6. Check on the dealer as you would a builder. Call the Better Business Bureau and see if there have been any complaints against the dealer. The bank that does the financing is another good source of information. Also talk to several past customers and see if they’ve had any problems, and if they would use the dealer again. Continue reading →
Shopping for the Manufactured Home Part (2)
Deciding on the right home for you can be confusing and frustrating. What follows are ten tips to help you make your decision, whether you’re buying a mobile (manufactured), modular, or kit home: Continue reading →
Shopping for the Manufactured Home
After you’ve talked to two or three lenders and gotten their good faith estimates, compare them side by side and select the best deal. Then fill out a loan application and get preapproved for the loan. Continue reading →
Buying the Manufactured Home Part (2)
Your down payment, which may be 10 percent or more. Your assets, and whether you have enough money in reserve for three or more payments. Obtaining loans for all types of housing is getting tougher, so it’s important to maintain a good credit score so you can get the lowest interest rates and the lowest payments. Continue reading →
Buying the Manufactured Home
Once you have considered all the factors involved in buying a manufactured home, and determined its site location, it’s time to focus on financing the home as well as shopping for the home itself. Financing Your Purchase Financing for a manufactured home that is to be mounted permanently on your lot is available through FHA/VA or conventional loans, much the same as a stick-built home. (Note that a home sited on a rental pad may command a higher interest rate and shorter payback time.) Continue reading →