Manufactured Home

bthahir · Joined: 05 Sep 2007 Posts: 36 13.22 Dollars($)

Can some one tell me what are the types of manufactured homes avilable in the market? I am aware of only single and double wide trailer.

greg1 · Posted: Tue Jan 29, 2008 1:06 pm Post subject:

Let me go ahead and define this the way it should be defined in the housing industry.

Manufactured Housing: Lender's use this phrase to define a home that is Factory Built. Most commonly Modular, Double-Wide, Single-Wide.

For lending purposes a Single Wide on a permanent foundation considered real estate is almost impossible to finance.

A Double Wide on a permanent foundation considered real estate can be financed easily using an FHA Mortgage. Some Conventional is available but limited.

A Modular is most commonly treated as a stick built home.

The true way this should be defined is "Factory Built Housing"

The types of Factory Built Housing:

Manufactured: This term is considered as a home built to HUD Code.

Modular: Built to HUD code and as close to stick built as you will get. Often considered the same as a stick built in the lending industry.

Panelized: Built in panels then transported to the home site. A whole wall with windows, siding, electric, and doors. Built to HUD Specs.

Pre Cut: Usually a home kit with instructions. Commonly a Log or Dome Home. Most lenders may consider these Unique and cut the amount you are able to borrow.

Mobile: This term is used to define homes not built to HUD Code and produced prior to June 15th of 1976. Financing is hardly available.

Remember these definitions are related to residential properties. A "Mobile Home" that does not have a permanent foundation nor a surrendered title is classified as a titled item. (Mobile House that can be moved)

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Greg,

Great info. This is really helpful info Smile

To the original poster:

I think there are mainly two types of mobile homes are available homes are available in the market. These are Single-Wide and Double-Wide mobile home.

Single-Wide is comfortable and low in price. So this is a great option for temporary housing. Double-Wide is made in two pieces which are attached to one another.

There is another type of mobile home which is known as multi-section manufactured home. This is also known as triple wide. These homes are quite specious.

Best of luck.

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.58 Dollars($)

I suggest that if you do buy a mobile home that you purchase something that is deed as real estate. You can then get more favorable financing from a mortgage lender as opposed to having to go to a mobile home finance company. Keep in mind that mortgage lenders will only lend on double wide homes that are deeded as real estate. There are a few other requirements such as age of the home. I believe that it has be be newer than 1979, but I am not definate on that.

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