The 10 Commandments of Buying A New Manufactured Home

The new year has begun and spring is approaching, sounds like a great time to start the search for a new manufactured home. A home is likely the biggest ticket item you will ever buy. The enormity of that decision should not be taken lightly. To purchase the right home for your family at an affordable price requires  a well prepared plan and a commitment to that plan. The following are 10 suggestions that we believe will be beneficial to your manufactured home purchase, along with reading material selections from our library of Manufactured Home articles.

1.  Have a financial plan –  Make sure your budget takes into account the expenses and benefits (property taxes,insurance, mortgage, tax benefits) of homeownership. We suggest that you begin the budgeting process by using our  “Affordability Calculator” located on the drop down menu of the “Learn” icon located on our home page.Suggested article relating to budgeting: “How To Estimate Your New Manufactured Home Budget

2.  Know your credit standing –  It is important to know your credit standing. When it comes to saving money and qualifying for financing, the higher your credit score, the better your chances of approval and the lower your rate will be.  For more information on credit rating scores, read: “Understanding Your Credit Score and Credit Reports Is Key To Obtaining A Manufactured Home Loan

3.  Decide on a location –  The typical choices are private land or in a land-lease community. There are advantages in either choice, however there are different budget considerations as well as logistic differences that you will need to be aware of before proceeding with your purchase.If you are placing your new manufactured home on land that you own or intend to purchase, read: “Placing A Manufactured Home On Private Property And What You Need To Know.”  If placement is to be in a land-lease community read: “What To Consider When Choosing A Manufactured Home Land-Lease Community

4.  Know what you want – How many bedrooms do you need? bathrooms? Visualize your life in your ideal home. Distinguish between “needs” and “wants.” Be prepared to make some trade-offs, but know the areas where you will not compromise. This will help you narrow your search.

5.  Do your research – Here at you will find all the tools and information to discover the right home for your family. You will be able to review floor plans from all the manufacturers of today’s manufactured homes, compare specifications, see videos, and secure competitive price quotations, all from the comfort and privacy of your existing home.

6.  Understand what you qualify to buy – Knowing your financing options that are available for manufactured homes is an important consideration to your successfully attaining the home you desire to purchase. Obtaining a pre-approval from a lender before committing to purchase will relieve any uncertainties about what price home you are qualified to buy.  For more information on manufactured home loans and mortgages, read: “Manufactured Home Financing Tips

7.  Don’t buy more home than you need – Buy within your means.If we’ve learned anything over the last few years, living within our means is not only a commandment, but should also be considered a golden rule.

8.  Have loan processing documents at your fingertips –  Your lender is going to want a lot of documents before approving your loan application. This includes bank statements, pay stubs, and two years of W-2’s and tax returns. Your bank statement balance should show the amount of money you will need for the downpayment.

9.  Avoid major purchases before you close on your new manufactured home loan –  Such purchases made between loan approval and closing could have a major impact on your credit and credit score, possibly causing you to lose the loan.

10.  Have a comfort level with your retailer – It has been said, “from whom you purchase is just as important as what you buy.” Having a rapport with the seller is critical to the enjoyment of the home and home buying process. Suggested Further Reading: “Completing The Purchase


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