Most manufactured homeowners refinance their manufactured home loans in order to lower their interest rates and monthly payments, shorten the repayment terms of their loans, tap into their home equities, or to consolidate debt. Basically, refinancing involves replacing an existing manufactured home loan with a new loan that pays off the remaining balance on the original loan, while offering one, more, or all of the aforementioned benefits.
Manufactured Housing News
A pre-owned manufactured home can be an excellent housing option for many potential homebuyers, whether they’re looking to purchase their first home, find a retirement home, or upsize from their current home. That’s mostly because many pre-owned manufactured homes provide amenities and features, which are similar to those available in new manufactured homes, at a lower sales price.
Over the past few years, the demand for affordable housing has increased continuously in many areas across the country. As a result, the affordable housing shortage has deepened, driving up home prices and rental rates. The steady increase in housing prices is one of the reasons why the homeownership dream remains unattainable for many hard-working Americans.