BENEFITS OF A MANUFACTURED HOME

Thinking of a manufactured home? Did you briefly put the thought in your head of living in manufactured housing but quickly visions of a dilapidated trailer park appear? Well, think again because manufactured housing isn’t what is used to be. Today, manufactured homes are very similar compared to standard housing and some manufactured homes look almost identical to any other property type because manufacturing technology has improved not only the appearance but the durability as well while keeping costs down.

That’s one of the major draws to manufactured homes—the cost. The average cost of a manufactured home is around $65,000 while the average single family structure is approximately $270,000. Buyers of manufactured homes can obtain all the standard amenities of other homes while keeping affordability within reach.

Manufactured homes are built in a factory on an assembly line and takes much less time to build a new manufactured home compared to a single family residential home. When you decide to go manufactured, you pick out the size, rooms and options such as an outside deck, a garage, vaulted ceilings and front and back porches. Once the order is placed, the factory assembles your order then delivered to your site where installation is completed. Manufactured homes are highly energy efficient, keeping ownership costs down. New manufacturing techniques and green technologies today assemble a high-quality home with low utility bills.

The manufactured home community in today’s markets can compete with any other master planned community. These communities are specifically designed to accommodate manufactured housing with engineered pads where the home is to be placed. These communities offer a community pool, workout facilities and even next to a golf course in some areas.

Financing a manufactured home is readily available. While the manufactured home dealer has their own financing options, there are traditional sources for financing with loans backed by FHA, VA and the USDA. These government-backed mortgage programs provide competitive rates and terms and the approval process is much like any other. You can expect the lender to require an inspection report that addresses the foundation, materials and other requirements but these are easily addressed. VA and USDA loans don’t require a down payment and FHA only 3.5% of the sales price.

If you’ve found that the homes in your area are just out of reach or you don’t like the prospect of higher monthly payments, check out today’s manufactured home. If you haven’t given them a look in a while, you’ll be pleasantly surprised. Even more so when you find out how inexpensive they can be and the value they provide.

For more information or questions about mortgage loans, 
Please visit http://www.mhlmtg.com/ecamp/gmfhome_1228fb

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