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Too buy or not?
Posted: Tue May 11, 2004 8:26 pm
by Kathy
Help. My husband and I are so undecided. We love some of the man. homes in FL. but we hear so much negative talk from loan officers etc. Mainly the interest rate and depreciation are the reasons they give for not buying a man. home. What is your opinion? Is it better to buy stick built at a higher price for the look we want or a beautiful double wide on land? Thank you.
Re: Too buy or not?
Posted: Wed May 12, 2004 4:49 am
by Tom
Either stick built or MH are equal when MH is on a permanent foundation and you own the land. Some of the negative talk from loan officers is based on a lack of knowledge of the MH industry and market, and some are not aware of the governemental finance programs which are available for land/home packages.
Depreciation should not be an issue and appreciation should be comparable to stick built. Whether your home will appreciate/depreciate depends on the property location and the status of the properties around your home. (There are many other factors which affect this value for both stick built and MH.)
Your interest rate should be comparable to stick built loan, as well. (assuming you have good credit.)
The depreciation and higher interest rates come into play when MH is located on rented land and not on permanent foundations.
Re: Too buy or not?
Posted: Wed May 12, 2004 11:36 pm
by James
I agree 100% with Tom
We are in the process of buying a Homes of Merit Bay Manor and I can't say enough Good things about them.
Better built than alot of stick-builts unless you want to really get into the HIGH dollar ones.
Ours will be built in Lake City Fla. so if your anywhere near that do give them a concideration. You won't be disappointed.
If you don't like something they will change it.
Good luck and Happy Hunting.
Re: Too buy or not?
Posted: Thu May 13, 2004 5:55 am
by rmurray
You better find better loan officiers...These do not know of what they say...Try Lynn at Wells Fargo Mortgage...She specializes in manufactured homes..
Wells Fargo Mortgage....be sure to ask for Lynn Bochio
10514 Spring Hill Dr, Spring Hill, FL 34608
Phone: (352)683-3178 Fax: (352)666-9580
Map Drive
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