Can you buy a mobile home directly from the manufacturer?
Most manufactured homes are sold through retail sales centers, many of which are independently owned and operated. Most states do not allow you to purchase a home directly from the manufacturer.
How much is a manufactured home in Florida?
Buying a Used Mobile Home The average price of a used mobile home in Florida is around $47,853, but options can range far below or above this. The average size was about 1,100 feet (a usual double-wide).
What credit score do I need to buy a double wide mobile home?
580 to 620
Most lenders require a minimum credit score of 580 to 620 to buy a mobile home.
Are double wides worth the money?
A double wide home is a great way to save money while providing you and your family the space needed to live a vibrant life and a place to rest. It will only cost a fraction of what a site-built house cost you.
How long does it take to set up a double wide mobile home?
It will take around 14 days to install, however, and is more expensive than non-permanent foundations. Expect to pay anywhere between $6,000 and $15,000 for a standard double wide.
Can you buy a mobile home with a 500 credit score?
The higher your credit score, the easier it will be to qualify for a mobile home loan with competitive interest rates. “FHA will finance with a 500 to 589 credit score and 10 percent down,” Sexton says. “Credit scores with 580 or above will only be required to have a deposit of 3.5 percent.
Can I buy a home with credit score of 550?
Consider an FHA loan The loans, backed by the FHA, are available to any borrower with a credit score of 500 or higher. In other words, if your score is 550, you can apply for an FHA loan that only requires a down payment of 10 percent of the home’s purchase price.
How long will a double wide trailer last?
SHORT ANSWER. The U.S. Department of Housing and urban Development (HUD) tells us that the manufactured homes built today have a life expectancy of 30 to 55 years; of course depending on how well they are maintained.
Why are double wides so cheap?
Because they are mass produced and built on assembly lines, manufactured homes cost less to make and therefore less to buy. This cost saving comes with a catch, however. Many lenders only offer mortgages to people buying real property, which the law generally defines as land and anything permanently attached to it.