The FHA loan is a little more flexible when it comes to buying the type of you like townhomes, condos, and single-family homes The FHA mortgages are made for all kinds of properties. the FHA will insure loans that are made for mobile homes if the owner owns the land on which the home will sit. the FHA will also insure loans for vacant land, but the borrower (you) must demonstrate that he will build a home on that property and live in it.