Financing Manufactured Homes In Hood County

Thinking about buying a manufactured home in Hood County but not sure how to finance it? You are not alone. The rules change depending on whether the home is treated as personal property or real property, and local permitting can affect timing and loan options. In this guide, you will learn the main loan programs, the Texas steps to classify your home, and the local Granbury and county rules that matter so you can plan your purchase with confidence. Let’s dive in.

Loan options that work in Hood County

FHA Title I

FHA Title I can insure loans for a manufactured home, the lot, or both. HUD raised Title I loan limits nationwide on March 29, 2024, which helps buyers in today’s market. You can review the update on the HUD site under FHA Single Family Housing news and updates at the HUD FHA info page and see overall program details on HUD’s Title I page. Not every lender offers Title I, so ask early if they participate.

FHA Title II (mortgage)

If the home is permanently affixed and titled as real property, you may qualify for a standard FHA mortgage under Title II. Expect foundation documentation, HUD label and data plate verification, and an FHA-compliant appraisal.

Conventional (Fannie Mae)

Modern manufactured homes that meet design, foundation, and appraisal standards can qualify for conventional mortgages. Fannie Mae’s MH Advantage outlines key specs and benefits for eligible homes. Learn more on the Fannie Mae MH Advantage page.

VA loans

If you have VA eligibility, some lenders will finance manufactured homes that meet VA property standards. Requirements include permanent foundations and HUD label verification. Lender participation varies, so confirm experience with manufactured homes.

USDA Rural Development

USDA financing can be a strong option in rural areas and often requires little to no down payment. USDA expanded manufactured‑home eligibility with final‑rule changes effective March 4, 2025. Review the agency’s update about broader manufactured‑home financing options on USDA’s program bulletin. Income and location limits apply.

Chattel (home‑only) loans

If the home will be titled as personal property or sited on leased land, chattel loans are common. They can close faster, but they often have higher rates, shorter terms, and fewer consumer protections. The CFPB’s research shows many manufactured‑home borrowers end up with higher‑priced loans, so compare APRs and terms carefully.

Real property vs personal property in Texas

Your financing choices depend on how the home is titled in Texas.

• Personal property: Common for homes on leased land. Often financed with chattel loans.
• Real property: Requires the home to be attached to land you own and an election to treat it as real property. Mortgage options open up when this status is perfected.

To convert to real property status, the Texas Department of Housing & Community Affairs (TDHCA) outlines these steps: update the Statement of Ownership, get any lienholder consent, and file the Statement in county real‑property records, then notify TDHCA and the appraisal district. See TDHCA’s guidance on the Statement of Ownership FAQ and review the statute at Texas Occupations Code Chapter 1201. For Hood County recording, visit the Hood County Clerk.

Key takeaway: The title decision controls your loan options. If you want a conventional, FHA, VA, or USDA mortgage, plan to own the land and convert the home to real property.

Local rules: Granbury and unincorporated Hood County

Inside the City of Granbury, manufactured homes are subject to a HUD‑Code Manufactured Housing zoning district with specific installation standards. Requirements include removing axles and wheels, using a permanent foundation or piers per manufacturer specs, minimum crawlspace, a concrete or asphalt pad, skirting within 30 days, and proper steps and utility connections. You can review the placement and installation rules in the city code here: City of Granbury MH requirements.

Outside city limits, Hood County offices handle filings and local procedures. Coordinate property recordings with the Hood County Clerk. For tax questions after real‑property conversion, contact Hood Central Appraisal District (HCAD).

Step‑by‑step plan to finance your manufactured home

1) Get pre‑approved with the right lender

• Ask if the lender regularly finances manufactured homes and which programs they offer.
• If you are considering FHA Title I, confirm the lender participates and ask about current loan limits, documented on the HUD FHA info page.
• If you want a mortgage, confirm whether the home must be titled as real property before closing.

2) Verify the home’s eligibility up front

• Confirm the HUD certification label and data plate are present and legible.
• Ask for foundation documentation or plan for an engineer’s certification if required.
• Check whether the home meets any program‑specific standards, such as those outlined for Fannie Mae’s MH Advantage.

3) Choose the financing path that fits

• Seeking lower rates and mortgage protections: pursue FHA, conventional, VA, or USDA. This usually means real‑property status and a permanent foundation.
• Buying on leased land or keeping the home as personal property: compare chattel loans and Title I home‑only options. Weigh total costs and protections. The CFPB’s analysis highlights key differences.

4) Plan for permits, filings, and taxes

• Inside Granbury, follow the city’s MH placement and inspection rules, which include skirting and foundation specs noted in the city code.
• For a real‑property election, file the Statement of Ownership with the Hood County Clerk and notify TDHCA and the appraisal district per Texas Occupations Code 1201.
• After conversion, your home is appraised as an improvement to the land. Contact HCAD with tax questions.

Cost and risk checks to do before you sign

• Compare APR, loan term, down payment, fees, and any prepayment penalties.
• Ask about escrow for taxes and insurance, and how insurance is handled for manufactured homes.
• Confirm appraisal and foundation requirements early to avoid delays.
• Review lender disclosures. The CFPB report explains why shopping lenders matters for manufactured‑home buyers.

Ready to move forward in Hood County?

If you want a simple plan tailored to your timeline and budget, let a local expert guide the process from lender introductions to closing coordination. Reach out to Michelle Martin for friendly, knowledgeable help with manufactured homes, land, and single‑family properties across Hood County and nearby markets.

FAQs

Can I get a 30‑year conventional mortgage for a manufactured home in Hood County?

• Yes, if the home is titled as real property, is permanently affixed, and meets program standards such as those on the Fannie Mae MH Advantage page; lender requirements vary.

What is the difference between FHA Title I and a chattel loan?

• FHA Title I is a HUD‑insured program with updated loan limits noted on the HUD FHA info page, while chattel loans are personal‑property loans that often carry higher rates per the CFPB report.

How do I convert my manufactured home to real property in Texas?

• File a Statement of Ownership with TDHCA electing real‑property status, record a copy with the Hood County Clerk, and notify TDHCA and the appraisal district as outlined in Texas Occupations Code 1201.

What does the City of Granbury require for installation?

• The city code requires a permanent foundation or piers per manufacturer specs, skirting within 30 days, a proper pad, steps, and utility connections; see the Granbury MH code section.

Are USDA loans available for manufactured homes in rural parts of Hood County?

• USDA Single Family Housing programs expanded manufactured‑home eligibility effective March 4, 2025, subject to location and income limits; see USDA’s program bulletin.

Where can I find lenders that offer FHA Title I?

• HUD provides program information and resources for Title I manufactured‑home loans on HUD’s Title I page; ask lenders if they actively originate Title I loans.