The Manufactured Housing Forums

When a sale center offers 100% financing and no closing cost, does that mean I will be paying more for the home then what it may be worth. What type of loan will be offer to me if I owned my land, would that be home-only loan. Also I would like some info on Brickadire Manufacturers. I live in Va.

There are 2 types of finance for manufactured homes...
Home only...always requires some downpayment..usually has little or NO closing costs..downpayments will start @ 5% of the sales price...the larger the downpayment....the lower the interest rate..This financing allows the home to be put any where that is legal..your land, other folks land..manufactured home parks...

Mortgage finance (land/home)...can finance the home, land and all improvements..Usually the loan will require 3% or more down and does have some closing costs..If you already own your land (even if you still own money on it) the land equity can replace cash dowmpayment..All mortgages have some closing costs...some times the dealer pays them out of the price he charges you...of course this means that he could have sold the home for less..Sometimes the bank will show no closing costs but raise the interest rate to cover them..

For most folks that have the land or are buying land..mortgage finance will be much cheaper than home only..For a customer with exceptionally great credit and very large (20% or more)downpayments..Home only might be a little less expensive in the overall..

Brigadier Homes is part of the Cavalier family of brand names..They are built in North Carolina...They have excellent features and are an excellent value...