Ready to Downsize? Don’t Discount Mobile Homes

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Let’s be honest. Mobile homes have gotten a bad rap in the past. If the word “trailer” conjures up mental images of a flimsy, unkempt box-on-wheels, it’s time for a mind shift. Mobile homes aren’t the fire traps and tornado magnets we’ve unfairly made them out to be. Are you ready to join the “living with less” movement? If so, let us help erase the stigma of this realistic downsizing option.

Little House – Big Luxuries

If you haven’t been in a mobile home in a while, you owe yourself a peek inside one of today’s models. You’re likely to be bowled over by the upscale treatments you’ll see in every room. Downsizing doesn’t have to mean sacrificing the amenities you love – granite countertops, stainless steel appliances, walk-in closets and spacious bathrooms – and with a mobile home, you don’t have to. Even if the only “downsizing” you’re willing to do is on your mortgage payment, you don’t have to compromise on space if what you really want is three bedrooms, two full baths and a spacious open floor plan.

The Affordability Factor

This is where manufactured homes start looking really attractive. According to the Manufactured Housing Institute, the average sale price of a new mobile home is about $64,000. Compare that to the Zillow National Home Value Index of $180,800, and it’s plain to see mobile homes are one of the best housing values on the market. The primary reason manufactured homes are so much more affordable than stick-built homes is that they’re efficiently built in a factory-controlled setting. Mobile home builders can save big money on construction materials by buying in bulk, and the extra expense of weather-related delays, home site theft and vandalism and unsupervised labor isn’t a factor. And because contemporary mobile homes can be much more energy efficient, you may save money on your utility bills, too.

Financing – Simpler than Ever

Since mobile homes are much more inexpensive than traditional single family homes, down payments on mobile home loans are usually lower than with a conventional loans. Through the Federal Housing Administration (FHA) certain lenders can provide FHA mobile home financing tailored just for manufactured home purchases on owned land. Since they’re backed by the federal government, these loans carry reasonable rates and are available in 15 or 30 year terms. There are certain eligibility requirements for mobile home loans. According to information on’s website, the house must be a minimum of 400 square feet, and it must meet federal construction and safety standards that were implemented on June 15, 1976. You can find a comprehensive list of guidelines and eligibility requirements on the Department of Housing and Urban Development’s website.

If you are looking for financing for a manufactured home in park and/or on leased land, there are lenders out there such as 21st Mortgage and JCF Lending Group, and Mountainside Financial who offer this service.

It’s enticing to dream about tossing aside the excesses of modern life and paring down to the essentials, but sometimes that’s easier said than done. Frankly, we like our modern conveniences. Considering a mobile home purchase can offer the best of both worlds – simple, affordable living but with all the comforts we’ve come to love.

Some Lenders to Consider for Financing Manufactured Homes

9 Sylvan Way
Parsippany, NJ 07054
(800) 634-8616
Vanderbilt Mortgage & Finance, Inc
500 Alcoa Trail
Maryville, TN 37804
(800) 970-7250
Country Place Mortgage
15303 Dallas Pkwy #800
Addison, TX 75001
(972) 764-9200
21st Century Mortgage Corp
620 Market St #100
Knoxville, TN 37902
(865) 523-2120
JCF Lending Group
848 North Rainbow Blvd #2249
Las Vegas, NC 89107
(866) 967-0143
Mountainside Financial
60 Lake St Suite 200
St Albans, VT 05478
(877) 475-6852

Anna Platz is an Editor at, a leading mortgage rate research website, as well as the Lead Contributor to, a blog about budgeting and personal finance. Anna is immersed in the world of real estate, mortgage, and home financing and is here to provide valuable resources for homeowners and soon-to-be-homeowners on buying and selling real estate, researching a mortgage broker or lender, and securing a home loan. Check back often for news, updates, and remember that you can find today's current mortgage rates at My Google Profile+

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