Manufactured homes.

CFR · 2024-01-01 · US · Title 7

With the exception of the restrictions and additional requirements contained in this section, section 502 loans on manufactured homes are subject to the same conditions as all other section 502 loans. (a) (1) Purchase of an eligible unit, transportation, and set-up costs, and purchase of an eligible site if not already owned by the applicant; (2) Site development work in accordance with 7 CFR part 1924, subpart A: (3) Subsequent loans in conjunction with an assumption or sale of an REO property; or (4) Subsequent loans for repairs of units financed under section 502. (b) (1) An existing unit and site unless it is already financed with a section 502 loan or is an RHS REO property. (2) The purchase of a site without also financing the unit. (3) Alteration or remodeling of the unit when the initial loan is made. (4) Furniture, including movable articles of personal property such as drapes, beds, bedding, chairs, sofas, divans, lamps, tables, televisions, radios, stereo sets, and other similar items of personal property. Furniture does not include wall-to-wall carpeting, refrigerators, ovens, ranges, washing machines, clothes dryers, heating or cooling equipment, or other similar items. (c) (d) (e) (f) (g) (h)

official document · source cfr-2024 · id 7:§ 3550.73