A simplified inspection will tell you what you need to know.“But there is a really nice sweet spot where you can find a really nice manufactured home in the $25,000 to $50,000 range,” Rearden says, adding that when the home is maintained well and kept up to date, it’s less likely to lose significant value in this range. While real estate typically increases in value over time, a manufactured home typically depreciates in value over time like a car. A manufactured home depreciates in value.These types of loans do exist, however, and there are programs under Fannie Mae and Freddie Mac for conventional loans, or through the Federal Housing Administration and other government agencies.
Because of the nature of manufactured homeownership, you can’t get a traditional mortgage and it may be harder to get a manufactured home loan.
You can’t get a traditional mortgage for a manufactured home.You don’t have a property deed or anything, but you have a title,” Rearden says. “A manufactured mobile home actually has titles that are very similar to a car. Because the home is not permanently built on land, it is personal property rather than real estate. If this is your first experience with a manufactured home compared to a traditionally built house, know that the purchase process and type of ownership is different. The purchase process differs from buying a house.
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