Blog Entry

Location of Manufactured Home

Many cities and towns, still relying on outdated perceptions and stereotypes of “mobile homes,” have zoning regulations limiting where you can place a manufactured home. However, more and more urban and suburban governments are recognizing that today’s manufactured homes are virtually indistinguishable from site-built homes and are allowing manufactured homes to be placed in their communities. Before purchasing a manufactured home, be sure to check the zoning regulations in the area where you want to live.

Taken from ~ Manufactured Housing Institute

Manufactured Home Loan Checklist

When you are ready to start your loan application, here is a list of some of the information that will be required. 

◻ Full name, date of birth, and current address
◻ Social Security number, tax identification number, or Matricula Consular de Alta Seguridad
◻ Income and employment information
◻ Home information (year, number of sections)
◻ Property address
◻ If in a community, community name and lot rent
◻ If purchase, loan purchase price and requested down payment
◻ If refinance, amount to borrow and estimate of home/property’s value
◻ If buying from a retail home center, retailer's name

Taken from~ 21st Mortgage Corporation

Manufactured Home Financing

When you are ready to buy a manufactured home, the more you have your financial situation in order, the better off you will be. Depending on the type of loan you are eligible for, it is important that you have money saved for the down payment and closing costs. Be sure you understand your credit score , which is a key factor that lending institutions use to determine the terms of your loan. 

Before you apply for credit, gather your bank statements, pay stubs, tax returns and other financial records. The more prepared you are, the faster you can get the process under way, know the budget you are working with, and get pre-approved.  The best way to determine your budget is to get pre-approved by a lender. This will help you know how much you can afford based on your income and your current financial situation.

Additionally, most banks have a mortgage financing checklist that will likely be applicable to most types of manufactured housing loans to help you through the process.

Taken from~ Manufactured Housing Institute