Manufactured Home

Manufactured homes (HUD code) are built in factories to federal HUD construction standards (post-1976) and transported to site. Mobile homes (pre-1976) preceded the HUD code. Modular homes are factory-built but meet local building codes (not HUD) and are installed on permanent foundations. Each is appraised with different methodology and faces different financing options. Misclassification can lead to appraisal and financing problems.

Manufactured homes on permanent foundations with land typically use Fannie Mae Form 1004C. The methodology is sales comparison using other manufactured home sales as comps. Adjustments are made for: home age, size, configuration (single/double/triple-wide), foundation type (permanent vs piers), land ownership (fee simple vs leasehold), and park-vs-private-lot location.

Yes, with conditions. Both Fannie Mae and FHA finance manufactured homes that: (a) are titled as real property (not personal property), (b) sit on permanent foundations (HUD-engineered), (c) were built post-June 15, 1976 (HUD code), and (d) are on land owned by the homeowner or eligible long-term leasehold. Homes in mobile home parks with land lease typically require chattel financing rather than mortgage financing.

Homes in mobile home parks with month-to-month or short-term land leases are typically appraised as personal property, not real property. The appraisal differs significantly — it values the home itself with no land contribution, and comp selection focuses on similar park-located homes. Financing is typically through specialty manufactured home lenders rather than traditional mortgage lenders.

Yes. We appraise manufactured homes throughout LA County for purchase, refinance, estate, and divorce purposes. We work with both real property (titled to land) and personal property (park-located) manufactured homes. The report includes the HUD label number verification, foundation analysis, and appropriate comparable selection.