Financing Manufactured Homes: What You Need to Know

What is a manufactured home? For years manufactured homes were often thought of as synonymous with “mobile homes”, but they have become so much more. Manufactured homes are now a viable option for many families. They face more stringent building codes and are often indistinguishable from traditional homes. Before 1976, mobile homes were financed similarly to cars, but because the perception of what a manufactured home is has changed, there are companies that now offer more traditional home loans. “Manufactured” vs. “Modular” vs. “Mobile” Homes There are many different terms used around manufactured homes and it can get confusing in determining what is meant by a “manufactured” home. One major issue is perception, mobile homes are thought of as low quality, but today mobile and manufactured home construction is regulated by the Housing and Urban Development (HUD) branch of the… Read More