Whether you’re looking for manufactured home financing or refinancing options, understanding how the home buying and closing process has changed due to the economic slowdown caused by the coronavirus pandemic is imperative in order to obtain a manufactured home loan that perfectly fits your financial situation.
Manufactured Housing News
For any bank or credit union looking to improve their investment portfolio over the next few years, manufactured home loans pose a unique opportunity. Manufactured home loans offer more flexibility and higher yields than traditional mortgages, and despite some myths about manufactured homes, they are actually in high demand these days. Here's why you need to be thinking about manufactured home loans for the future of your portfolio.
Just a decade ago, many people used to prefer site-built construction to manufactured homes particularly due to the stigma of “trailer” living that was erroneously associated with manufactured housing. Because manufactured homes have evolved significantly over the years, they’re completely different from the old-style factory-built housing types. In fact, modern manufactured homes comply with the same quality, safety and design standards as a conventional site-built house. As a result, manufactured homes provide one of the best solutions to the current affordable housing crisis.