Manuf. home Rates are higher because how lender obtain the money to make the loan. For conventional loans Fannie & Freddie bundle up the mortgage notes into a Mortgage Backed Securities then re-sale them on the bond markets. Meaning the…
Read MoreYes age does matter in Mobile/Manuf home lending. Many lenders will not lend on Pre-HUD homes, ie homes manufactured prior to June 15th, 1976. We can and do offering financing on Pre-HUD homes, we do require 25% down payment, but…
Read MoreWith the high cost of homes, many buyers have a tough time saving the required down payment. A mobile home in a park provides an alternative to significantly reduce the cash outlay required for home ownership,.With local purchase prices in…
Read MoreDoes location matter? Yes location does matter. If the mobile home is in a park, there is no land being purchased. Financing is done with a chattel loan, not something backed by Fannie/Freddie.If the home is on a foundation with…
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