Information for Single-Family Lending and Real Estate Professionals
Program Announcement

January 18, 2018
USDA Manufactured Homes Now Allowable;
Enhancements to FHA Limited 203K

Great news! As many of you have requested, Lakeview Loan Servicing will now purchase USDA loans for manufactured housing. See below for details.

All the following updates are effective with reservations made on or after today--January 18, 2018.

USDA Manufactured Housing

Lakeview will now purchase USDA loans for both newly constructed manufactured homes AND existing manufactured homes that are included in a new USDA pilot program.

In both cases, requirements include:

Must meet Lakeview and USDA manufactured home guidelines

Minimum FICO 660

Double-wide or larger only

No alterations since construction in factory

New construction: Must also have GUS approve/eligible findings. Follow USDA 7 CFR 3550.73 for full program guidelines (and our manual).

Existing construction: USDA is offering a pilot program for existing manufactured homes. Homes must be constructed on or after Jan. 1, 2006. An additional inspection is required. For full guidelines, see the Section 2 of our manual for Home Advantage or House Key, whichever applies.

FHA Limited 203K Enhancements

Lakeview Loan Servicing will now purchase FHA Limited 203K loans prior to completion of repairs (as long as they are completed within six months). For full guidelines, see Section 2 of our Home Advantage or House Key manual, whichever applies.

Our Home Advantage and House Key manuals have been updated. A new program matrix has been posted.

Questions? Contact Corinna Obar:


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