Mobile homes, a term often used interchangeably with manufactured homes, primarily refer to homes built before the HUD Code came into effect in 1976. We explore these requirements in more detail below. If the home can’t clear a few more qualifying hurdles, you may need an alternative form of financing. But even if the manufactured home you’re buying was built to HUD’s standards, it may not qualify for a traditional mortgage. Manufactured homes built to HUD’s safety standards usually have a “HUD tag” attached to them. Affordability: Manufactured homes generally offer a more affordable housing option compared to traditional, site-built homes.Ownership: The ownership of manufactured homes can be either on leased land (like a mobile home park), on privately owned land, or on land that is purchased along with the home.These homes are typically single-story and can come in a variety of sizes and floor plans. Sections are transported to the site and then assembled.
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