A manufactured home loan is a type of loan that is that is specifically made for houses that are made from a factory and delivered to the lot where the house should be placed. Basically a house is made off site which is built around a non-removable chassis which will be the base for the build, where the wheels will be installed and be uninstalled when the house is placed in its rightful place.
Its under the the HUD code (federal building code of July 15 1976) where a manufactured home loan will have a different way in securing its home loan the day after. Its also stipulated there the eligibility, the amount of loan, the space and many more provisions covered by this new way of making houses (at the time). Decades after the law was made it still exists but only a very few number of people are opting for it for the reason that it never really took off the way it should. If you’re interested in getting one below are a few good things that manufactured home owners are experiencing.
Affordability: Everything about these types of houses are affordable in every way. Sure the materials are all made the same materials like other houses that are out there, but because it’s in a place where everything can be done fast like a factory, these houses have lesser construction time. This translates to lesser man hours and lesser man hours translates to savings. Aside from that, everything is standard from the materials to the process like the measurements, the amount of nails, paints to use in a specific house and so on. there’s no cutting corners, no overuse of materials and less. You can even save more if you buy a used one which is way way cheap.
The environmental will love you: If you’re concerned about the environment that much and you’re very specific with everything about it’s well being having a manufactured home is actually a good idea. Since these houses can be manufactured faster than the ordinary house and the process in making one is well calculated there are lesser waste being made (mother nature approved).
Very reliable: Because these houses are built in factories and not in the land area itself, it’s contained in an environment where delays are hard to comeby. This means there won’t be any work stoppage because of rains and any bad weather. There’s really no excuse not to finish the house within the stipulated deadline, there are even times that it will be finished earlier (which never happened before with traditional constructions).
Easily sold: If you plan to sell your property it will be very easy as well whether sell it as a lot or as a house, it won’t be a problem because the house can be easily transferred. Also it’s a perfect house to renovate!
Manufactured home loans are types of loans that specifically caters to houses manufactured off-site in factories. Although there is a challenge in getting these types of homes, that is the only thing that’s a challenge because in terms of selling it is easy. Not only that, it’s also affordable, environmentally friendly and very reliable. If you’re looking for one and you need a consultation, head over to onqfinancial.com.
