The 5 Essentials for Manufactured Home Financing
CMHI has formed a list of 5 important prerequisites to obtaining mobile and manufactured home financing. To satisfy the five essentials for real property lending on manufactured housing:
I. The home is installed on a state approved permanent foundation system.
II. The home is, in fact, converted to a fixture upon the underlying real estate.
III. The home is architecturally compatible with homes in the immediate neighborhood. This includes exterior elevations, garages, decks, porches and, where appropriate, landscaping.
IV. The interior amenities and quality level meet or exceed those found in homes in the immediate neighborhood.
V. The appraisal fairly and accurately establishes the value based on existing or new construction in the immediate neighborhood.
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One Response to “The 5 Essentials for Manufactured Home Financing”These are very important things that you must keep in mind for real property lending on manufactured housing.You have shared such good tips with us.Thanks.