Options in Financing Manufactured Homes

When you are looking for finance for Manufactured Homes, be smart. There are various options available and the one you choose determines how easy your loan repayment experience will be. All loan types have a different set of advantages. One will be ideal for you. Do your research.

First you need to decide of you want an ARM or a fixed rate mortgage. An ARM is a variable adjustable rate mortgage. In a fixed rate loan, the same rate is charged throughout the period of loan repayment. In the case of an ARM, the loan rate adjusts as the time period of loan repayment changes.

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What is the best way to finance a manufactured home?

Manufactured homes are as popular as ever. People are making a beeline for them. The recession is over and it makes sense to buy one. Some buyers have ready cash. Others have to take out loans. Finding the right lender is a process. Many mortgage lenders do not dole out cash to buy a manufactured home. The FHA Manufactured Home Loan is the only type of mortgage available for manufactured homes, with a few exceptions.

The FHA Manufactured Home Loan is preferred by most lenders. A plethora of opportunites are available for people who opt for this loan. Usually people want a Title 1 loan. This type of loan is advantageous to the lender because it is not based on government support or grants. These loans give home owners a twenty year fixed rate. (more…)

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You Have Wider Choices With Manufactured Homes

The present day manufactured home designs have crossed many barriers and limitations in designing the floor plans, due to the fact that the field of architecture has become wide open to new ideas and innovative structural formations, our forefathers could not even dream of.  This has become possible by the Internet usage, which brings in the world architectural designs to your finger tips.  Unlike the olden days, architects and engineers have no need to toil and moil to design and draw the floor plans laboriously.  Just by the click of the mouse, they are pampered with hundreds of thousands of home designs and templates.

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Are The Manufactured Homes Sturdy? 

This is the question nagging in the back of the mind for many people, especially Americans that are in a dilemma, between owning a home proposal but not sure whether they should go in for a custom home or manufactured home.  To squarely answer this question, we can go in search of examples in England.

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How Advantageous Manufactured Homes Are?

If you are one among those thinking that Manufactured Homes are sought after mainly because of the lower cost, sorry – you did not get it 100% right.  Yes – Lower cost of the Manufactured Homes is a factor to reckon with, but there are other innumerable advantages for going in to buy a Manufactured Home as your residence.

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Facts worth Knowing About Manufactured Home Loans

Mobile Homes or Manufactured Homes are increasingly becoming the buyers’ choice owing to the real estate crisis and recessionary trend of the economy.  What were looked down upon as “trailer homes” once are getting importance now, not only because of their less expensive proposition but also the technology advancements in fabricating beautiful, comfortable and amenity-filled structures towards fulfilling the common American dream.

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Now You Have A Variety Of Manufactured Homes To Select From

Necessity is the mother of invention.  With millions of U.S. citizens, who were proud home owners hitherto, having been rendered homeless due to the foreclosure epidemic, such a necessity has arisen.  U.S. real estate is reeling under the clutches of a sluggish market – to sell the brick and mortar homes – at their real values. Mortgage lenders for these properties are a scared lot. Therefore to fulfill the government’s commitments to provide homes for the homeless, it has usurped the need for concentrating on Manufactured Homes.

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Mobile Home Lenders Are Soft Towards Bad Credit Barrowers

Manufactured homes or Mobile homes have become the order of the day, arising out of the bungling of the real estate market with custom built housing properties.  The investment needed for a Mobile Home, when compared to a traditional brick and mortar home is far less. As such they are within the reach of many middle-income group families and it goes without saying that in a downward economy and rising cost of living saving money for a custom built house in a prime location can never be aspired for by these people.
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Go For a Suitable Manufactured Home Loan

Home loan offers for Mobile Homes or Manufactured Homes are of a different category, from the conventional and custom built homes. This is because Manufactured Homes are movable properties and are treated as Cars and other vehicles for loan purposes.  Though this concept is changing gradually now a days, still most of Manufactured Home lenders go by this traditional thinking.

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Manufactured Housing Loans – Some Basic Facts

The common American dream of owning a house is the back-bone of the U.S. housing market and we can dare say Mobile or Manufactured homes are fulfilling this dream to a considerable extent.  As many as 19 million people are residing in Mobile homes through out the U.S. country, according to reliable statistics, and one out of three new homes purchased presently are Manufactured Homes. (more…)

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