The Manufactured Housing Forums

So, do your homework and be informed. If your sales center can secure the best financing for you, take advantage of it. In A. M. Watkins book, Manufactured Houses Finding And Buying Your Dream Home For Less, he states, “No matter what kind of financing you seek, the importance of shopping for a good loan at the lowest cost cannot be overstated. You will generally save by obtaining
your own loan direct from a lender, rather than financing the deal with your friendly mobile-home dealer who will be delighted to
handle the details for you. It’s convenient, all right, but it can also cost you extra money. After all, the dealer must do extra
work, so why shouldn’t he or she be paid extra.”

Ok Randy, I'm ready to do my homework, but how? Where do I start. I contacted Western Finance from this site and I was told that they weren't any better than Chase. I don't even know where to go from here. Can you give me some names of lenders that I can contact. In your opinion...or anyone elses, is it safe dealing with lenders off the web. I'm concern about giving my ss# and bank account number to these people. How do I know they're legit.

P.S. Once again Randy I know I need to get your book and I'm hoping it will be next week.

Try the following web site. www.mh-quote.com/main/finance.asp

Hello Dana,

Go visit your local lenders first before you go on-line. I have found that by sitting down with a loan officer you can make some real progress.

Randy Eaton

FYI- Im a loan office w/ a finance company, and my restirctions when dealing with a lender on a mobile home A: Single wides are usually not financed through a Bank or Finance Co. due to no real security to the property i.e-title. B: on Double wides, the maximum financing basically is 80% loan to value (Land + Home) of the fair market value on a refinance, and the rates/pricing tends to be a little higher due to the risk, or ability to remove the home from its location.....If you read this, what kind of costs are associated in the delivery and set up on a Dbl Wide? And, are there other fees to hook the home up to an improved lot?