There are lenders who will refinance manufactured homes. Most people DO NOT KNOW the difference between and manufactured and a modular home, not do most of the lenders. You have to have A1 credit before you can get a loan for a manufactured home. Manufactured homes dont accrue equity, because they depreciate in value similar to a car. It is hard to refinance a manufactured home, unless it is on your own property and it is placed on a permanent foundation. Refinancing manufactured homes is becoming very challenging. Ginnie Mae and Freddie Mac pulled out in the late 90s early 2000s. 14 MILLION were for manufactured homes. Thats about as close to zero as you can get. FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. The loan may be issued by federally qualified lenders. FHA loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.

The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance. FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI insurance.

FHA does not make loans. Rather, it insures loans made by private lenders. As each lender sets its own rates and terms, comparison shopping is important in this market. Second, the potential lender assesses the prospective home buyer for risk.