{"id":3530,"date":"2015-04-07T14:00:41","date_gmt":"2015-04-07T18:00:41","guid":{"rendered":"http:\/\/legendaryhomesinc.com\/blog\/?p=3530"},"modified":"2015-04-07T14:00:41","modified_gmt":"2015-04-07T18:00:41","slug":"why-finance-your-modular-home-with-fha-loan","status":"publish","type":"post","link":"https:\/\/legendaryhomesinc.com\/updatedsite\/?p=3530","title":{"rendered":"Why Finance your Modular Home with FHA Loan"},"content":{"rendered":"<p><a href=\"http:\/\/legendaryhomesinc.com\/blog\/modular-home-floor-plans-options\"><img loading=\"lazy\" decoding=\"async\" class=\" size-medium wp-image-3191 alignright\" src=\"https:\/\/legendaryhomesinc.com\/updatedsite\/wp-content\/uploads\/2015\/02\/general-contractors-jackson-michigan-300x202.png\" alt=\"Modular Home and Mortgage Lender\" width=\"300\" height=\"202\" data-wp-pid=\"3191\" \/><\/a>FHA loan is not perfect, but they are a great fit in some situations especially with modular home financing. The main appeal is that they make it easy to buy property, but don\u2019t forget that those benefits always come with tradeoffs. Here are some of the most attractive features:<\/p>\n<h3>Lower Down Payment<\/h3>\n<p>FHA loans allow you to buy a <a href=\"http:\/\/legendaryhomesinc.com\/blog\/modular-home-floor-plans-options\"><strong>modular\u00a0home<\/strong><\/a> with a down payment\u00a0as small as 3.5%.\u00a0Other loan programs\u00a0generally require a much larger down payment.<\/p>\n<p>It\u2019s easier to use gifts for downpayment and\u00a0closing costs. In addition, sellers can pay up to 6% of the loan amount towards a buyer\u2019s closing costs. You\u2019re most likely to benefit from that in a buyer\u2019s market, but those do come around from time to time.<\/p>\n<h3>Lower Cost Interest Modular Home Loan<\/h3>\n<p>A modular home buyer can \u201ctake over\u201d your <a href=\"www.fha.com\" rel=\"nofollow\">FHA loan<\/a> if it\u2019s\u00a0assumable. That means they will pick up where you left off \u2013 benefiting from lower interest costs. Depending whether or not have changed by the time you sell, the buyer might also enjoy a\u00a0low interest rate\u00a0that\u2019s unavailable elsewhere.<\/p>\n<h3>A Chance to Reset<\/h3>\n<p>If you have recently come out of bankruptcy or foreclosure, it\u2019s easier to get an FHA loan than a loan that does not come with any government guarantee (two or three years after financial hardship is enough to qualify with FHA).<\/p>\n<p>In case you still have questions about modular homes, you may contact\u00a0<a href=\"http:\/\/legendaryhomesinc.com\/ModularHomePrices\/\" rel=\"nofollow\">Legendary Homes Inc<\/a>\u00a0in Jackson, Michigan. A representative will be happy to assist you. Meanwhile, you can check our\u00a0<a href=\"http:\/\/legendaryhomesinc.com\/ModularHomePrices\/\" rel=\"nofollow\">modular home price sheets<\/a>\u00a0by signing up to our\u00a0<a href=\"http:\/\/legendaryhomesinc.com\/blog\/\">blog<\/a>.<\/p>\n<h2>Topic: Modular Home Financing<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>FHA loan is not perfect, but they are a great fit in some situations especially with modular home financing. The main appeal is that they make it easy to buy property, but don\u2019t forget that those benefits always come with tradeoffs. Here are some of the most attractive features: Lower Down Payment FHA loans allow [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[30,31],"tags":[188,389,401,425,451],"class_list":["post-3530","post","type-post","status-publish","format-standard","hentry","category-modular-homes","category-mortgage-lenders","tag-fha-loan","tag-modular-home","tag-modular-home-buying","tag-modular-home-financing","tag-modular-home-michigan"],"_links":{"self":[{"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=\/wp\/v2\/posts\/3530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3530"}],"version-history":[{"count":0,"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=\/wp\/v2\/posts\/3530\/revisions"}],"wp:attachment":[{"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legendaryhomesinc.com\/updatedsite\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}