Manufactured homes are far less expensive than other types of homes and the lessened expense can help you in the loan process. If you were unable to obtain a mortgage for a new home, it may be possible for you to receive a good mortgage with a low rate for a manufactured home. Though not the same as a house, manufactured homes can be spacious and even luxurious, including whirlpools, garages, decks and fully equipped kitchens. Also, all manufactured homes must meet standards set by the Federal Construction Safety Standards Act. According the Federal Construction Safety Standard Acts, all manufactured must be inspected by a state representative or a third-party agency. Refer to the Department of Housing and Urban Development for more on these standards (www.hud.gov).

Current low interest rates can help you afford the manufactured home that you want. Fill out our free short from to contact up to four lenders about your manufactured home loan.

Adjustable rates rise and fall along with certain indexes (ex., Prime Rate, U.S. Treasury Yields, Federal Funds Rate). Over the course of your manufactured home loan, your interest rate will change at the end of each adjustment period. These periods can last one, three, five or ten years depending on your loan agreement. Though adjustable rates can be risky since they are unpredictable, loans with such rates have built in rate caps to ensure you will not wind up own excessive amounts of money. Adjustable rate loans usually have low introductory rates. If rates drop, a borrower with an adjustable rate may possibly spend less money than a borrower with a fixed rate.

There are many types of loans available and you want to make sure that you find the right one for yourself and your manufactured home. Generally, the first element of your loan that you will look into after amount is the rate of the loan. Loans have either a fixed rate or an adjustable rate. The rate that you acquire will depend on your income and credit history.