Increased Maximum Loan Limits for Title I Manufactured Home Loans

Attachment 7a
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WASHINGTON, DC 20410-8000

ASSISTANT SECRETARY FOR HOUSINGFEDERAL HOUSING COMMISSIONER

March 3, 2009
TI-480
TO:

ALL TITLE I LENDING INSTITUTIONS
Attention: Installment Loan Department

SUBJECT:

Increased Maximum Loan Limits for Title I Manufactured Home Loans

Section 2145 of the Housing and Economic Recovery Act (HERA) of 2008, amends the
maximum loan limits for manufactured home loans insured under Title I. The Department has
elected to implement the revised loan limits, as shown below, for all manufactured home loans
for which applications are received on or after the date of this Title I letter.
LOAN TYPE

PURPOSE

OLD LOAN LIMIT

NEW LOAN LIMIT

MANUFACTURED HOME

For financing alterations, repairs and

$17,500

$25,090

IMPROVEMENT LOAN

improvements upon or in connection

$48,600

$69,678

$16,200

$23,226

$64,800

$92,904

with existing manufactured homes
MANUFACTURED HOME
UNIT (S)

LOT LOAN

To purchase or refinance a
Manufactured Home unit (s)

To purchase and develop a lot on which
to place a manufactured home unit

COMBINATION LOAN

To purchase or refinance a manufactured

FOR LOT AND HOME

home and lot on which to place the home

Section 2145(b) of HERA requires the Secretary to develop a method of indexing to
annually adjust Title I manufactured home loan limits. This index will be based on manufactured
housing price data collected by the United States Census Bureau. Subsequent changes in the Title I
maximum loan amounts will be made effective by direct notice to lenders through Title I letters.

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