what kind of financing do banks offer on manufactured homes and over what number of years to pay it back?
I’m thinking about buying a manufactured home (MH) because it’s all I can afford & think the monthly cost could be less than rent is now. I currently pay $ 875 a month. MH is year 2000, 3bd 2ba, 1295sf with all appliances & extras listed for $ 39,900. It appears to be in very good condition. Does this seem like a fair price or high? I’m a 1st time home buyer & wonder if I am still eligible for same mortgage loans offered for a regular home with property? Does the bank even offer a mortgage loan on MH in a park charging lot rent? I want to be a smart consumer. I will appreciate any and all responses. Thanks