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).
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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.
The number of people who have chosen the comfort of a manufactured home would probably be a surprise many people. Improvements in construction and comfort of manufactured homes have caused a boom in the amount of people interested in owning such a home. Amenities such as walk in closets and vaulted ceilings give manufactured homes a look and design that one would not expect. Also, advantages such as tax deductions, lower cost, and easier maintenance make manufactured homes more and more desirable. Apply online to contact up to four lenders about manufactured home loans.
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.