Udsa Section 502 Pilot

[William Little]

USDA Section 502 Pilot.

If you are appraising a manufactured home for a USDA loan check with the lender to see if it is a UDSA Rural Development Section 502 Pilot program loan. Typically, FHA guidelines are used for USDA loans. If it is under this Pilot program (limited to certain states and certain applicants) there are additional requirements; specifically, the home has to be built after January 1, 2006. I am sending feelers out to the administrator of the program to see if there are any other differences that appraisers should be aware of. You can't make the assumption that a manufactured home qualifies for all USDA loans just because it meets FHA criteria.

 

[William Little]

I tried to edit the post title to correct the typo, but the forum would not let me

 

[Mr Rex]

If I recall correctly, USDA loans on new HUD code homes but not on existing. I may be mistaken and they may have changed their policy.

 

[Terrel L. Shields]

tried to edit the post title to correct the typo,

Titles are opposed to all caps so FHA looks like FHA unless you type it F H A ...It's not your fault and you can't really fix it. Quirk of the site software