Mortgages and Financing Manufactured Homes became a little more difficult as the conventional underwriting guidelines changed in 2003.
Now most homes need 433a Occupancy Certificates, issued by the State, like CA, and applied for in the County where the home is located.
In CA, for instance, a 433a Certificate perfects the home title as Real Property, and the County wants money for the School Bonds and permits, if it is new construction.
A 433a Certificate is required for obtaining Real Estate Mortgages.
A 433c is a certificate that shows habitability by attesting to the fact that Health and Safety statutes have been met and the home is converted to real property. The form is required to be signed by the escrow agent and an authorized representative of the resident ownership organization certifying that the applicant(s) is a participant in the resident ownership of the park.
433c indicates a permanent foundation under a Manufactured Home in a Resident Owned Community.
A 433b is just an informational certificate to clarify assessments and ownership, etc.
A 433a is the form that is recorded in the county where the property is located. Although, a 433a may exist and yet be unrecorded.
To see if a 433a was issued by the Building and Safety Department, contact the Department of Housing and Community Development. In Riverside County they are located at 3737 Main Street, Suite 400, Riverside, Ca 92501.
Their phone number is 951.782.4431, which is always busy. You can also contact the County Recorder. Also try 800.452.8356
They also have the forms for the application for the 433a. They can run a search for $8.00, more or less, to see if a 433a was ever issued.
Another way to obtain a copy of your CA 433a or a 413 (same as 433) form is to contact the Riverside County Records Department at 951.955.2021. If you give them the Assessors Parcel Number, shown on your tax bill, they will run a search of your property. If the 433a has been recorded they will find a copy, and ask you to mail them a check for $8.00.
After they receive the check, they will fax you a copy of the 433a Certificate. Of course, you can always drive down and pick it up. But, calling first might save you a trip if one is not recorded.
In California, to put a permanent foundation under your manufactured home may only cost $3,000 to $5,000, but the School Bonds may be more than that. You have to check it out with the County before you begin the process.
When the loan covers a purchase I can get you an installation loan for your manufactured home. Please check with me if a cash out loan is obtainable for your manufactured home. The programs change all the time, and at the present, the permanent foundation costs are considered cash out.
When the home is installed on your property, you can do a Take Out (final) loan and get the best financing you are qualified for.
Please read other financial articles on this website regarding manufactured home financing.
I also have Purchase and Refinance loans for Manufactured Homes, most of them will not work with Stated income. You have to prove that you can pay the payments in the traditional way.
I could go on and on about California Manufactured Home Loans and 433a Occupancy Certificate, so please call or e-mail me so we can talk about your particular situation.
These days it is very difficult to transact any business with the Riverside County Departments. Especially when dealing with Housing and Community Development, it is always best to just go there. Even though there is no line, or waiting customers, you still won’t be able to get them on the phone.