Financing a home on land

[April]

We have been house hunting and more and more, the houses that come up that we like are manufactured homes. We are pre-approved with a great interest rate and low payment on a 'frame' home. The lender will not do manufactured.

The manufactured homes we are looking at are all on their own land, 2 with 'crawl space' and one with a full basement. One of the ones with a 'crawl space' do have the 2 car garage underneath. You cannot get into the home from the garage.

How do we go about finding what financing is going to cost us? We don't want to pay more money for 'less' home.

The manufactured homes offer us the chance to be out in the country with our own land and a very nice, good size home. They are all newer, under 10 years, for one and under 5 for the other 2.

However, in the end, are we going to be paying more and in the end, ending up with home that is worth less than we paid for it?

Insite and advice would be appreciated.

We are in the Kansas City, MO area, if that information helps.

[rmurray]

Welcome to the world of housing choices...We all have to make them..

Since you qualify for a mortgage...and these homes sound like they are well built and permanently placed..you should have no problem with finding a good mortgage company to finance the home you really want...There is a lender section of this site...or call other lender in your area..call a few dealers of manufactured homes and ask who the refer customers to in your area...Rates should be about the same..There are some arms out there as low as 4.5%...fixed rates from 6% +/- 1/2%....

Housing choices are like no other...be sure you are very happy with yours..