The Manufactured Housing Forums

My aunt has a MH built in 1997 or 1998 and wants to carry financing for me to purchase the home at $450 a month and $33 for water and $ 23 every three months for trash. It is a 3 bdr 2 bath carport and storage unit. It is not coded as real property at this time but is on a foundataion. She says she paid $110,000 for it which I can not believe. She mentioned 30 years at 0% which would put the overall at $162,000- I do not feel it is even worth what she purchased it for. I am concerned about this and the fact that MH have been said to be hard to sell since there are not many lenders that will finance for the purchase of a MH. Should I take the offer, offer her 15 years at $450, or let ehr sell it to someone else.

Actually 0% interest is hard to find...also if she talks to a tax adviser she might change her mind...

As far a price is concerned..It is impossible for any of us to tell you if the price is right...but...I can tell you this...a $60,000 loan at current rates would be about $450 per month for 30 years...NOW..what can you find for 60K in your area??????????

There are scores of lenders who will finance credit worthy folks on permanently sited manufactured homes...Maybe hundreds of companies..Check around..