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Veterans Administration Offers Manufactured Home Loans

The Veterans Administration (VA) Home Loan allows qualified veterans the opportunity to purchase a home, including a manufactured home, with or without a site, or to buy and improve a site, with no down payment. Although the veteran is required to live in the house, the borrower’s spouse also satisfies the occupancy requirement. The VA will protect a private lender of a manufactured home loan up to 40 percent of the amount (no more than $20,000) if the veteran or a later owner of the home fails to make good on the loan. As military.com tells MHProNews, a veteran may also buy income property, up to four units, providing the borrower occupies one of the units.

(Photo credit: Horizon Land Co.)

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