Why use a Mobile Home Loan Broker?

It's no surprise that if you need financing for a manufactured home, then working with a broker that deals with your particular needs is the way to go. However, many mobile home buyers are lied to by desperate loan agents or companies that are widely known for their track record in traditional home loans but are unfamiliar with mobile home refinancing and financing methods, and are just trying to tap into the mobile home loan industry. Only after dragging their customer through the entire process (and incurring loads of charges), does the untrained loan broker realize that they were unable to secure financing for a manufactured home in the first place. To tell you the truth, quite a few of our clients have come to us after their former finance broker refused to complete their loan. In this situation, a customer has no choice but to start over and leave behind the costs they already paid up to the sum of $1,000. As if that isn't convincing enough, here are the top three reasons to seek out a manufactured home loan specialist to fully realize your true financing options.

One. The finance and real estate economy changes every day, and this includes the manufactured home industry. Only a Specialist in Manufactured Home finance will know the funders that will and won't lend for Manufactured Home Loans. Many funders that used to lend on Mobile Homes, have ceased with their Manufactured Homeloan programs within the past 6months. Most likely, even if thefunderdidn't cancel their Manufactured Home programs, they have changed them significantly. Only a company that specializes in Manufactured Homeloans will know the ebb and flow of this highly specific industry.

Two. Manufactured Homefinance maintains it's own unique laws. An agent that typically deals with stick builthome loansis not privy tothe intricacies of the manufactured home industry. This leaves the customer quite exposed to legal action if the agent's lack of knowledge and experience causes any legal or regulatory issues during the deal. Manufactured Homes are handled quite differently on both the federal and state level, and unless the agent is familiar with these laws there is huge potential for a unforunate mistake.

Three. Using a Manufactured Home Loan Broker will save you money, in the short term and long term. Mobile Home realtors and loan agents without Manufactured Home experience usually apply their traditional home finance experience to Mobile Homes, and this is ultimately fruitless. They will charge the customer to get an appraisalon a home without first checking for any comparable sales in the area, which will make the home nearly impossible to finance. This will spend $400 of your hard earned money, and unfortunately you will have nothing to show for it. A Mobile Home Loan Specialistknows the best course of action, and you will take advantage of the years of experience they currently have.