HOW CAN WE HELP YOU?
Just as there are choices when you buy a site-built home, there are a variety of financing options when you buy a manufactured home. If you are buying the home and land together, or plan to place the home on land you already own, financial institutions offer traditional real estate mortgages and similar interest rates. Buying a home with land increases both its original value and its ability to appreciate over time.WHAT CAN BEL-AIRE MANUFACTURED HOUSING CAN DO?
- If you need financing, we can assist you in obtaining financing for a Home Only Loan or a Land Home package Loan
- Bel-Aire Manufactured Housing has many Homebuilders Northwest Home plans as well as Karsten Manufactured Home plans to choose from. Choose the home to fit your lifestyle and budget.
- Bel-Aire Manufactured Housing will work with you and the county in obtaining the permits that are needed for your new home.
HOME ONLY FINANCING:
This also makes an excellent "bridge" loan for those customers who need only short term financing. There are several "industry lenders" who fund these loans.
LAND/HOME FINANCING:
Unlike "home only" financing, land/home loans are normally the same as loans on stick built/conventional homes in terms of interest rates and down payment requirements. This type of loan includes the cost of the home, land, and the improvements to the land and the exterior of the home.
You can finance a garage along with your foundation, septic system, land clearing, etc. You can pick which type of land/home loan you need: conventional, FHA or VA. You can also choose your lender. As these loans are typically more complex than the same type of loan on an already existing home, we suggest you carefully choose your lender. Ask them how many of these loans they have done from start to finish.
Many lenders have done refinances on already existing manufactured homes but few lenders specialize in doing land/home loans on new manufactured homes.
We suggest that you consider paying a little extra to make your land/home loan a "construction" loan so your site contractor can get draws like a builder, rather than waiting until the very end to get any funding. Some land/home loans don't have this "construction/draw" feature so check with your lender. You should see a slight reduction in your site contractor's bid by using the "construction/draw" style loan that will typically offset any extra loan fees.
RENTER! CAN YOU AFFORD TO RENT?
This table shows you how much money you are wasting on rent.
IF YOUR RENT PER | YOU WILL PAY THIS* WHILE LOSING TAX BENEFITS AND APPRECIATION | ||
|---|---|---|---|
IN 3 YEARS
| IN 5 YEARS
| IN 10 YEARS | |
$350 |
$13,900.00 |
$25,600.00 |
$66,900.00 |
$400 |
$15,900.00 |
$29,300.00 |
$76,500.00 |
$450 |
$17,880.00 |
$33,000.00 |
$86,220.00 |
$500 |
$19,860.00 |
$36,630.00 |
$95,625.00 |
$550 |
$21,846.00 |
$40,294.00 |
$105,187.00 |
$600 |
$23,832.00 |
$43,957.00 |
$114,750.00 |
$650 |
$25,818.00 |
$47,620.00 |
$124,304.00 |
$700 |
$27,804.00 |
$51,283.00 |
$133,874.00 |
$750 |
$29,790.00 |
$54,946.00 |
$143,737.00 |
$800 |
$31,776.00 |
$58,609.00 |
$152,999.00 |
$850 |
$33,762.00 |
$62,272.00 |
$162,562.00 |
$900 |
$35,748.00 |
$65,935.00 |
$172,124.00 |
$950 |
$37,734.00 |
$69,598.00 |
$181,687.00 |
$1000 |
$39,720.00 |
$73,261.00 |
$191,249.00 |
*Assumes 10% annual rent increase.