Who refinances mobile homes12/30/2023 ![]() ![]() The average price per square foot is $100-$200 for an average price tag of $270,000. Modular homes must be built to local building codes, have custom-made components, made in sections off-site, and the completed units are transported to a building site and joined on a foundation. These homes are mass-produced with prefabricated components, built to be finished off-site, and transferred as a single unit to a property it will reside on. The term manufactured home was used after 1975 when construction regulations were established. ![]() Mobile homes are a term used before 1976 with minimal construction supervision and tend to have safety issues with the resale value of $10,000 or less. But if you’re leasing that land, you still have a couple of borrowing options. Most conventional VA and FHA loans for mobile homes and manufactured homes require you to have the house set on a permanent foundation and purchase the mobile home’s land. Though this article refers mainly to mobile homes, the same loan conditions apply for modular homes and manufactured homes we will explain the differences in a minute. How to Refinance a Mobile Home Without Land
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