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Financing a modular home

By Greg Adelman

Home Builder with Midwest Home Center

February 29, 2008 10:10 AM

Financing......Easy Financing to SAVE you TIME and MONEY Modular Homes are financed in the same manner as conventional homes. Modular homes qualify for all mortgage programs. The same mortgage rules and regulations apply to purchasing a modular home as to a onsite stick-built home. New construction loans are typically shorter, saving homeowners interest payments.

visit us at www.midwesthomecenter.com

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Michael Creel

InActive Agent - Bellevue, WA

Boat houses are a tricky one though.

Feb 29, 2008 10:20 AM

Greg Adelman

Midwest Home Center - Saint Croix Falls, WI

You are correct but this is a whole different animal than that.

Feb 29, 2008 10:22 AM

Michael Creel

InActive Agent - Bellevue, WA

Yes, I know. I had a client last year that wanted to buy a house-boat, which are listed with the MLS. Unfortunately banks see's them as a boat (unless attached to land), so they're hard to finance. I actually have clients tomorrow viewing homes, one of which is a modular. In all honesty, I don't recommend them, they simply build no equity.

Feb 29, 2008 04:52 PM

Greg Adelman

Midwest Home Center - Saint Croix Falls, WI

Michael you might be thinking of a manufactured home vs. a modular. I have worked with modular, as well as national banks and they are treated just as a stick buildt home. Look at my website to learn more www.midwesthomecenter.com

Mar 01, 2008 03:39 AM