Frequently Asked Questions

Mobile home finance is a very specific industry, and there is much to learn. Below are some answers to common questions. If you have any questions not included, plaese call us at (800) 882-1999. We would be happy to answer any questions you have.

Mobile Home Loans in California

If I have a Bankruptcy can I get a Mobile Home Loan?
Around the turn of the year, you could get financing for a mobile home with a bankruptcy over two years old, and a good rebuilding effort. But now, with the financial industry in a distressed state, they are usually unwilling to lend to anyone with a bankruptcy within 4-5 years. We'd be happy to educate you on how to rebuild your credit so we can help you when the time comes, but there will be very few options with traditional lenders to finance a Manufactured Home Loan if you've had a bankruptcy within the past 4 years.

What is the difference between a Manufactured Home and a Site Built Home?
A Manufactured home is entirely built in a factory, and transported to the site to be assembled. A Site Built Home is constructed on site, using traditional building methods.

What is the difference between a Manufactured Home and a Mobile Home?
Mobile Homes were built before 1976 before HUD code construction and safety standards. A Manufactured Home is a home built after 1976, with the Federal standards applied to the construction.

What is the difference between a Manufactured Home and a Modular Home?
Modular homes are assembled in smaller factory-built pieces, which makes them much more customized. Modular Homes are similar to Site Built Homes in appearance, and often stand alone anchored into a foundation. The pieces of a Modular Home are built in a factory around a floor plan designed by the future homeowner. Manufactured homes are customizable also, but in a different way. Rooms and floor plans can be customized in a Manufactured Home, but they are within a single or double wide pre-manufactured design. Manufactured Homes are usually in Parks, and aren't anchored into property.

What role does HUD play in the Manufacture and Assembling of a Factory Built Home?
The HUD standards are applied in the factory and during assembling. HUD Codes focus on the manufacture standards as they relate to Factory Built Homes, such as air-conditioning, plumbing, heating, thermal and electrical systems.

Is Financing Offered on homes that were built prior to June of 1976?
Many homeowners are under the assumption that financing is not available for their home, if it was built prior to June of 1976. This is a common misconception. We absolutely offer competitive financing for homes built prior to this date.

Whom do I contact if something is wrong with my New Manufactured Home?
Start by contacting the retailer that sold you your home; be sure to put something in writing. Document all conversations and save copies of any letters or documents you exchange. The next step is to contact the manufacturer. If you are still dissatisfied with their response, 38 States participate with HUD in a State and Federal partnership to regulate and enforce the Federal manufactured housing program in their state. Their involvement depends on the serious nature of the issue.

How can I find out where and when my manufactured home was built?
Your home has a data plate that includes the date of manufacture, name and address of the manufacturing plant, manufacturer's serial number and model, a list of certification labels applied to the home, major equipment, roof load, heating/cooling and wind zone information. Also included is the Design Approved Primary Inspection Agency. The label is the manufacturer's certification that the home is built in accordance with HUD's construction and safety standards. The Data Plate includes information concerning the manufacture, components and intended location of the home. HUD standards cover Body and Frame Requirements, Thermal Protection, Plumbing, Electrical, Fire Safety, and other aspects of the home. They are published in the Code of Federal Regulations (24 CFR part 3280, Manufactured Home Construction and Safety Standards).

How do I know I am getting the best rate on my Mobile Home Loan?
If you are looking for more information on different types of manufactured home loans and how to deal with the application process, please browse our website, or give us a call. We are happy to help, especially if you seek seasoned and honest advise from a mobile home loan expert.

What about my Credit Score?
When looking finance a Mobile Home Loan, it is a good idea to know your credit score. When you complete your free Manufactured Home Loan Application we will pull credit report. Lenders require your credit score to meet a certain mark, but it helps greatly if your score is above 700. However, If your score is below 700, we will work with you to research your financing options, or to build your credit.

 

To get started on your Application, Please call us toll-free:

(800) 882-1999

 

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