Manufactured Homes: Difference of Living in a Manufactured Home Park and Private Owned Land

Posted by Legendary Homes on June 14, 2014 in Modular Homes with No Comments Yet

Setting up manufactured homes require your decision on where to place them. Is it in a community or park? Or do you prefer your manufactured home in a private own land?

Manufactured homes are factory built houses that are considered as an excellent alternative for an exensive stick built homes. The process of building them are faster and efficient. They are also produced in high quality because their manufacturers follow the rules and regulations set by the Department of Housing and Urban Development or HUD. Most owners of manufac tured homes say that they bough their houses in amuch less cheaper cost than the conventional homes.

Manufactured homes are commonly found in parks and communities owned by either the government or private individuals. But because of the innovations and ammendments on their construction, they can now be built in a private land.

Manufactured Homes in Parks

Often manufactured homes are situated in parks. Many states or regions have their own manufactured home parks that house the many residents for years.

Living in a community of manufactured homes is quite exciting. You get to interact with many people and other outsiders. You just have to pay only for the rent and utility bills per month, which make it more convenient for low income individuals in any state.

However manufactured home parks and communities have their own set backs. Home owners must ensure that they have to follow the guidelines set by park owners for them. Other park owners set the rules that each home owner must pay diligently and on time. Some even collects maintenance fees every month to ensure that common areas such as the bathroom and toilet are clean and fresh.

Manufactured Homes in Private Property

Many home owners have testified that having a manufactured home in a private land is more convenient than placing it in parks. They said that if you wish to have a more private and peaceful lifestyle, you choose this new strategy.

Manufactured homes erected in a private lot is usually owned by those who prefer not to spend money on monthly rent. Most of the owners have said that this is more opportune and inexpensive way to own a home. You may spend large amount of money in the building process, but you can save big time in the years to come.

Another benefit of having a manufactured home in a personal land would compel lots of potential buyers, who always on the look out for a home built in private lots. It can also increase the sale price of the house.

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Topic: Manufactured Homes

Understanding the Importance of Land Ownership for Manufactured Home

Posted by Legendary Homes on June 14, 2014 in Modular Homes with No Comments Yet

There are a lot of misconceptions and confusions about the infamous manufactured home. Some still perceive them to look like trailers with wheels. Others find it hard to believe that a manufactured home can also be situated in private owned land.

Though manufactured homes can still seen in parks and manufactured home communities, lots of them are built in permanent and owned land nowadays. The Department of Housing and Urban Development or HUD have ammended their rules and regulations recently that it was stated that home buyers can choose to have their own land. This is a convenient way for home owners because it brings a lot of benefits.

Manufactured Home are Free from Rent

When a manufactured home is in the park or communities, its home owner is expected to pay the rent and other maintenance fees every month to the park owner. This maybe convenient for some but if you foresee the bigger picture, you realize that you are doing it wrong. Paying every month for many years will also eat your income especially if economy is not favorable. Thus, when put your home in your own lot, you are free from paying the monthly rent.

More Monthly Savings

Manufactured homes built in a private owned land require large amounts of money at first. The cost of land is not cheap so take note of this. But in the long run, you can save more every month if your home is situated in your own land. Imagine sum of the monthly rent you’re supposed to pay to the park owner if your house is in the manufactured home park. You may see that the large sum of your annual income will just go to the rent and other bills. But if you have your own land, you are free from the burden of the rent fee. All you have to worry is the electric and water bills plus the maintenance of your manufactured home.

Easier Loan Approval

Lenders have huge fear whenever home buyers will apply for a manufactured home loan. They see you as a risk even if your credit score is better than anyone else. One of the recommendation of home dealers is to own the land, which give the lenders the confidence that you have the capacity to pay the monthly mortgage rate. Often they will make your land as a collateral for your loan.

Attractive to Buyers

It is good when your manufactured home is placed in a private owned land because when you put it on sale, potential buyers will came running into you. The sale is also higher because it is only the house you are selling. Placing the land on sale together your manufactured home adds to the overall selling price.

Though land is exensive, your one time payment harvests many benefits in the long run. You need not to onder over the issue if you work with an excellent manufactured home dealer, who’s dealer specializing in permanent home ownership.

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Topic: Manufactured Home

Benefits of HUD Code to Manufactured Homes in Jackson, Michigan

Posted by Legendary Homes on June 13, 2014 in Jackson, Modular Homes with No Comments Yet

Manufactured homes are among the types of homes that people in Jackson, Michigan choose to live with. And there are some considerations that you need to learn before deciding on investing into this home.

The Federal law regulated and implemented by the Department of Housing and Urban Development (HUD) governs the construction of manufactured homes. It is called as the HUD Code. Its purpose is to monitor how manufacturers are utilizing building solutions and materials. The code also makes sure that the erected houses serve utmost protection to its owners especially during storms.

A manufactured home is one of the alternative housing strategy that most of the people in the United States opt to. It is an abode where they rip several advantages, which are concentrated to assist almost everyone own a house of their own.

Inexpensive Building Process of Manufactured Homes

With HUD, building or buying of manufactured homes in Jackson, Michigan is inexpensive. The average price range of $45 to $85 per square foot is most convenient when you worry about your pocket’s content. Its inexpensive cost is also rooted from the bulk and discounted buying of materials and appliances that manufacturers are practicing. The lower cost is then channeled on the overall price of the home.

Financing of manufactured homes is also available for those who have no enough resources to finance the building process. There are lots of lenders nowadays that accommodates manufactured homes because the construction is faster, and the cost overrun is much lower than stick built houses.

Increased Quality Manufactured Homes

Because of the comliance to the HUD code, manufactured homes are quality built. Materials and products are thus far bought in high quality, leaving a efficient result when the construction is completed.

The experienced and trained workers are also the key factor in the production of high quality manufactured homes. They are doing their job efficiently that they gain increased productivity with lower construction wastes. They also follow the construction schedule to finish the home in the alloted time frame.

Enhanced Durability and Strength

Manufactured homes are built to be as durable as the stick built house. Its manufacturers are apply materials such as insulated walls to allow the house to stand longer than its exected life span. The advanced solutions integrated during the construction are also enhancing their strength and durability. As a result, most of these houses esecially those situated in the storm path are able to stand against the lashes of hurricanes or tornadoes with little to moderate damages. The repair and restoration costs are decreased because of these characteristics.

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Topic: Manufactured Homes

Local Banks Offering Manufactured Home Financing in Jackson, Michigan

Posted by Legendary Homes on June 13, 2014 in Modular Homes, Mortgage Lenders with No Comments Yet

What are the banks that grants manufactured home financing in Jackson, MI? How does one start applying in their home loan services?

Financing a Manufactured Home

There are a number of local banks that assist home buyers in realizing their dreams. Most of these banks offer different services for their clients. Some are specializing in manufactured home financing.

Local banks specializing in manufactured home loans are often known to partner with excellent home builders in the neighborhood. They typically called upon by home builders whenever their clients need assistance to finance the purchase or construction of their home.

Manufactured Home Financing in Michigan

Michigan is one of the states that house lots of banks and mortgage lenders offering manufactured home financing. These lenders have their distinct targets in providing loans.

In Jackson, the known local bank that work with manufactured home or modular home financing is County National Bank or CNB. Known for its excellent banking since 1934, CNB has been awarded the recognition to help those in need especially in home financing in Southern Michigan. The bank has various services that aid its clients to a better future. But because of the increasing demand of manufactured homes in the county, they are now helping buyers of this housing facility.

CNB is among the leading manufactured home loan lenders that serves following quality and excellence. They determine what is the right manufactured home loan is right for you even if you are purchasing an existing manufactured home or building your own abode in a private or rented lot. To serve many people, they offer the lowest manufactured home financing rate.

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Topic: Manufactured Home Financing

How to Successfully Passed the Manufactured Home Financing Process

Posted by Legendary Homes on June 13, 2014 in Modular Homes, Mortgage Lenders with No Comments Yet

The FHA has been ensuring the manufactured home financing process is done accordingly.The agency does not provide the money for the loan, rather they see to it that the loan is insured. They approve the lenders to give the loan to eligible borrowers, thereof.

Manufactured home financing is often feared by most lenders and borrowers because of the home’s depreciating value. Some even finance the buying and construction process with their own money. But there are lenders who specializes in this type of home financing. Usually they work together with the home builder in your locality or in a location where you wanted to place your manufactured home.

To be approved successfully by the manufactured home financing lenders, borrowers must know first what are the key attributes of an eligible manufactured home.

Meet the Model Manufactured Home Installation Standards

The Model Manufactured Home Installation Standards is the lowest standards implemented for the installation of manufactured homes. It include methods for performing specific operations or assembly of a manufactured home that will not take the home out of compliance with the Manufactured Home Construction and Safety Standards. It is the basis of manufacturers during the construction process as it leads to the production of quality built manufactured homes. The house must also be ensured to protect its residents and its neighbors against accidents or unwanted circumstances that may cause harm.

One- Year Manufactured Home Warranty

For the manufactured home to be considered by lenders, it must be covered by a one year warranty. Manufacturers are usually offering this time frame to most of their manufactured homes. The warranty covers the repair and renovation of any parts of the home seen within a year after its completion. This must be ensured by home owners beforehand with their manufacturers or home builders if they are wary about home warranty and insurance.

Placed in a Site Qualified for Manufactured Home Financing

Before applying for manufactured home financing, check the location of your home. Is it situated in a dangerous soil or near a cliff? Does your location frequently visited by extreme weather disturbances?

Some lenders are in doubt to approve your loan application when your manufactured home is located in a permanent or private owned land that is deemed to threaten the structure of your house. They fear that they may waste their support if bad circumstances happen. Your location also put your home insurance into a disarray.

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Topic: Manufactured Home Financing

Criteria Used in Manufactured Home Financing

Posted by Legendary Homes on June 12, 2014 in Modular Homes with No Comments Yet

A manufactured home financing aids a person in his purchase or building process. It is a tool that enables every home buyer to successfully own a home even he’s short of budget. But sometimes they are face by some dilemmas like the credit score and other requirements when applying for a home loan.

Lenders are meticulous when it comes to manufactured home financing. They ensure that each applicant meet the criteria and requirements they have set for it. Though they accept everyone, they are certain to give emphasis on the importance of dealing with a low risk borrower instead higher risks ones. That is why, they have set a number of criteria when a borrower applies for a manufactured home loan.

Collateral for Manufactured Home Financing

Typically, your manufactured home is your collateral when applying for a loan. It is recommended that you choose a floor plan or layout that is worth applying for a financing loan. This is because some lenders select the type of manufactured home that is up for a loan.

You may find a number of manufactured homes in your home builder’s portfolio and you may ask him if he works with a mortgage lender if you wish to apply for a financing loan. Often home builders work with mortgage lenders they trust so you are confident that they can build your home.

Capacity to Repay

Ones capacity to repay what he borrowed is an important tool to have a successful manufactured home financing. Lenders are ensuring that the borrower can pay what he ask. Before they approve the application they check and evaluate your housibg expenses and overall credit to your monthly income. They also see to it that the borrower has enough money for the downpayment and closing costs. Lenders have the power to determine and verify your funds, and resources from bank accounts, mutual funds, and stocks. They also check the gifts from your friends and family as well as the sale of an existing home if you have one.

Lenders do not take huge risks when it comes to manufactures home financing that’s why they have a strict policybof checking your capacity to repay.

Credit Score for Manufactured Home Financing

This criteria is maybe difficult to understand especially for first time buyers. A credit score is determined by lenders by checking your payment history, credit card use, and debt payment history. They evaluate if you pay on time or delayed for days or weeks. A good borrower pays his debt on a regular basis or as stated on the scheduled payment.

The average range of credit score that is better for the lenders runs between 620 to 800. Lower than this alerts lenders that you are a risk.

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Topic: Manufactured Home Financing

Other Costs Involved in Buying a Manufactured Home

Posted by Legendary Homes on June 12, 2014 in Modular Homes with No Comments Yet

Considering other costs involved when procuring a manufactured home is important. This would help you in determining how much is needed to complete the process. The costs would also assist your identification on what other factors influences the overall price of a manufactured home.

Moving Costs of Manufactured Home

When you move into your new manufactured home, you need to consider the packing and transporting costs of your belongings. If you are in the city and you have positioned your manufactured home in the countryside, you should expect transport services to charge higher. Also some truck rental have maximum weights to carry, which should alert you to ensure that you have told them how many are your things.

Utility Costs

Your electricity and plumbing system eat fees as well. When connecting them to their source expect that their respective companies charge your pockets. If you are far from the source, you may need to add some cash for them.

Utility costs is also seen to be higher especially when your place is new. Your provider will charge for the attachment fee and labor cost for first timers.

Appliances of of Manufactured Home

Because of your new and spacious place, you may need to buy new appliances and furniture. These things have their own prices. Some are cheap, while others are pricey. Filling your new manufactured home with these things is tedious and can cause wieght loss for your pockets or wallets. But if you look into some thrift shop around town, you may find a certain furniture at a reasonable price but still has its quality. may need to purchase appliances or furniture for your new home.

Maintenance and Renovations of Manufactured Home

Manufactured homes also need maintenance and at some point in time, a good renovation. Maintenance would mean clearing the roof with fallen tree branches, and leaves; cleaning of gutters; and changing or windows. It could also mean for the repainting, or fixing or replacing pipes or wires. These things may cost you small amount of money but having those done make a big difference for your home. In home maintenance, one percent of the overall cost of the house must go to it every year.

Manufactured Home Insurance

A manufactured home insurance covers both your house and its valuable contents. It protects you from paying large amounts for repairs and renovatIons following a storm, earthquake, theft or accidents. And you have it along with your mortgage. The payment you make every month or as scheduled by your lender should also be part of your monthly budget. This is to ensure that you do not miss the payment, or else your home will be taken from you.

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Topic: Manufactured Home

Cost of a Manufactured Home in Adrian, Michigan

Posted by Legendary Homes on June 11, 2014 in Adrian, Modular Homes with No Comments Yet

Manufactured home has been around for decades. It has been called to be trailers and mobile homes. And as the years of demand, it has evolve into a more durable, sturdy and high performance dwelling.

One of the features that took a change is the removal of wheels. Most manufactured homes today are attached to a permanent chassis. They are also placed in private and permanent land despite the presence of several parks or communities in every regions of the United States.

In the search for a home dealer or manufacturer in Adrian, buyers are also vigilant on how much is the cost of each manufactured home. They also take note of the price of every modification they will going to incorporate. And as for the cost of a manufactured home in Adrian, Michigan, you need to understand two important consoderations first. These are substantial factors that helps in buying a manufactured home.

A typical manufactured home floor plan costs 20 to 30 percent lower than the stick built home. It can also have a price lesser than the modular homes. But above all, remember that the cost of manufactuted homes vary according to their floor plan and customization.

Manufactured Home Floor Plan

As mentioned manufactured home floor plans have their own and distinct prices. A single bed floor plan is expected to cost lower than the triple bedroom ones. Those that are below 2000 square feet have inexpensive prices than the above 2500 square feet floor plan.

Customized Manufactured Home

Often the builders will allow customization of the kitchen and other main areas of the house sans the costs. You can change the design of the kitchen cabinetry, or extend the dimension of the rooms. But though there are lots of home builders who grant free customization, buyers must also remember that free has its limits. They may charge for other modifications you wish to put in your home.

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Topic: Manufactured Home

How To Buy A Two Story Manufactured Home in Jackson, Michigan

Posted by Legendary Homes on June 10, 2014 in Jackson, Modular Homes with No Comments Yet

A manufactured home can deliberately acquired by anyone who wants to have a cheaper cost of living. It is one of the factor built homes that requires lesser sweat and effort from both the buyer and the construction team. And in the United States, it is considered by the government to be the answer against robust hurricanes, tornadoes, and earthquakes.

Buying for a two story manufactured home in Jackson, Michigan may seem difficult especially for first time buyers. So here are some tips on how procure your own double story abode.

Find a Manufactured Home Dealer

It is wise to look for an excellent home dealer who provides excellent information about manufactured homes. You must seek for a dealer who possesses the qualities of a professional in prefab housing and is registered under the Department of Housing and Urban Development or HUD. Registered dealers are the only persons given authority by the buyers in the purchase of manufactured homes.

In Jackson, Michigan, there are numerous of home dealers. You need to narrow your list using certain criterias to ensure that you hire a trustworthy one. To start your search, you can check the directory websites or the HUD website.

Inspect The Two Story Manufactured Home

Manufactured homes that are forelosed or for sale are open for home buyers. You just have to ask your home dealer to tour you to the house. Home dealers have access to the houses so even they are listed online by the broker, you don’t need to inquire from them.

When inpecting the house be vigilant on its details. Take note of the main areas and smaller rooms. Also be alert to some minor glitches you find in the house. You may need to add money for repairs if necessary.

Check Your Budget and Make an Offer

When you have decided on what style of manufactured home you desire, you have to check your budget first before making an offer. Manufactured homes are cheaper but there are some that may cost higher because of its features. So if your budget fits the house, make an offer to the seller or his representative. Make sure that your offer is reasonable enough for the quality of the home. Never make an offer higher than its quality.

After 30 to 4 days, your contract or offer can be closed. It is then the start of having your permits done. Prior to closing an offer, ensure that you check also the financing institutions that might hel you in the buying process.

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Topic: Manufactured Home

Is there a Two Story Manufactured Home?

Posted by Legendary Homes on June 10, 2014 in Modular Homes with No Comments Yet

Manufactured home was known as mobile homes several ages ago. Its evolution had gone so many changes on its features. Today it can be overwhelming to determine it because it blend well with the stick built homes and modular homes.

Manufactured homes are built following the HUD Code federal law. The rules and regulation on how to build and what materials to use are stated in the code. Manufacturers must submit their plans for inspection before instigating the building process. The firm and specific policy of HUD have been centered on the affordability, durability, and quality of manufactured homes in each state in the United States.

Affordability of Manufactured Home

The construction process of a manufactured home has proved that it is a quick and affordable way to own a home. Generally it can be built and delivered to its buyer in three to five weeks, lowering the labor costs. Manufacturers are also making sure that they utilize inexensive yet high quality materials.

Costly construction delays are barred from happening during the building process. Theft vandalism, and hefty absence of workers and subcontractors are not possible because manufactured homes are realized in a controlled and heavily monitored factory. Weather is not also a hindrance

Durability.of Manufactured Home

Manufactured home manufacturers are seamlesly working hard to provide their utmost services to their clients wanting this type of house. They used both the old and the new strategies to build a durable dwelling especially to those in storm prone areas.

Manufactured homes are most recommended by the government where tornado or hurricane lashes out frequently. It has been cited that they withstand the destruction these extreme weather conditions. The aftermath of these severe weather has shown lesser damage to the property.

Because of the evolution of manufactured homes, two story floor plans are realized. They are uniquely done and erected. Manufacturers of this style make use of state of the art tools and advanced methods to construct a two story manufactured home. However, this type is still not available in some regions in the United States. To know whether manufacturers in your area can have build this, you must check with the HUD.

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Topic: Manufactured Home

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Legendary Homes Inc
10197 S Meridian Rd US 127
Clarklake, Mi 49234
(517)206-2435
http://LegendaryHomesInc.com
Todd_Rutledge@LegendaryHomesInc.com

Located in Jackson County Michigan