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Three Reasons to use a Manufactured Home Loan Broker

It seems like common sensethat if you are looking for a loan for a manufactured home, then working with a broker that deals with your particular needs is the obvious choice. However, manymobile home buyers are lied to by desperate loan brokers or firms that are widely known for their experience in traditional home loans but do not know manufactured home loans, and are just trying to break into the mobile home finance market. Only after draggingthe purchaser through the entire process (and racking up quite a bill), does the untrained loan specialist realize that they were unable to secure financing for a manufactured home all along. The unfortunate reality is, many of our customers have come to us after their former loan specialiast turned them away. In this scenario, a borrowerhas no choice but to start over and leave behind the fees and charges they already paid in the neighborhood of $1,000. If this sad scenario isn't convincing enough, here are the top three reasons to seek out a mobile home loan specialistto fully realize your true financing choices.

One. The banking and real estate market changes every day, and this includes the mobile home industry. Only a Specialist in Manufactured Home loans will know the lenders that will and wont' lend for Manufactured Home Loans. Many funders that formerly lent on Mobile Homes, have ceased with their Manufactured Homeloan programs within the past 6months. Most likely, even if thelenderdidn't cancel their Manufactured Home programs, they have changed themquite a bit. Only a firm that specializes in Mobile Homefinance will know the ebb and flowof this highly specific industry.

Second. Mobile Homefinance maintains it's own unique laws. An agent that only works with stick builthome loansdoes not knowthe intricacies of the manufactured home market. This leaves the buyer, seller and any third party quite exposed to legal action if the broker's ignorance leads toany legal or regulatory snags during the deal. Mobile Homesare treated very differently on both the federal and state level, and unless the agent is familiar with these laws there is huge potential for a catastrophic mistake.

Third. Using a Manufactured Home Loan Specialistwill cost you less money, in the short term and long term. Mobile Home realtors and mortgage brokers without Mobile Home know-how usuallyapply their traditionalhome finance experience to Manufactured Homes, and this does not work. They will charge the customer to get an appraisalon a property without first checking for any comparable sales in the area, which will make the home nearly impossible to finance. This will needlessly waste $400 of your hard earned money, and unfortunatelyyou'll get nothing for it. A Mobile Home Loan Specialistknows the proper process, and you will take advantage of the wealth of experience they already have, rather than) being drug through the learning curve of a stick builthome agent. In the end, a customerisalwaysleaving themself vulnerably to unfortunate liabilitywhen\by not using a mortgage broker that does not have Manufactured Homeloan experience.

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Three Reasons to use a Manufactured Home Loan Broker