Holton Creek Homes * 3411 S. Pacific Hwy. Medford, OR 97501 * 541-535-4151

 

FREQUENTLY ASKED QUESTIONS

WILL MY MANUFACTURED HOME ON LAND OR IN A PARK DEPRECIATE?

In general , manufactured homes will appreciate at the same market rate as other homes in the same neighborhood, but, as with all housing, it is subject to the same market factors that affect appreciation, including:

  • The housing market itself - are homes in general increasing in cost?

  • The community in which the home is located is it a rising or declining neighborhood?

  • The initial price paid for the home - some price ranges are more sought after. 

  • The age and how the home has been maintained. 

  • The inflation rate experienced.

ARE MANUFACTURED HOMES BUILT AS WELL AS SITE BUILT?

Homes built using quality materials and construction methods weather the years better.

Building materials found in manufactured housing are equal to that used in site-built construction. Unlike on-site construction, the lumber, insulation, siding and other materials used to build manufactured homes are never exposed to and potentially damaged by rain or other moisture.   Manufactured homes must satisfy a stringent federal building code. These standards cover structural design, construction, fire safety, energy efficiency and performance of heating, plumbing, air conditioning, thermal and electrical systems. Regional differences are taken into account for such considerations as snow load, wind tolerance and insulation.  The result is a home of great structural integrity and durability.

CAN I CUSTOM DESIGN MY OWN HOME?

You have a wonderful array of choices for how your home is designed, equipped and constructed both inside & out. You may even order a home stretched longer or have the floor plan flipped end to end or a mirror image. There are limitations by each factory. Just ask and we will see what might be done for you.

WHY ARE MANUFACTURED HOMES LESS EXPENSIVE THAN SITE BUILT?

  • Factory built construction is much more efficient than site built with assembly line construction, no weather constraints, and year round construction.

  • Building materials are purchased in mass volume which drives down the cost, also there are no delays waiting for materials.

  • Labor costs are less for experienced company employees versus independent contractors who must each carry there own insurance coverage, independent licensing and bonds.

WHERE CAN I PUT A MANUFACTURED HOME?

Manufactured homes may go almost anywhere these days; In town lots, subdivisions, rural settings and planned communities and developments are all possible locations for your new manufactured home.

WHAT TYPE OF FINANCING IS AVAILABLE FOR MANUFACTURED AND MODULER HOMES?

Just as there are choices when you buy a site-built home, there are a variety of financing options when you buy a manufactured home.  If you are buying the home and land together, or plan to place the home on land you already own, financial institutions offer land/home packages loans with similar interest rates. This type of loan includes the cost of the house, land and the improvements to the land and the exterior of the house.  Buying a home with land increases both its original value and its ability to appreciate over time.

WHAT ABOUT HOME ONLY FINANCING?

Manufactured homes can be financed in much the same way as a personal loan. This personal property loan is designed for customers who are going into manufactured home communities where they will be leasing their lot rather than buying/owning it or going on their own lot where the home will be taxed separately from the lot. The home is the only collateral on this type of loan.

You can still finance your exterior improvements (carports, decks, steps, etc.) as part of this style loan. Because this is a personal loan and not a real estate loan, interest rates are slightly higher than a regular real estate loan. However, there are few or no closing costs and no prepayment penalty for early pay-off in part or whole.

This also makes an excellent 'bridge' loan for those customers who need only short term financing. There are several 'industry lenders' who fund these loans.

 

 

 

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