Financing Options for Park Model Homes
For a while there, financing options for park model homes were hard to find. Initially it was the fact real estate – site built homes – were financed by so many brokers who would dissuade consumers from opting for manufactured homes in the first place. Thereafter, banks looked to consumers taking out loans to the tunes of hundreds of thousands of dollars rather than only tens of thousands, which is the average manufactured home loan.
In the wake of the recent upswing in manufactured home sales, financing options for park model homes also have increased. Suddenly small loans are no longer so hard to come by and those relying on lenders to write them find that they are competitively priced when compared to average mortgage loans. Even lenders that in the past were reluctant to even consider writing these loans, are now at the forefront of courting consumers.
Of course, savvy consumers know looking for financing options for park model homes is best done by going with lenders specializing in this niche of the lending market. This ensures the best customer service and also the best – and lowest – rates. Additionally, these types of lenders are always available to help with loan upgrades or even refinances, if this becomes a need in the future.
Tags: financing options, manufactured home loan, manufactured home sales, mortgage loans