible for VA financing, the manufactured home must:
- Be constructed after June 15, 1976 (when HUD building codes took effect)
- Be permanently affixed to a foundation
- Be classified and taxed as real property
- Meet local and VA appraisal and safety standards
That makes the home not just newer than June 15, 1976, but also modern in terms of housing.
So, How Old Can a Manufactured Home Be?
Technically, a manufactured home must be constructed after June 15, 1976 to be eligible for a VA loan. This date corresponds to the date on which the HUD Code took effect and established federal construction and safety standards for manufactured housing.
Though there’s no official maximum age, homes that are more than 20 years old receive additional scrutiny during the appraisal process and from the lender. The lender will usually want the home to:
- Have a solid foundation
- Be well-maintained and structurally sound
- Retain sufficient value to justify the loan
In reality, most lenders want to see that manufactured homes are newer than 20–25 years; however, there are a few lenders who make wobbly exceptions for older homes.
VA Appraisal and Property Condition
A crucial component of a VA loan application is the VA appraisal, which certifies that the property is safe, sanitary and structurally sound. The appraiser will evaluate the age and condition of a manufactured home and determine whether or not it is in compliance with VA Minimum Property Requirements (MPRs).
The VA can still pass an inspection if the home is older, but has been renovated or well-maintained. However, if there are major problems, such as water damage, a failing roof or foundation issues, the property is ineligible.
What If the Manufactured Home Doesn’t Qualify?
If the manufactured home is too old or in terrible condition, don’t despair you have other options. For instance, maybe it’s time for a brand new home, so you build one specifically suited to your lifestyle with the help of a VA Construction Loan. These loans enable you to buy land and construct a home, even if it’s a modular or mobile home that meets current standards.
Consider Location and Land Ownership
Another major VA loan condition is that the borrower owns the land on which the manufactured home is located. If you’re considering purchasing land for a home, Texas is a fantastic place to buy land and build, due to the low cost of living, affordable land prices, and land variety.
Make sure the land is zoned for manufactured homes and can be titled as real property.
New Manufactured or Modular Homes: A Better Investment?
If the age or structure of a manufactured home becomes an issue, you may want to look into purchasing a modular home, for much of the same price with more up-to-date materials and energy savings.
Modular homes adhere to the same codes as homes that are built on the construction site and are generally more financeable through the VA.
Top Builders to Consider
Choosing the right builder is key when building or buying a new manufactured or modular home. Best home builders in Texas for custom homes, energy efficiency and VA loans Some of the top Texas home builders provide customization, energy efficiency and VA loans.
If you’re looking for more space, consider Triple Wide Manufactured Homes, which provide more space and a floor plan that more closely resembles traditional homes.
Quality Matters: Don’t Compromise on Construction
Even if you’re on a budget don’t settle for anything but the best in terms of quality construction. Homes built poorly can produce costly repairs, and in some cases might be ineligible for VA loans.
Whether you are purchasing a new modular or manufactured home it’s important to choose the best quality home to enjoy for years to come.
Building on Your Own Land
Already own a piece of land? Even with a VA loan, you can Use a Loan to Build a House on My Land. This option enables you to have a new manufactured home on your property in accordance with all of the VA’s property requirements and foundation criteria.
Take Advantage of Interest Rate Opportunities
Check back if you’re interested in a manufactured home and the current interest rates are more of a concern than would be comfortable with the Rate Drop Advantage feature may help. This choice allows you to refinance at a lower rate in the future with little closing costs if rates get better.
This benefit provides flexibility as the market changes, and even reduces the cost of homeownership over time.
Final Thoughts
VA loans present a great opportunity for anyone who has served in the US military or is currently serving to buy a home at a competitive rate, even for manufactured homes. The home has to be constructed after June 15, 1976, and be in good condition, although there are plenty of exceptions if they are older.
If you learn that the home you want doesn’t meet VA standards, don’t give up. With choices like VA construction loan, modular construction, and the industry’s best for Texas new home construction, you can make your dream home a reality with low payments while working with American home loan experts.