The manufactured home loan process is more complex than financing a traditional site-built home.
Not all lenders offer loans for manufactured homes and many who do are not proficient with this loan type. This lack of expertise often results in a less than stellar experience for a manufactured home buyer and the agents involved. These tips should help distinguish the facts from all the noise with the end result a more satisfying home purchase experience.
Modifications to the original manufactured home
I see this quite often--additional living space added via room additions or similar modifications to the original manufactured units. This can be a problem if the modifications cannot be proven to have been completed with local building department permits. Without confirmation from the local building department the additions/modifications are permitted an engineer's inspection and certification is required --example below-- that confirms the additions do not affect the safety, structural soundness or habitability of the manufactured home.
The cost of this engineer's certification can run into the high hundreds for minor additions and even into the thousands for more complex additions. The potential cost is hard to estimate since it would be property & location specific as well as based on the scope of the additions.
There is also the potential the additions are not certifiable and no refund of the engineer's fee would be possible.
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