If you’re looking forward to buying a manufactured home this year, getting your finances in order as soon as possible is critically important in order to qualify for the manufactured home loan you need. Simply put, not being able to get a manufactured home loan may prevent you from fulfilling your homeownership dream.
Manufactured Housing News
Saving money for a down payment on a house is one of the greatest obstacles to homeownership. While many people resort to less advantageous financing options to come up with the cash they need for down payments, an often-overlooked source of funds is the income tax return. In fact, the possibility of using the tax refund as a down payment to buy a home comes as a surprise to many taxpayers.
Choosing the right lender for your manufactured home loan is paramount to getting a great rate and an affordable monthly payment. Not only do you have to find a bank that offers manufactured home loan products, but you also have to identify which lenders truly understand the manufactured home industry as this product is unique when it comes to financing. Here are a few tips to get you started: