Entries Tagged 'Mobile Homes' ↓

A modular home, also called a mobile or manufactured home, is a permanent home that’s designed for year round living. It’s said that over thirty two percent of single families currently live in modular homes. Modular homes are movable. They are built on a permanent chassis and can be moved by professional movers, allowing you to place your modular home anywhere you’d like, usually on a plot of land that you also purchase from the modular home maker.
Of course, you can place your modular home on your own plot of land if you have one, but you should be sure to check your local land regulations to make sure you’re staying within the law.

In the 1950s and 1960s when mobile homes started becoming popular it was virtually impossible to get a mobile home mortgage from a traditional lender. Since they had wheels and could moved they were treated as a vehicle and typically a mobile home mortgage was subjected to the same interest rates as cars and trucks, higher than that available for home purchases.
Up until a few years ago there were few options in financing the purchase of a manufactured home, but with the growth of the internet, a little research can find numerous opportunities to find a mobile home mortgage.