Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 20 - Association Loans
Section 20 CSR 1140-20.065 - Manufactured Home Loans

1. New manufactured homes-One hundred percent (100%) of manufacturer's invoice price for each manufactured home and equipment to be installed by the dealer; and

2. Used manufactured homes-Seventy-five percent (75%) of appraised market value or other generally accepted valuation of each manufactured home, including installed equipment.

1. Manufactured home is located at a manufactured home park or other permanent or semipermanent site;

2. Manufactured home chattel paper is payable within twenty (20) years, in monthly payments which are substantially equal except to the extent that the financing complies with other mortgage provisions authorized by this chapter; and

3. Finance amount (excluding time-price differential or interest, however computed) does not exceed-

1. Affixed manufactured homes-If the wheels and axles have been removed and the manufactured home is permanently affixed to a foundation, a loan secured by a combination of manufactured home and lot on which it sits may be treated as a home or residential real estate loan under this chapter; and

2. Unaffixed manufactured homes-If the manufactured home is not affixed in the manner described in paragraph (2)(C)1. of this rule, an association may make a loan secured by a combination of manufactured home and lot on which it is or is to be located if the financing complies with the requirements of paragraphs (2)(B)1.-3. (Conventional Loans) and the loan-to-value ratio does not exceed seventy-five percent (75%) of the appraised value of the lot and lot improvements and ninety percent (90%) of the buyer's total costs of the manufactured home (or valuation of used manufactured home) as defined in paragraph (2)(B)3. of this rule.