Financing manufactured home

[Larry]

My mortgage broker says that FHA requires an engineer to layout a foundation for my home. Why is this required when I have a new HUD home on order and it is being set up to factory specs? Would a conventional loan be more cost effective? I am having runners and a block perimeter wall installed.

[Mac]

Conventional loans usually carry a bit lower rate. FHA has strict requirements for the home's foundation; HUD standards apply to the home itself.

[kirkdavison]

FHA is easier on credit and income as well as allows a higher loan to value (lower down payment). Sometimes the engineer Cert is just something you need to do (and yeas FHA does require it) Cost for an Eng cert on a new home with full FHA plans and specs package will run about $250