Take great care to educate yourself on a variety of issues regarding mobile or manufactured home financing. You'll save yourself a lot of time, money and headaches.

5) Mobile Homes built before 1976 cannot be refinanced The HUD Code, instituted in 1976, changed the standards of safety and the construction procedures for mobile and manufactured homes. As such, homes built prior to 1976 were not subject to the HUD Code and are regarded by mobile home investors as a higher risk loan for a lack of a minimum code of construction. Due to this condition, investors will still provide financing and refinancing for pre-HUD manufactured and mobile home loans, yet at a slightly higher rate than their post-HUD counterparts.

4) You can get a co-signer if you have trouble qualifying Contrary to popular belief, mobile homes are not cars and cannot be financed like them. The loan contract regards the signers as "borrower" and "co-borrower(s)". Also, it is inferred, when a manufactured home loan contract is executed by the borrower and co-borrower(s), that they are agreeing to live in the home as their primary residence. Making a false statement such as this constitutes loan fraud and is grounds for federal prosecution.

3) 100% Financing is available to purchase a mobile home There are NO 100% (or "zero down payment") financing programs available for any manufactured or mobile home loans. Do not be fooled! Many loan brokers will attempt to accomplish this type of mobile home loan, fraudulently, claiming the home to be a stick-built condo. Be sure not to implicate yourself in this kind of scheme by verifying that your loan broker truly understands and has a wealth of experience in dealing with mobile and manufactured home loans.

2) Mobile Home Loans are not conventional loans It is a common mistake to classify mobile or manufactured home loans as not being conventional loans. A conventional loan is any loan that is not insured by the FHA or guaranteed by the VA or Farmers Home Administration. There are FHA and VA loans available on mobile or manufactured homes and they carry many stipulations and restrictions with them; however, a mobile or manufactured home loan through a financial institution such as a bank or credit union is absolutely a conventional loan.

1) Mobile Homes must be attached to a permanent foundation to get financing This false statement is the telltale sign of a loan broker who truly does not know anything about mobile or manufactured home finance. Permanent foundations have NO bearing on the financing of a mobile or manufactured home whatsoever, and usually it's just an excuse for the broker or institution to avoid making (what is perceived as) a higher risk loan for your home.

About the Author: Josh Ladick is with the San Diego Mortgage Group , a mortgage funding and brokerage firm, with a specialty in mobile home loans. They are located in San Diego, and have financed hundreds of loans across California, however they can finance loans for chattel mortgages across the USA. For more information: San Diego: Mobile Home Loans or Refinance California: Manufactured Home Loan United States: Manufactured Home Finance . You can follow his articles at http://www.mobilehomenews.com/

The power bill gets really pricey in the summer. HELP!

Question:

I have a double wide manufactured home in which one side of the house cools better than the other. I have had the crossover duct work changed out to regular metal duct work. It is all tight and secure. The crawl space under the house is very cool. This is the reason I had the duct work changed out--to make sure the crossover was secure. The back of the house has plenty of air coming from the vents but there is very little coming from the vents in the front of the house. The AC runs almost constantly in the summer. The power bill gets really pricey in the summer. HELP!

Answer:

It seems that you are air-conditioning the space under the home. If it is cool under there the air is escaping under the home. You replaced the crossover so it appears that it is not where the problem is. You have good air flow on the back side of the home so you can assume that the problem is in the front side where your not getting sufficient flow.You need to start just past the cross over and follow the duct work under the home. With a bit of luck you will be able to feel with your hand where the cold air is escaping. If not you will need to start exposing the duct work... By opening the belly board and inspecting the duct run, 'till you find the leak.

Once the problem is found and resolved be sure to repack the insulation into the floor and reseal the belly wrap. You should take precautions when opening the bottom and handling the insulation and use proper protective methods.

Rolled fiberglass insulation has plenty of air space included in it. I like to use the highest R value, thickest, rolled, insulation I can fit into the space between the bottom of the floor joist and the floor decking, with our crushing it. Once the insulation is in place you can purchase rolled vapor barrier material called Bottom Board by MH repair people and install it from below, stapling it to the bottom of the floor joist so it supports the insulation.

You can find bottom board products at The Mobile Home Parts Store

For details about installing insulation and important safety tips see How to Install Fiberglass Insulation and Crawl Space Insulation, from the U.S. Dept of Energy.

If your looking for a book that covers all facets of manufactured home repair see The Manual for Manufactured Home Repair & Upgrade

Ask Your Question at http://mfdhousing.com/phorum5/list.php?2

4 Top Reasons to Refinance your Mobile Home

There are plenty of good reasons to refinance. I will explain some of the most common reasons and also provide some useful advice on what you need to consider before refinancing your mobile home.

Why consider a manufactured home refinance? When you refinance your manufactured home, you are basically getting a new loan, usually with better terms, to pay off or replace the loan you currently have. While the mobile home refinance loan process is quite different than a real property stick built refinance, financing for manufactured homes is available in space rent parks, co-op parks, parks where you own your own lot, and mobile homes or manufactured homes located on privately owned land. In no particular order , here are the Top Four Reasons to refinance your Mobile Home:

1. For a fixed rate loan, to provide stability
2. To access home equity for home improvements
3. To lower interest rate and/or monthly payments
4. To consolidate debt/pay off credit cards.

The first reason for refinancing your mobile home mortgage is to obtain a fixed interest rate and eliminate the costly adjustable rate feature of your existing loan. Sure, an adjustable rate mortgage is a good way to purchase a mobile home with low initial monthly payments, however, the sporadic rate fluctuations and the potential for large interest rate jumps can be not only alarming, but very costly. This is why many homeowners consider refinancing into a fixed interest rate loan.
The second reason for refinancing is pulling the equity out of the mobile home; this is a popular reason for refinancing. Perhaps you are in need of some cash to pay for your children or grandchildren's college tuition, or you are looking to make some home improvements to maintain the value of your home. Planning for retirement is another common reason to tap into the equity you have built up in your manufactured home.
The third reason behind refinancing a mobile home is to lower your current interest rate and monthly mortgage payment. Now this may seem simple; who doesn't want lower payments? But even if you are currently in a situation where you can afford your monthly payments, then refinancing your mobile home loan with a lower interest rate may allow you to shorten the length of your loan, pay it off sooner, and easily make additional principal payments towards the principal balance of your loan from time to time, if you so desire, to pay the loan off even sooner.
Now let's review the fourth reason that mobile home owners have for refinancing; consolidating debt, paying off high interest rate credit cards and auto loans. Taking cash out of your home to pay off debts that have high interest rates and non-deductible interest costs is a very popular reason behind refinancing mobile home and manufactured home loans. The interest on your mobile home loan is, typically, tax-deductible. If you have a considerable amount of credit card and auto loan debt, it can make sense to use some of the equity in your home to pay off these costly amounts. After paying these debts off with a manufactured home loan, the interest you pay on your new mobile home loan is now tax-deductible. Now, keep in mind, it is always advisable to seek advice from your tax advisor about your particular tax situation.

Costs are another important consideration when refinancing a mobile home. Some mobile home lenders now offer low flat rate fees, if you are looking to refinance with the lowest expenses possible. Most borrowers have the option to pay any fees associated with refinancing up front while closing their loan, however one may also be able to include these fees into the new loan amount and keep out of pocket expenses at a bare minimum. Just like a traditional home loan, borrowers can also buy down the interest rate. To do this, borrowers may be charged with points.

Points are additional fees that are paid at the time of closing to the lender that is financing your new manufactured home loan. Usually a point is considered one percent of the new loan amount.
You will want to carefully consider all of your options first with a qualified professional mobile home and manufactured home lender. Knowledgeable lenders that are licensed to do mobile and manufactured home loans in your state should be able to help you decide whether the cost of the loan is worth the savings. Also, they should be able to tell you the facts before you have to make a payment of any sort.

About the Author: Josh Ladick is with the San Diego Mortgage Group , a mortgage funding and brokerage firm, with a specialty in mobile home loans. They are located in San Diego, and have financed hundreds of loans across California, however they can finance loans for chattel mortgages across the USA. For more information: San Diego: Mobile Home Loans or Refinance California: Manufactured Home Loan United States: Manufactured Home Finance You can follow his articles on manufactured housing financing at www.mobilehome.com

Can I Install French Doors In My Manufactured Home ?

You can renovate your manufactured home in much the same way as any other framed structure

Like any structural changes putting in a French Door could create a problem if it is not done correctly. The header that holds up the structure over each window would need to be increased in length and probably in width in order to hold up the structure of the home that will be over the greater open space of the double doors.

We have successfully replaced windows with sliding glass doors several times. If you have not had experience with this type of carpentry you should seek the services of a competent contractor who understands how to compensate for the added open space.

Most glass doors placements make the interior of the home feel more spacious and open. The additional access to the exterior, especially if you add a porch or patio just outside the door can greatly enhance your enjoyment of being at home.

If your looking for a book that covers all facets of manufactured home repair, take a look at The Manual for Manufactured Home Repair & Upgrade As you would expect from the title, The repair and upgrade techniques described in this manual are specific to manufactured homes. This book will answer most question on manufactured home repair. Not only does this book show you how to repair and maintain your home, but also great methods for upgrading it.

If your looking for a French Door or other parts for manufactured home repair or renovation try the Online MH Parts Store? If you dont find what you need on the web site, friendly & knowledgeable customer service representatives are available to answer your questions or take your special order.

How to stop rain water from washing out your manufactured home foundation

I had water running down hill under my manufactured home that was starting to wash out the foundation system. We installed a French Drain on the high side of the house.

A French Drain is nothing more than a trench that goes across the end of the home where the water is coming from. Its depth will depend on the amount of water you want it to handle. At my place we trenched down about 5 feet.. put about a foot of drain field rock on the bottom... above that layer of rock we put perforated pipe with the holes
pointing up. We extended the trench and pipe around to the low side of the house and let it break out of the ground at a steady drop. We covered the pipe with six inches of rock, then a layer of septic field sand filter paper, and then
rock to the top.

PLAN CUT VIEW OF FRENCH DRAIN


This creates a drain that will carry the water around the house and drop it off the low side... The ground water drains from the surface into the gravel, this water flows through the gravel slowly into the perforated pipe which acts like a
"highway" removing water from the trench

We are fortunate as the low side of our property drops into a lake. You may run into a problem is there is another home or other fixture on the low side that your drain water would damage. . French drains can lead to dry wells or environmentally-friendly rain gardens where the extra water is held and absorbed by plants, when city water
systems, or other waste water areas can not be used.

VIEW OF FRENCH DRAIN FROM THE TOP

FRENCH DRAIN WITH BASE ROCK AND PIPE

For more details see:

BUILDING A FRENCH DRAIN TO STOP MOISTURE UNDER A HOME

How To Install French Drains for Yard Drainage
Wikipedia on French Drain
French Drains cure Saturated lawns & basement flooding