Our offer was accepted on a 2003 manafactured home. 4 bedrooms, 2 baths so on and so forth. well anyway, we were preapproved for 75000 and our bid was accepted at 60000. our realtor sent him the purchase agreement then our guy there (lets call him "Frank").....Frank calls and says congratulations on your bid being accepted, the bad news is we can't give an fha loan on a manufactured home.
So, well the age old question i then decided to ask....exactly why couldn't that have been mentioned the day we got a preapproval then and we would not have looked at a manufactured home. He said i don't know i can't answer that.
well, i was very upset because we have looked at house after house for the past month or so and every thing we have bidded on was out bidded by another. we finally get our bid accepted with the preapproval then bam, this happens. as soon as i hang up with quicken, i call my realtor and told her what he said. she pretty much said, that you can get an fha loan on a manufactured home, esp when it already has a concrete foundation and it's on land. that fha loans are approved all the time for this type of home, the fha inspection had already been done on this home and it passed so that wasn't the issue.
so now we are working with someone else locally which is just something we should have done in the first place and so far so good. we have about 18 days left to get the next step finished, wish us luck i think that it will work out for us. but, don't use quicken loans because obviously they can not be upfront with alot things they need to be upfront about.