Archive for October, 2007
As a first time home buyer, you know that buying a brand new home can be quite heavy on the budget. To make things more difficult, you have to face that fact that you don’t know anything about buying a home as you never experienced doing so yourself.
If you do not have that much money but you still want to buy your own home, then mobile or manufactured homes is your best bet. First of all, manufactured homes are built in an assembly line in a factory.
The whole house will then be delivered in the lot where it will be situated. The great thing about manufactured homes is the fact that it is very cheap and it can build equity. This means that the value will increase even if it is a manufactured home which will mean that you will be able to sell it at a higher price.
Today, there are quite a lot of used manufactured homes available for sale. The great thing about used manufactured homes is that it is relatively cheaper than brand new ones. Also, because manufactured homes are built in simplicity, maintenance will also tend to be a lot cheaper. A good manufactured home will also tend to provide you with low cost insurance, and lower property taxes. However, buying a used manufactured home does have some problems.
It is important that you should watch out for these problems in order for you to obtain all the benefits of buying a manufactured home.
The first problem is the age of the manufactured home. If it is too old, it will make it tough for you to finance. Although some old manufactured homes may be financed, you will see that it will have a very high interest rate. So, this means that you should check the age of the manufactured home you plan on buying before you even consider making an offer for it and also make sure that you should take the higher payments into consideration when you compare your options.
Another factor about the age of the manufactured home is the insurance for it. Usually, the older the manufactured home you purchase, the less likely you will be able to get it insured. Try to find out if you still can obtain a reasonable insurance rate for the manufactured home you plan on buying before you purchase it.
You also need to consider that manufactured homes built before 1976 have aluminum wirings that can be hazardous as this metal can react to other metals which will cause the wiring to break. You definitely wouldn’t want to buy a home that sparks on the inside of the walls. Try avoiding manufactured homes with aluminum wirings as this type of manufactured home is a fire hazard. If you still plan on buying a manufactured home with aluminum wiring, you may want to have it rewired in order for you to get it to be safer to live in and also get it approved for insurance.
Stains and leaks should also be checked in used manufactured homes as this type of problem is very common.
Nevertheless, if there are any problems with the used manufactured home you plan on purchasing, you will see that renovating it will be much cheaper than renovating a traditional home.
These are the things you have to remember about buying a used manufactured home. By following these tips, you can be sure that you will find the right first manufactured home you will invest and live in.
October 31st, 2007
Home ownership is definitely one of the most common dreams of most Americans. With it, they will be free from paying for rent and they will also have a place which they can call their own. However, credit is everything nowadays. If you have a bad credit rating, you will see that owning a home may seem next to impossible. Besides, who would approve your home mortgage loan application if you have bad credit history?
However, there are programs for people with bad credit history that makes it possible to get you approved for a home mortgage. This is especially true when you want to purchase a mobile or manufactured home. Today, there are lenders and mortgage companies that will be able to provide manufactured home loans for individuals with bad credit ratings.
Although it is quite difficult to get approved for a home loans and mortgages for financing the purchase of a manufactured home if you have a credit score that is lower than 600, you will see that it is not impossible. All it takes is to look for one by shopping around for mortgages.
There are home loan and mortgage programs today that are specially made for people with bad credit. However, you have to dig deep for information in order to find it and you also have to put up with the high interest rate that is commonly associated with home loan and mortgage programs designed for people with bad credit.
If you are determined about fixing your credit rating and owning a new home, the high interest rate that is associated with manufactured home mortgage programs designed for individuals with bad credit history is well worth the price.
However, it is very important that you should pay your monthly payments in time in order for you to repair your credit sore and reduce the risk of losing your home to foreclosures or repossessions. Because you will be improving your credit history at the same time, you will see that you will be able to refinance your home to a lower interest rate.
If you don’t know your credit rating, you may want to order copies of your credit report from one of the three main credit bureaus, which are Experian, Equifax, and Transunion. For a small amount of fee, you will be able to get your credit report and determine if you will have problems with it when you are going to apply for a home loan or mortgage for financing the purchase of a manufactured home.
Oftentimes, credit reports may contain some errors. If you can spot these errors, you might want to inform the credit bureau about it in order to fix it. You will be surprised that a simple error detection can significantly improve your credit score.
As you can see, it is possible for you to get approved for manufactured home loan or mortgage even if you have bad credit history. By just looking for home loans and mortgage programs designed for people with bad credit history, you will see that you will be able to make your dream come true when it comes to owning a home. Manufactured homes are great choice because it is cheap and even if the mortgage you took out has a considerably high interest rate, you will see that you will be able to afford the monthly payments.
October 26th, 2007
A lot of people are now considering getting a mobile home instead of a conventional one. If you’ve never seen the recent mobile home designs today, you will be amazed on the architectural designs that they now have . Try visiting a company that manufactures mobile homes and you will see that they will be able to offer you different types of homes with different designs.
If you are a first time home buyer, you can consider getting a mobile home as it is way cheaper than conventional homes. Besides, with today’s economy and high cost of living, you will see that buying a mobile home is indeed practical as it will enable you to save a lot of money.
However, what if you have a bad or poor credit score? Surely you know that it would be next to impossible to get a mortgage to finance your purchase of a mobile home. Today however, the great news is that even people with poor credit score is now able to qualify for mobile home loans. Although only few lending institutions will be able to work with people who have poor credit scores, you can be sure that you will be able to find one that will be able to work with you.
You have to remember that your past payment delinquencies on loans are the ones responsible for your poor credit score. Because of this, you tend to be riskier to trust when it comes to approving you of the loan you want to apply for. So, in order to provide additional security, most lenders that will be willing to work with you will charge you with higher interest rates for the loan.
Although this means that you will spend more money on your mobile home loans, you will see that it will be able to work for you in two ways. The first is that you will be able to acquire the mobile home you have always wanted, and the second would be giving you a chance to repair your credit score.
Always remember that you need to pay on time in order to minimize the risk of getting your new mobile home repossessed or foreclosed, and also avoid making your credit score get worse than it already is.
You may want to shop around for lenders that offer mobile home loans for people with poor credit score. You have to consider that not a lot of lenders will be willing to work with people with poor credit. However, there are lenders out there that also offer mobile home loans specially designed for people with poor credit scores. It is all just a matter of finding the ones that you want to work with.
Try shopping around for the quotes for mobile home loans designed for people with poor credit score. Through this, you will see that you will be able to find the best loan programs even if you have poor credit score.
However, you need to remember that you need to put up with higher than normal interest rates for mobile home loans.
These are the things you need to know about mobile home lenders who offer loans for people with poor credit score. With this, you will not only get the home you want, but you will also have a chance to repair your credit score. In time, and after your credit score improves to a favorable level, you can now try and refinance your mobile home loan to get lower interest rates.
October 19th, 2007
Most of the time, looking for a mortgage loan program can be a very hard task. However, thanks to Greentree Mortgage Services, you will see that getting loans is easier than ever before.
First of all, mobile homes are now the premier choice of many people seeking home ownership today. Mobile homes are very popular because of a number of reasons. The first reason is that because it is a lot cheaper than buying a conventional home or getting one built. Secondly, mobile homes are what its name suggests. It’s mobile. This means that you can take it anywhere you like. So if you need to move, you will be able to take your mobile home with you.
However, when it comes to financing the purchase of mobile homes, most lenders refuses to do so. This is because mobile homes tend to be riskier to take as collateral than conventional homes. The fact that mobile homes tend to depreciate in value quicker than conventional homes, many lenders refuses to have mobile homes as collateral.
Besides, if you are a lender and you were offered to take something that depreciates in value very quickly as collateral, it will be very scary to do so. What if the person you loaned the money to wasn’t able to pay up? Surely the next step you need to take is to repossess the agreed collateral. When this happens, you need to sell the collateral in order for you to get the money you loaned back. Because the collateral depreciates in value quickly, there is a huge chance that you will need to sell it at a much lower price, forcing you to settle with the little amount of money you will get.
This is one of the few reasons why many mortgage companies refuse to finance or take mobile homes as collateral for mortgage loans.
However, with Greentree Mortgage Services, you will see that they will be able to finance your mortgage for mobile homes. They understand your needs to own a home. Because of this, they will be able to offer you attractive rates for mobile homes.
But you need to remember that Greentree is still a company that does business for profit. They may approve you for mortgage loan on your mobile home, but the interest rate will be significantly higher than conventional home mortgage loan programs.
Greentree Mortgage Services is one of the most trusted names in the mortgage industry. Here, you will see that you will be accommodated by qualified real estate professionals who will be able to guide you on the type of mobile home mortgage loan program available. They will not force or insist you to agree on the mobile home mortgage program they offer you. They will guide you on the different quotes they offer and will explain each of the offers to you until you get it.
These are the things that you have to know about mortgage loan programs with Greentree Mortgage Services. With them, you will see that it will be easier to get a mobile home mortgage, and you will be able to find the best offer that will suit your needs. So, the next time you plan on applying for a mobile home mortgage, think of Greentree Mortgage Services.
October 15th, 2007
First of all a manufactured or mobile home is a home that has been manufactured in an assembly line in a factory. It is built at the factory and is shipped to the real estate of the buyer. Mobile homes can readily be purchased just like a fixed home. However, for people who are always on the move, mobile homes are perfect as people will be able to take their home with them.
Manufactured or mobile homes are also a lot cheaper than your average traditional home. The main disadvantage of mobile homes is that it is already made and you will never have a chance to do a bit of your architectural preferences. Nevertheless, mobile homes are great for people who are either first time home buyers, or people who are in need of a home in just a few days.
Mobile homes are gaining in popularity in the United States because of its low price. Although mobile homes are a lot cheaper than traditional homes, you have to consider that it will still take quite a lot of money to purchase one. If you are a person who dreams of owning a home but don’t have the money for it, you can consider getting a mobile home mortgage.
Just like taking out a traditional home mortgage, you will be able to have financial help from a lender in purchasing the mobile home. However, unlike traditional home mortgage, you will notice that mobile home mortgage programs have higher interest rates than traditional or conventional home mortgage programs.
The reason for this is that mobile homes tend to depreciate in value over time.
However, because of the low price that mobile home have, high interest rates will still be affordable for the average individual. But it is still important to remember that you should still know how to find the right lender in order for you to get the best offers and also get the best savings that you can ever have for a mortgage loan.
If you find a good lender, you will be able to get the best deals that they have to offer. And, you will also save a lot of money from the fees and the interest rates.
However, you have to remember that it is quite impossible for you to find a lender that will provide you with a mobile home mortgage with rates that are comparable to conventional home mortgage programs. What you can do is find an offer that is lower than most available mobile home mortgage offer.
In order for you to find the right lender, you might want to try shopping around for them. Always remember to be patient as it can take some time before you can find the right lender that will be able to help you get the best mobile home mortgage that will suit your needs.
You also need to remember that you will be working with the lender you choose for quite a long time. So, it is important that you find one that you are comfortable dealing with and one that you can trust. If you are not comfortable with the lender, then trust your instincts. Go to another lender to provide you with another deal for a mortgage loan for a mobile home until you find one that you are comfortable working with and one that you can easily afford.
These are the things you have to remember when finding the right kind of lender to help you finance your mobile home purchase.
October 13th, 2007
When it comes to owning a home, you know that getting insurance for it is very important. For people with manufactured homes, it’s another story. Most people who owns and lives in manufactured homes tend to think that getting their home insured is very difficult to do or sometimes impossible. However, this is only a misunderstanding and there are quite a lot of home insurance companies today that offer coverage for manufactured homes.
However, it is very important that you should do your homework about manufactured home insurance as it is not quite similar to insurance policies offered in conventional or traditional homes. There are different types of insurance policies for manufactured homes that you need to be familiar with in order to help you make the right decision.
So, here are some tips that you can use in order for you to know what you want in an insurance policy for your manufactured home.
Basically, there are three important things that you need to aware of when it comes to looking for an insurance policy for your manufactured home. These are:
• Personal property or personal possession protection
• Liability coverage
• Insurance on the home itself and also insurance on the surrounding properties
The type of manufactured home insurance policy that you should look for should offer protection to your personal possessions or personal property. Try to make a list of all your personal items and include a picture of each. Document this and store it in a secure place, which is not your home.
This list will be very useful in case your home is destroyed. This will serve as a proof of your personal possession and it will enable you to get proper compensation. You may also want to try giving a copy of the list and pictures to the insurance agent, but it is very important that you keep a copy for yourself just to be on the safe side. Although you may find this unnecessary, you will see that it will be very helpful when you are going to claim for the coverage.
The second important thing that you should look for in a manufactured home insurance policy is liability insurance. This will serve as your protection against lawsuits. If someone gets hurt on your property or inside your home, the liability insurance feature will be able to cover the medical expenses that are associated with the injury sustained by the individual in your property or in your home. Good manufactured home insurance should also cover legal defense in case you are sued by the person injured.
The third thing that you should look for in a manufactured home insurance policy is the insurance to the home itself and the surrounding properties. With this policy, it will be able to cover the home itself in case it gets destroyed. Try getting a policy that will include coverage on fire damage, explosion damage, vandalism, and other disasters that can potentially destroy your home.
These are the three things that you need to remember about the insurance policy that you should get with a manufactured home insurance. By having these three basic coverage, you will be able to make sure that you and your home is well-protected.
Although manufactured home insurance policies are pricier than traditional home insurance policies, you will see that it will be worth every penny. Besides, with this, you will be able to protect yourself and your home from basically about anything.
October 9th, 2007
When it comes to buying a home, you know that buying a traditional home is quite expensive. Especially in today’s economy, you may find it difficult to pay for traditional homes.
As a first time home buyer, buying a manufactured home is one of the best choices you have. Often, people who are not sure about buying a home choose manufactured homes as it is cheaper and the manufactured home is also somewhat like a mobile home that you can move from one lot to another.
The great thing about manufactured homes is that it can be ready within 5 to 10 days or depending on the where the real estate you own is situated. However, it is still better than waiting for months just to get your home ready. Today, you will find manufactured homes to be very spacious, well-designed, and very affordable.
Another great feature of manufactured homes is that it is thoroughly inspected to meet the construction standards of the US Department of Housing and Urban Development. It is also often energy efficient, very durable, and has fire resistant features to ensure additional safety to the person living in it.
You will be able to find different types of manufactured homes with different architectural designs. Although it may not be the dream house you want, you will still see that you will be able to find the home that you need.
When you plan on purchasing a manufactured home, there are some things that you have to keep in mind in order for you to choose the right type of manufactured home. The first thing that you have to consider is that price. It is important that you should look for a manufactured home that you can afford and at the same time look for a manufactured home that will be able to accommodate the size of your family. Basically, a basic single section home will cost you about twenty five thousand dollars. It will have basic features and amenities that you need to live life comfortably. However, if you have a large family, you can consider getting a multi section home for about a hundred thousand dollars or more.
If you can’t afford a brand new manufactured home, you can consider buying a used manufactured home. However, you have to keep in mind that homes like this are quite susceptible to damage. Try bringing a building inspector with you in order for you to know about the home you are interested in buying.
Leaks, infestations and other factors that can depreciate the value of the home are signs that you have to abandon the idea of purchasing homes like this.
Manufactured homes are quite cheap. With over a hundred companies existing today that make manufactured homes, you will see that you will be able to shop around for variety and price. Just make sure that you can afford the manufactured home you are purchasing.
You need to remember that investing in a manufactured home is a big decision that you and your family have to make. Besides, you will be living in it. If you choose the wrong type of home, then you have to put up with your mistakes for quite a long time.
These are the things that you need to remember about buying a manufactured home for sale. By following the mentioned tips, you can be sure that you will be able to find the right type of home for you and your family.
October 4th, 2007
In the past few decades, the cost of living in the United States has been steadily increasing. Because of this fact, many people now find it difficult to buy a home or get some financial help to buy a home. With this fact alone, many people are now opting to buy manufactured homes instead of buying traditional homes that are built from the ground up.
So, if you ever want to own a home but you find it difficult because of the steadily increasing cost of living, getting a manufactured home for your first home is the next best thing to living in an apartment that offers cheap rent.
Manufactured homes are a lot cheaper than traditional homes. However, it is still quite expensive. If you are an average person with an average income, you might want to consider taking out a mortgage in order to help you finance the purchase of a manufactured home.
The first barrier in getting a mortgage to finance the purchase of a manufactured home is by finding the right lender. You can always go to your local bank and ask about their manufactured home loan programs but this will only serve you with limited choices. If you want to find the best lender to finance the purchase of a manufactured home, then you may want to try the internet for it. Today, lenders and mortgage companies in the United States are now offering their services online. Here, you will be able to find out about their manufactured home loan programs and you can even get free quotes.
With this, you will be able to compare the quotes and determine which manufactured home loan and mortgage program is best suited for you.
The best lenders are the ones that will be able to help you in your decision on what kind of loan program or mortgage that you need in order to finance the purchase of a manufactured home. They should never rush you in making a decision and they should also be able to explain the different mortgage program they have for manufactured homes. With this type of help, you will be able to fully understand how each program works and determine what will suit your needs.
The right lender should be able to help you understand the interest rates, and they should also help you understand the monthly payment options as well as the different mortgage plans they have, such as the fixed rate mortgage and the adjustable interest rate mortgage. Also, they should be able to explain to you about their 10 year, 15 year, and 25 year mortgage plans and how the payments will differ.
You can broaden your choices in manufactured home mortgage by asking the company that sold you your manufactured home about their financing. Normally, most manufactured home companies will be able to offer you with attractive mortgages and will refer you to a lender that will be able to provide you with the mortgage. However, you need to keep in mind that the company that sold you the home may be making additional revenue for financing. So, make sure that you compare your options first before making a decision.
As you can see, shopping around for manufactured home mortgage lenders and programs is the best thing that you can do to get the best offers. Remember these tips and you will definitely get the best mortgage offers for financing manufactured homes.
October 3rd, 2007