NLC Loans can help you buy or refinance a manufactured home so that you can experience what home should feel like. The home must have a red manufactured home HUD tag.Ĭall Us for Your Manufactured Home Financing Needs.The home must have been built on or after June 15, 1976.The home cannot be on a mobile home anchor or have a hitch of any kind.The home must be situated on property that is owned by the home’s owner.The home must be affixed to a permanent foundation.If you have a higher score, you’ll get a better mortgage rate. Your credit report works the same way your school report card didthe higher, the better. The home must be a “double wide (minimum 20 feet wide)” and at least 600 sq feet total Make sure you bring your driver’s license, passport or state-issued ID.However, manufactured homes that can be financed by NLC Loans must meet some basic requirements. You may have caught on by now that manufactured homes can technically encompass either prefab, modular, or mobile homes. Manufactured HUD Certification Label Manufactured Home Differences Mobile homes consist of only one story and are not placed on a permanent slab foundation or a basement foundation. Mobile homes may be found on rented plots of land called “lots” or on land in which the mobile home owner also owns. The primary difference is that mobile homes are considered to be mobile for a reason: they can be moved from one place to another via truck or hitch and they do not get placed on a permanent foundation. Like prefab or modular homes, mobile homes are also constructed in a factory or warehouse in a controlled environment. In most cases, prefab and modular homes do not require special financing as loans for these home types are easily obtained. These types of homes are permanently anchored to the site in which they will be used. These types of homes may have multiple stories and can be placed onto a foundation that either features a basement or is a slab. In other words, a prefab or modular home might contain two, three, four, or even more pieces to complete. Prefab and modular homes are a type of manufactured home that can be made in pieces and then assembled onsite. Modular and prefab homes are constructed in a controlled environment inside a factory or warehouse as opposed to traditionally constructed homes, which are built outside in the elements at the site in which they will be used. These two terms can be used nearly interchangeably. You may have heard terms like “mobile homes,” “prefab” or “pre-fabricated” homes, or even “modular homes.” But in terms of manufactured homes, are all these one in the same? Turns out, there are actually some important distinctions between them. When it comes to manufactured homes, there are a few words that most people use interchangeably to describe them.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |