Frequently Asked Questions about Manufactured Homes Frequently Asked Questions about Manufactured Homes If you have decided that a manufactured home may be the home choice for you, but you still want to know more about the purchase and move-in process, read on to find the answers to the most frequently asked questions. What can I afford? Your consultant will meet with you to “pre-qualify” you for your mortgage (if you’re placing your home on private property) or for your consumer
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‘Floored’ by Options A U.S. News & World Report article described one family’s manufactured “dream” home: the “three bedroom home boasts a master suite with walk-in closet and bath with sunken tub and double sinks. There’s an eat-in kitchen, formal living and dining rooms and a den with a fireplace.” Little wonder,” the magazine mused, that “there’s a ton of interest in manufactured housing,” a type of housing it called the nation’s fastest growing. Today’s buyers can get quality and design that
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CFPB Report Validates Manufactured Housing Industry Calls for Regulatory Relief Bureau’s findings show potentially significant loss of credit available to consumers and disparate impact of regulations on manufactured housing over site-built counterparts Washington, DC—On September 30, the Consumer Financial Protection Bureau (CFPB) released its report Manufactured-housing consumer finance in the United States to provide “a comprehensive understanding of manufactured housing and its financing.” The report highlights differences in costs and financing available between the site-built and manufactured housing markets, as
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Glossary of Industry Terms Manufactured Home A home built in a controlled, factory environment on a permanent chassis that is designed to be used with or without a permanent foundation when connected to the required utilities. Manufactured homes are built to the federal Manufactured Home Construction Safety Standards enforced by the U.S. Department of Housing and Urban Development. Manufactured homes are constructed in sections and are delivered to the home site in one, two, or occasionally, three sections; they may
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The Myths: Wrong Ideas About Manufactured Homes Manufactured homes have come a long way since their “trailer” days. These affordable, factory-built homes offer more quality and style than ever before. New homeowners can virtually custom design their homes with the seemingly endless list of options available. Over 22 million people across the country have decided to make a manufactured home their way of life, and by the time you finish reading this article, you may make the same decision. You’ll
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Manufactured homes meet a variety of housing needs Manufactured homes are the fastest-growing type of housing in the U.S. for two reasons: affordability and value. This type of housing is the answer for thousands of Ohio residents who haven’t been able to qualify for their own homes at today’s prices. With site-built housing costs averaging $164,217 (without land), many residents are priced out of the market, especially if they are young, or have single or fixed incomes. With household composition
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Is It Manufactured, Modular or Mobile? Manufactured, modular and mobile are terms that are often confused. Although they are all types of factory-built housing, there are some differences. Manufactured Homes A manufactured home is defined as a structure built on a permanent chassis that can be used with or without a permanent foundation when connected to the required utilities. Additionally, it is constructed in a factory with federal standards enforced by the U.S. Department of Housing and Urban Development. These
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A History Lesson Gone are the days of the traditional mobile home, a shoebox towed around on its own chassis. These days, the houses are set on a foundation, where they usually stay put. Some have a spiffier, more suburban appearance as well. Half the houses being sold are multi-section. When Fortune magazine reported sales of manufactured homes as “sizzling,” this was the explanation: sales of manufactured homes increased one year at a rate twice the overall rate of new single-family homes.
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