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I'm considerung buying a manufactured home and would be very thankfull to hear from the people who a

I'm considering buying a manufactured home as a cheaper alternative and would be very thankfull to hear from the people who already own this type of properties all the pro's and con's.
  • August 17 2009 - Hancock
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Answers (4)

As far as financing goes there are some very user friendly Manufactured Home lenders that really know how to get the job done is a very courteous, swift and painless manner.

Try contacting :http://www.themanufacturedhomelendingsource.com/

However, they only specialize in resident owned (land and home) financing. We've worked with these folks for a number of years and know them to be very honest and reputable. If they can't help you then I don't know anyone who could.

This is not my company and we receive no compensation or referral fees from them so I hope this will not be construed as self-promoting by Zillow management.
  • August 25 2009
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Manufactured Homes are a great investment as long as they are located in a desirable area and they were manufactured after June of 1976. That's the cut off for most financing whether their situated on resident owned property or in a rental development like a park. Personally, I've bought, sold and currently own several manufactured homes and I've never lost a dime on one yet. I prefer resident owned vs. rental, however, because you do own the dirt and you don't have to be worried about greedy landlords.

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  • August 24 2009
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I know that some Manufactured homes are nearly identical to a stick built home, but they are completely different when it comes to financing.
Houses have sufficiently depreciated enough to be affordable throughout the country.  I would not go with a Manufactured because they are not as financiable as other properties.  This means that you may have issues buying and selling the property.  And your appreciation will not be as great as a regular SFR. 
  • August 17 2009
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I looked into it at one point, and found that their is a price top limit to what banks will loan on them. Because of this, they did not climb as high as regular homes and were the first to fall, along with the condos.

I personally would not do it.
  • August 17 2009
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