Wichita House
Anstine -v. Zoning BoardMobile Homes are equivalent to conventional housing
Title 1 of the Housing Act of 1969 provides federal insurance for loans for the purchase of mobile homes. Such a measure guaranteed loan repayment to credit institutions that had been leery of lending money to mobile home buyers, making it easier for first time buyers to secure funds.
In 1973 HUD published a Loan Handbook that outlined these regulations and provided assistance to lending institutions making mobile home loans.
By creating standards for lending to mobile home buyers, the Housing Act of 1969 effectively forces credit institutions to look favorably upon mobile homes as investments. In spite of these improvements, mobile home loans are just that loans. While they are long term arrangements, similar to appliance loans, unlike mortgages they have shorter periods with higher rates of interest.