FHA Manufactured Housing Loan Modernization Act of 2006

The FHA Manufactured Housing Loan Modernization Act of 2006 (H.R. 4804) aims to make it easier and more affordable for Americans to finance manufactured homes through the Federal Housing Administration (FHA). The bill updates the FHA’s insurance program by increasing loan limits to reflect modern housing costs and requiring those limits to be adjusted annually for inflation.

For consumers, these changes are intended to increase the availability of low-interest, government-backed loans for manufactured homes and the lots they sit on. By shifting how the government insures these loans and establishing new financial safeguards, the bill seeks to encourage more banks to offer financing to manufactured home buyers while ensuring the long-term stability of the program.