We were looking into buying a home from a company. We had been denied an FHA loan initially with a lender. We decided to look into the option of a modular home because they had a different set of financing.

We were approved easily enough and everything sounds great.

No down payment. (up front)
No closing cost.
But the catch is, we give them the 8,000 dollar house credit we will recieve "as the down payment."

Now, I may be thinking about this all wrong, but with the amount of our loan, the fact that it is FHA (through them) and the closing cost I really don't think all that would add up to 8,000.

When we looked at a similar house, they quoted us at around 3,000 dollars as a down payment for the FHA loan.
Even if our closing costs were 3,000 dollars that still doesn't add up to the 8,000 that they're asking from us in the end..

Is there something I'm over looking in the procedure that makes this a good deal or am I right about my gut instinct that something seems fishy?

Thanks in advance!
What I'm wondering about is if this is actually a reasonable deal? We've never bought a home before so we don't know all the fees and other things that go along with it. For all I know, 8,000 dollars is the right amount to make it happen. I'm just not entirely sure. It would be great b/c we don't have a down payment at the moment, but I'm unsure.

Technorati Tags: buying a home, closing cost, closing costs, fha loan, gut instinct, modular home, thanks in advance

I need architechtural plans and realistic way to cost out a "green" home less than or about 2000 or so sf.

Here is what I want:
-passive solar
-Depending on costs:
–gray water recycling
–under floor radient heating
–consider alternative construction like straw bale/rammed earth or modular
–recycled materials for insulation
–bamboo
–natural materials
–solar panels
–heat pump
I'd really like to do it right but I'm of moderate income and single middle aged woman.

I need it to be affordable. I'm in Alabama and few do this. I need to keep humidity and heat and climate in mind.

Under or around 2000 sf

Any info on financing for green homes would be welcome too;

Technorati Tags: alternative construction, climate, earth, gray water, heat pump, humidity, insulation, middle aged woman, moderate income, natural materials, radient heating, recycled materials, solar panels, straw bale, water recycling

We will be able to put down between 6 to 10 thousand on either property or a house. Our credit scores are both in the low 500's, I have a repossession judgement and some few old small bills but no credit cards. I have nothing that shows good payments.
If we buy property at 30 percent down could we get financed for the remaining 70 percent and how likely would we be able to get financing for the improvements and a modular home or a double wide trailer using the land for the collateral?

Technorati Tags: collateral, credit cards, credit scores, double wide trailer, improvements, judgement, modular home

My fiancee and I are getting married in September. We have considered starting to build our own home, but then we discovered modular homes. We want about a 1400 square foot home, 2 bedroom, 2 bath, as we are not planning on kids for some time. We found the perfect modular home that meets our standards. I understand that modular homes are often built cheaper. If you have any knowledge, or own a modular home, please tell me how much they cost, what all is involved with the process of buying, building, and moving. And also, how these are financed. Thank you in advance!

Technorati Tags: fiancee, modular home, Modular Homes, square foot

I have a 1994 mobile home on a big corner lot in PA. The mobile is anchored to a permanent cement slab and the axels and tires were pulled. There is now an addition so it looks more like modular, double wide,, not sure of the correct wording. The land and the home are both paid in full. My credit is fair. As soon as they hear "mobile" the conversation is over. Am i looking too the wrong lenders? Why will they not give me a loan and use my home as collateral? The property is worth about 78,000 and I only want to borrow 28,000. Banks will finance them when they are bought from dealers so why is this different? I really need to figure this out and find someone who can quote me terms w/o wasting each others time. The property is also paid in full. I have a land deed for that and a title for the mobile home. Can i change the title to a home deed? Good luck with this one,, I appreciate ur input.

Technorati Tags: axels, banks, cement slab, collateral, good luck, land deed, lenders, mobile home, tires

We were financed for our modular three years ago. We would love to buy a home that is not a trailer. We have no money to put down, take over payments would be great.Do we still qualify as first time buyers?

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A couple lumber stores in our area have them, but I wanted to compare nationwide, but I can't find anything. Also, I would like some prices on modular and mobile homes as well.

Technorati Tags: lumber stores, Mobile Homes

I am feeling that previous answers on yahoo answers have been biased based outdated experiences with Manu/Mod housing. I have just visited a manufactured housing institute here in California. And it appears to me that if you buy a modular or manufactured house and set it permanently in the ground so that it is considered and financed as real property, then these type of houses are actually superior in terms of cost, speed, and quality. They are built to HUD and state regulations inside controlled environments. Although there are thousands of styles to choose from, the only downside I see is that you cannot get too tailor the architecture too much. In addition, Warren Buffet just invested billions into some MH companies. I think he is thinking that the cooling in housing is going to increase the demand for affordable homes. Any thoughts, experiences especially here in CA?
Wow………….,
Wow………….,

Technorati Tags: architecture, billions, controlled environments, downside, experiences, hud, manu, manufactured housing institute, mh, yahoo, yahoo answers

I am looking at purchasing a modular home to put on my existing site. The home itself costs approximately 0,000. I am single and only have 2 credit cars which total approximately 00 combined. I did have some financial troubles but I am looking for a 100% finance loan or low cost closing mortgage. I am looking to build because I need to move my 85 year old grandma into my little home and this house with more rooms is necessary.

Technorati Tags: credit cars, finance loan, financial troubles, modular home, mortgage, old grandma

I have 4 children that would like to keep their own bedrooms after years of having to share. I own 1.5 acres of land and a double wide mobile home. I want out of my mobile home. I have been seriously looking at log cabins & modular homes. I would put them on a slab on my property. After weeks of internets searches, I found a modular home that I am very interested in–the Cinci Cape by Palm Harbor. Anyone have any input on modulars or Palm Harbor?
How well made are they?
Do they retain their value?
Does thair value increase like a traditional "stick" home?
How do they compair in cost? Are they really substantially cheaper?
What should I look for?
If I decide against the modular home, what input do you have on log cabins?
Are they a realistic option in southern LA?
Are they energy efficient?
Do they settle and become unlevel?
Ideas people?
I cant afford to build traditionally, but I do not want to live in a mobile home any longer.
There is a substantial difference between mobile homes and modular homes–the differance starts with the ground up… mobile homes are on metal frames and are raised–modular homes are built like "stick" homes and can go on foundations/slabs.
Also, I am not renting. I own the land outright and have a mortgage on my mobile home. And, surprisingly, the value of the two has almost doubled since I bought them 7 years ago.

Technorati Tags: bedrooms, cinci, differance, double wide mobile home, foundations, log cabins, metal frames, Mobile Homes, modular home, Modular Homes, modulars, mortgage, palm harbor, realistic option, slab, slabs, substantial difference

Its 5 years old, 1584sqft 3 bedroom, 2 bath and sits on a 4ft crawlspace. It is sitting on 2.75 acres. Another catch is, there is an old 800 sq ft farm home on the property too. Its a Bank Foreclosure and listed with a local Real Estate Agent. THe asking Price is 87,900. The assessed value of the Parcel is 000, True Cash Value of 6000. THis is including land and both houses.
Any ideas of what i can do.. Its the only House in the area I’m interested in..

Technorati Tags: asking price, bank foreclosure, crawlspace, local real estate, real estate agent, sq ft, true cash

We do not want to put a modular home up. We figure if we are going to put a home on the property we want it to last us. There used to be a modular on the land so the basics are already out there. Or should be. We live in Southern NC, what cost will this be, how do we go about finding builders, What are some issues we may not think about. How can you get it financed?

Technorati Tags: modular home

We are thinking of purchasing a Modular A Frame Log home to put on some land in North Florida. Can anyone suggest a good manufacturer for log homes that is reputable, affordable and quality?

Technorati Tags: log home, log homes, north florida

I am considering buying a modular home in Missouri. I know there are extra costs besides the home…was wanting to know where to go for a loan, how much I need down, what is needed (like home insurance and how much that costs)…Any information would be great because my boyfriend and I are very young and first time buyers…so we need a good starting point. We are going to the dealer, but would like to know about financing options.

Technorati Tags: financing options, first time buyers, good starting point, home insurance, insurance, modular home

I have just purchased a log modular home. The walls in the living room are cream colored. One wall has log all along it. It is a light tint. Light is no problem. I want a clean/fresh look but also keeping in the log tradition. Can anyone help, Thanks…

Technorati Tags: fresh look, living room, modular home, tradition

That is absolutely ridiculous!! I have heard that since they are considered vehicles they are had to get financing on and they are hard to resale. Does anyone else think this is crazy??

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Using either one or more steel shipping containers (40×8x8.5) I'm considering building several houses to rent and/or sell. I'm aware that mobile homes do not appreciate and bankers treat them differently when financing. I am only interested in building houses that appreciate and can be financed just like a modular home (not a mobile home). I would pour a concrete pad with a pressure treated sill and use hurricane tie-downs, install a well and septic, all on a single family lot. Sometimes I would use just one container, sometimes 4 or 5 all connected together. All interior aspects would be built before being delivered to the site. Any clarification on how not to be a mobile home would be appreciated. Many thanks!

Technorati Tags: building houses, clarification on, concrete pad, hurricane, many thanks, mobile home, Mobile Homes, modular home, several houses, single family, steel shipping containers, tie downs

I am planning to buy a modular home for retirement. I need background information ASAP! I need catalogs with models, upgrades, prices, setup costs, pre-construction costs, construction costs, time constraints, financing information, money needed to start orderinghome/site prep/construction/etc. A plan with appropriate time schedules to order, purchase, deliver home to site, site prep, setup home, garage(?), sidewalks, copper plumbing(?), all electric home(200-300 amps?)), oversize doors (36" interior & exterior), exterior lights, electric appliances(washer,dryer,dish washer,microwave,central heat & A/C),etc.

Technorati Tags: amps, background information, catalogs, central heat, construction costs, copper plumbing, dish washer, electric appliances, home garage, information asap, information money, microwave, modular home, pre construction, quot, retirement, sidewalks, time constraints, time schedules, washer dryer

I financed a home, with a Modular home dealer, in the process of finishing the home the dealer's finisher replaced a leaking water valve. overnight the valve blew off flooding the whole house.
next the dealer had a restoration company out drying floors and tearing out tile (vct) after the dry out they wer told to replaced the under belly with all new insulation and hard board. they did there job. then the dealer sends out there tile man, Now i get informed that all this is being claimed in my name with the insurance company, Now all the checks came to me and in and the finace company name. The money that came in was way over the cost of the repair. The restoration company had gave me a copy of the bill I was told to sign these checks and send them on to the finace company, or else they would try and take my land and forclose on me. Now this is all way before I had even signed the Note .
how do I find out where the rest of the Money went.
It defently was not applied to my Morgage

Technorati Tags: checks, forclose, insulation, insurance, insurance company, job, modular home, money, morgage, restoration company, tile man, vct, water valve