Will VA Loans Cover Mobile Home Loans?

There’s more than one way to become a homeowner and more than one type of house you can consider buying. The type of home you choose largely depends on your family’s needs and your budget, but for qualified military members, VA loans can make financing the purchase of a house, townhome, or condo a breeze. You just need to start searching online for “VA home loan lenders near me.” But what if you’re interested in buying a manufactured or mobile home? Can you rely on a VA loan to get the job done?

VA Loans Work with Mobile and Manufactured Homes

The good news is, yes. You can use a VA loan to buy a manufactured or mobile home. The mobile home just has to meet construction guidelines and codes set by the HUD. If it doesn’t or the unit you’re looking at is too old, you may need to find a different option. Unfortunately, using a VA loan to buy a mobile home isn’t always as simple as buying a traditional house.

The Unit Must Be on a Foundation

To satisfy all requirements of the lenders you find when searching the internet for “VA home loan lenders near me,” the mobile home MUST be on a permanent foundation. This means you can’t use the loan to finance the purchase of an RV or tiny house on a trailer unless the unit will be permanently installed on a foundation.

Your Lender Choices May Be Limited

Unfortunately, not all VA home loan lenders offer loans on manufactured homes. Remember, when you take out a loan, the bank likes to know that they’ll be able to sell the house if you default on the loan. Mobile homes don’t retain their value or increase in value over time the same way traditional homes do. The best thing you can do is ask each lender you’re getting quotes from whether they allow VA loans for mobile home purchases. If they don’t, you’ll need to keep looking for the right lender.