Manufactured Housing: A Hidden Investment Opportunity

Remember your grandma’s mobile home park? Nothing to do, rickety houses lining disheveled streets. Today’s four and five star manufactured home communities are a far cry from those, and investors are taking notice.

These communities offer green spaces, amenities and high-end homes that offer the convenience of single-family homes without the cost. From fitness centers and clubhouses, to activities and luxury swimming pools, these communities are becoming more and more attractive to investors. In business terms, they offer stable returns, long-term occupants, and a relatively low capital cost to maintain the properties.

The financial risk is relatively low as well. Second only to self-storage, these communities have one of the lowest rates of default. It also has the second-highest net operating income growth, making manufactured home communities very attractive to both mom-and-pop, along with large investors.

Speaking of mom-and-pop, they make finding a manufactured home community for purchase difficult. The stability of the asset encourages long-term ownership, and the assets are often kept in the family. Still, investors in the market can often find a distressed property with 50% occupancy in need of repairs and community spaces. Besides mom and pop owners, large companies own a majority of the parks in the Untied States. Sun Communities, Equity Lifestyle Properties and RHP Properties are the top three owners, with a combined ownership of 200,000 sites.

An increased demand for manufactured housing from baby boomers and young families has encouraged lenders like Fannie Mae and Freddie Mac to announce an increase in manufactured housing production goals. The average cost of a manufactured home, minus land, is $70,600, compared to nearly $300k for a single-family home, according to the Manufactured Housing Institute.

Due to their affordability, manufactured housing falls outside of the institutional lending limit caps set for Fannie and Freddie. Interest rates have remained low, and borrowers have the option to shop around for the load terms that best suit the mobile home community, and the market. Because of this, borrowers benefit from a competitive product with a low interest rate, and a good return in a low-risk environment.

In the meantime, demand for manufactured homes continues to rise, leaving investors on the market searching for the next good deal.

You won’t believe these mobile home kitchens

When buyers walk into a home, they want to be dazzled. And the kitchen still remains at the top of most buyer’s wish lists. USA Today’s list of ‘11 Home Features Buyers Will Pay Extra For‘ mentioned 5 things in the kitchen alone: new appliances, granite counters, kitchen island, stainless steel appliances, and an eat-in kitchen. Guess what? Most new manufactured homes have it all, and for a price you won’t get in a comparable site-built home.

NEW APPLIANCES 

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In a new manufactured home, everything is new, not just the appliances. With many manufactured home dealers, you’ll be able to pick a floor plan and customization that fit you. Plus you can choose the appliances you’d like, everything from energy efficient glass top stoves to state-of-the-art refrigerators.  It’s a great feeling knowing you have brand new everything, usually with a warranty too! See more photos of this new manufactured home for sale in Ocala, Fl.

GRANITE COUNTERS 

Granite counters really make a kitchen come together in a stunning way. They are great surfaces to work on, easy to clean and offer a lovely look. Whether you choose dark or light counters, most new manufactured homes feature all the bells and whistles, including granite counters. If you’re looking to keep your home costs low, you can always opt for the standard counters and change them out later, but if you buy an upgraded home it will come move-in ready with no DIY projects needed. See more photos of this new manufactured home for sale in Bradenton, FL.

KITCHEN ISLAND 

Kitchen islands are a lovely addition to new homes. They are a great place to gather when entertaining, and with a few bar stools they’re the perfect place to have breakfast. Kitchen islands are large, so you can put out food when you have friends over, or use it as a prep space when cooking. This is a chef’s dream! The kitchen above features a beautiful island, compete with white cabinets and stainless steel appliances, offset by dark flooring and tons of natural light. And yes, that is a manufactured home. See more photos of this new manufactured home for sale in Ocala, Florida.

STAINLESS STEEL

As you can see from our beautiful kitchen pictures so far, stainless steel is basically standard in new manufactured homes. So why does everyone love stainless steel? It’s timeless, stylish and it will last a long time.Stainless steel is easy to clean, and it resists germs better than wood or plastic surfaces because it’s non-porous. Plus, stainless steel can do with any decor, whether you want to go dark or light. Just check out the stainless steel with some of our beautiful new manufactured home kitchens above. If you love to match, it will be easy to find stainless steel appliances, hardware, you name it. Go ahead and make the kitchen of your dreams come true! See more of this home for sale in Bradenton. 

EAT-IN KITCHENnew manufactured homes, new mobile homes, new 2016 mobile homes for sale, mobile homes for sale, mobile home kitchens, new mobile home kitchens It’s great to have a nice place to share a meal, as well as a formal dining area. Because many new manufactured homes have islands with seating options, and a dining area, you’ll be able to share casual meals at home, and entertain too! Or, you can have a dedicated area for breakfast and coffee, as well as somewhere to have dinner with your family. The great thing about new manufactured homes is that you can customize many of the floor plans, so you can even have a true eat-in kitchen and a formal dining room. Open floor plans are popular and stylish, so while it might not be a dedicated room, it will be the perfect spot to share a meal and some good memories. See more photos of this new manufactured home for sale in Ocala, FL.

How to Save Up to 47% on a New Construction Home

new construction manufactured homes, new manufactured homes, new mobile homes, new mobile homes for sale, new manufactured homes for sale, manufactured home financing, manufactured home appreciation, mobile home loans, manufactured home financingIf you’re looking for a new construction home, you could save up to 47% just by using this one simple tip. Don’t be scared of manufactured homes. A recent study by the Urban Institute’s manufactured housing sector, compared the costs between manufactured homes, new site-built homes and existing site-built homes. The study found that manufactured housing is 35 to 47 percent cheaper per square foot than new or existing site-built homes.

Despite this, the number of manufactured homes shipped each year has gone from averaging 242,000 per year between 1977 and 1993, to just 92,500 units in 2017, even though homes today are much higher quality. This phenomenon is thought to occur for a number of reasons, including restrictive zoning, unavailable finance, and lower appreciation.

The stigma on manufactured homes prevents many Americans from attaining affordable housing. We are going to debunk some of the stigmas above, including financing, zoning and appreciation.

FINANCING  

More and more financing is becoming available through programs like Fannie Mae and banks like Wells Fargo. Fannie Mae is launching  a 30-year financing program in New Hampshire that could be a starting point for government-sponsored enterprises (GSE) to offer similar loan terms nationwide.

 

In 2017, Wells Fargo hired two experienced manufactured housing executives to help expand into the industry, Matt Krasinski and Lew Grace of GE Capiutal Real Estate. Changes like these are coming to the industry all the time, offering more ways for people to finance and purchase manufactured homes.

ZONING

Furthermore, HUD is exploring the possibility of deregulating manufactured housing. HUD announced that manufactured housing plays a vital role in meeting that nation’s affordable housing needs, providing nearly 10 percent of the total single-family housing stock.

Manufactured homes, which are built on a permanent chassis in a manufacturing plant and then transported, are constructed according to a code administered by HUD instead of according to state, local, or regional codes, like other types of housing.

This gives HUD wide authority to regulate or deregulate them. HUD’s review of manufactured housing regulation is part of a broader effort by the Trump administration to do away with regulations it deems “overly burdensome.”

APPRECIATION

In addition, today’s manufactured homes are built to much higher standards than before, which means their appreciation happens much more slowly. New construction manufactured homes meet rigorous building, environmental and safety standards. Many come with everything from granite counters and tray ceilings to stainless steel appliances and beautiful raised porches. You can choose from flawless vinyl wood flooring, large bathtubs, exquisite kitchen islands, open floor plans and a variety of modern upgrades. Plus, most new homes are energy efficient and come with a full warranty.

We hope this has opened your eyes to the exciting opportunity available with new construction manufactured homes!

 

5 Reasons Manufactured Homes are Better Than Apartments

Today, manufactured homes are built with quality craftsmanship and materials. They are built by professionals in controlled environments, helping them produce excellent products with less waste.

These newer homes often include modern and luxury upgrades like granite counters, stainless steel appliances and garden tubs. They are built using strict guidelines, so in many cases they are just as safe, or safer, than site-built homes.

It’s easier than ever to get financing for a manufactured home, especially for newer homes. That’s why we think purchasing a manufactured home is even better than renting, especially if you’re in an apartment. Here’s just 5 reasons manufactured homes are better than apartments.

Let’s face it, manufactured homes get a bad rap. Even though modern day manufactured homes are totally different than their predecessors, people still can’t get over those old homes. But when it comes to making investments, we think mobile homes are better than apartments. If you’re renting an apartment, it’s a good time to consider purchasing a mobile home.

 

1. Your Own Space

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When you buy a mobile home, it’s yours. You can paint the walls and customize your home any way you like. Plus, you aren’t in close quarters with your neighbors. You learn all too quickly the schedules and habits of your neighbors in an apartment. Buying a manufactured home gives you a space that’s all your own.
2. More Bang for Your Buck

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In most cases, you’ll get more square footage, more storage and more options per dollar on a manufactured home than on an apartment. Today, manufactured homes often have two bedrooms and two bathrooms, a storage shed, a patio and large living areas. They feature open floor plans that create light and cheery spaces. Often times, you’ll pay more for rent in an apartment than you would for a mobile home mortgage. You’ll have the added advantage of knowing that your money is going to your home, not to your landlord.
3. A Backyard 
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The backyard on a mobile home located in Rolling Greens.
Not having a backyard is one of the most bothersome aspects of renting an apartment. When you purchase a manufactured home, you’re getting a backyard that you can enjoy. Whether you have dogs or just like to grill out on the weekends, a backyard can make a big difference. When you buy a manufactured home in Florida, you’ll find that you can spend a lot of summer nights enjoy your backyard. Plus, many manufactured homes come with screened in porches that feature ceiling fans, so you can be outside even on hot dogs. Invest in a corn hole game and invite neighbors over for a BBQ!
4. A Sense of Community 
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Residents raising the flag in honor of veterans in their community at Tuskawilla Trails.
Living in an apartment complex can make you feel very isolated. Often times you hardly see your neighbors and chances are you’ll never meet them. In many manufactured home communities, there are events, social activities and a true sense of community. Whether you’re a young family or enjoying retirement, a sense of community can keep you grounded. In Newby Management communities, we strive to create a strong sense of community through social activities. It fosters a family that many people don’t find in other communities.
5. Security and Stability 

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Renting an apartment can be a great option in the short term. It gives you flexibility if you aren’t ready to move to a permanent location. But when you’re ready to make a permanent move for your family or in retirement, buying a mobile home is a great option. It gives you so much value for your money, and you can feel more secure as a homeowner.

Give Your Manufacutred Home Curb Appeal in 2018 with These 5 Tips

First impressions are important. So what could be more important than the first impression of your home? This summer we are giving you 5 expert tips to give your home some curb appeal on a budget. Save money and make your home look great. Are you ready? Let’s get started.

1. Start with the Basics
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Okay, this one isn’t very much fun but it’s probably the most important step. Take a weekend to really clean the outside of your home. Power wash your house, mow the low, trim bushes, weed your plants and clean clutter. This gives you a clean space to start your journey.
2. Plant Some Flowers
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A little DIY landscaping won’t cost much and can add some serious curb appeal to your home. This manufactured is livened up with some lovely tropical shrubs and plants. You could even paint the bird bath and plant some flowers in there for some extra character. Pick out flowers that can survive the heat in Florida and make sure they are colorful!
3. Do Quick Updates
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This manufactured home is well-cared for and appealing. The outside of the home is cleaned and repaired. Doing small updates, like repairing any damaged siding, painting, fixing gutters and watering the grass can give a home new life. Try to tackle projects big to small.
4. Paint Shutters & Trim
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This adorable manufactured home features yellow shutters and trim to really give a pop of color to this home. Paint those to suit your own tastes. Choose colors that will complement the flowers you place in the front garden. Another quick tip for this home is to power wash the driveway!
5. Add Character in Fun Ways
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This beautiful home needs no work, but you can add touches of character. Paint the front door a cool color. A nice red would look good on this home and would make everything pop. You can also add some more plants and a few chairs to the front porch. Enjoy the new year, and the new look these simple touches can give your home!

Quick Pros and Cons to Hiring a Real Estate Agent to Sell Your Mobile Home

Manufactured home loans, manufactured home financingSelling your home is stressful, but preparing to sell it can be just as challenging. We’ve discussed some ways you can get your home looking great for sale, how to take dazzling pictures and why you need to respond quickly. Now, we’re going to talk about the pros and cons of selling your home without an agent.

PROS TO SELLING YOUR HOME WITHOUT A REALTOR
  • No Commission Fee: Generally there’s an agent commission fee of  about 6%, so a home listed for $250,000 would have a commission of roughly $15,000.
  • You Know Best: Who knows your home better than you? While a realtor may be selling several homes at a time, you are just selling your and you know it best. You’ll be able to point out amenities, features and tell the buyers candidly about the area and neigborhood, something a realtor can’t do.
  • You Are In Control: When you sell your home, you can choose the price, appointment times and how you negotiate with buyers. Realtors generally take control over these things when they become your agent, so if you don’t feel comfortable with that sometimes it’s best to do it yourself.
CONS TO SELLING YOUR HOME WITHOUT A REALTOR
  • What’s it Worth?: When you sell your mobile home yourself, you’re risking selling it for a lot less than it’s worth. In fact, statistics show that homes without an agent sell for about 15% less than homes sold with a realtor.
  • Less Visibility: There are tons of great places to list your home for free these days, but the best and fastest way is through the Multiple Listing Services. This is one of the biggest online tools available to realtors and they have more experience in promoting homes.
  • Time: Researching the process of selling a home, understanding the current marketing, advertising methods and working with potential buyers is all very time consuming. Hiring a realtor who knows this already will get your mobile home sold much faster.
  • Paperwork: Preparing the legal forms is your responsibility, so if you aren’t sure how to do it, you’re risking legal and financial liability. Plus,k you don’t want to rely on the buyers realtor to fill out this information, they have a responsibility to get their buyer the best deal possible.
  • Weeding Out Buyers: There are lots of buyers who aren’t qualified or are just window shopping. One thing realtors do is to make sure they are bringing prepared buyers to see your home who can afford to purchase it.
There are lots of pros and cons to selling your mobile home with a realtor. If you’re ready to take on the task, visit some of our other articles to see how you can best prepare your home for sale. If you’re selling a mobile home in Florida, give us a call at 941-721-0046 so we can see how our dedicated sales team at Newby Realty can help you sell your mobile home fast.

The Truth You Don’t Know About New Manufactured Homes

Looking for the truth on new manufactured homes? They aren’t what they used to be. You’re thinking of your grandma’s trailer. You know, the one full of  chotskies and lacking a certain modern flare? Get ready to be amazed, because new manufactured homes are bold, beautiful and better than ever before. There are tons of options for 2016 manufactured homes, but today we’re going to look at Skyline Homes.

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Skyline Homes is proud to present new 2016 manufactured homes that meet rigorous building, environmental and safety standards. These homes are not only beautiful, but are built to last. From the roof to the siding, you can be sure you’re home is top notch. To back the quality of their homes, Skyline offers warranties with their roofs (25 year prorated warranty), the durable vinyl lap siding (limited lifetime warranty), and even a 15 month full home warranty, which you can learn about below.

AMENITIES

Skyline Homes features floor plans and options to fit a variety of needs and budgets. Homes can include everything from granite counters and tray ceilings to stainless steel appliances and beautiful raised porches. You can choose from flawless vinyl wood flooring, large bathtubnew 2016 manufactured homes, new manufactured homes, mobile homes for sale, mobile homess, exquisite kitchen islands, open floor plans and a variety of modern upgrades to make your home uniquely yours.

ENERGY EFFICIENT 

Save money on your electric bill with energy efficient homes. 2016 Skyline homes are built with state-of-the-art floor, ceiling and wall insulation that help keep the home cooler in summer and warmer in winter. Skyline is an Energy Star partner, which means they’ve used Top-Grade Insulation, Extensive caulking and tight construction to eliminate unwanted drafts, High-Performance Windows and Doors, Use Energy Star approved materials including low-escape air ducts, so you can be sure your home meets energy efficient standards!

GOING GREEN

Love the environment? Manufactured homes produce 30-40% less waste than comparable site-built homes. Skyline homes has a commitment to going green and they build under strict environmental policies to help protect the earth and create beautiful homes in the process. You can learn more about their green building policies by visiting their website.

new 2016 manufactured homes, new manufactured homes, mobile homes for sale, mobile homesFULL 15 MONTH WARRANTY

Every new Skyline Home is backed by Skycare, a full 15-month warranty. This warranty is not partial or limited and includes manufacturing defects reported to Skyline within 15 months after original retail delivery by an authorized dealer will be corrected without charge and within reasonable time.

How to Sell Your Mobile Home Fast

For most the goal when selling a home is to do it quickly and for the highest possible asking price.  While you cannot control the market, you can control some variables that will help you get the best results.
LOOK AT YOUR CURB APPEAL
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The outside of your home is the first impression potential buyers see when considering your home.  A few simple things that can easily boost curb appeal can go a long way in catching a buyer’s eye.   Be sure your welcome mat is welcoming (aka clean, not dingy or faded).   Weed your flower garden, and add fresh mulch or rocks. Consider planting some colorful flowers that will catch a buyer’s eye, or putting some potted plants near your entry way.
Some other things to consider for the outside of your home.  What is the condition of your home’s exterior?  If you have gutters, are they cleaned out?  Do you need to update your paint job or perhaps even just the trim?  Consider power washing the home’s exterior, sidewalks, drive way and decking.  Check the rails leading into your home to make sure they are secure.  A wobbly railing, while it is an easy fix, can be a deterrent or worse harm a potential buyer.
FIRST IMPRESSIONS COUNT
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Have a bright, uncluttered entrance way.   Many LED lightbulbs on the market today are not only energy efficient, but also pleasantly bright.  Buyers want the entry area to feel spacious and clean.  Remove unnecessary items such as shoes, jackets, and umbrellas.   Keep the floor swept/vacuumed.  If your home has a tiled floor, be sure to evaluate the grout.  Does it need to be cleaned?   Or repaired?  What is the condition of your carpet?  Countertops?  Appliances?   Repairs can impact your bottom line, but there are some you should consider, because they will make your home more appealing to potential buyers.
Normally, one should want their home to be a reflection of themselves, however when trying to sell your home, you want buyers to be able to imagine the home as their own.   What does this mean for you?  Remove your personal memorabilia.  Pack away your family photos, take the magnets off the front of your refrigerator.  Repaint your interior if you do not already have neutral wall colors.
Consider renting a storage shed to help declutter and neutralize your home.   Excessive furniture can make a home feel cramped.  Clean out your closets, even if it means packing away the majority of your clothing.  The same technique applies to linen and coat closets, your pantry and any other storage areas including often overlooked areas like your kitchen countertops.   When selling a home, less is more.
OTHER THINGS TO CONSIDER
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We often do not notice the smell of our own home, because we are used to its fragrance.  Visitors however, notice the smell right away.  Consider having a neutral smelling air freshener to help neutralize the smell of your home.  Another alternative, if you have time before a showing is to drop some slice and bake cookies in your oven.  These will give a pleasant aroma that is not overwhelming for most visitors.  They also would look nice on a decorative plate on your countertop after they are baked.
If you have a cat, be sure the litter box is scooped daily.  Likewise, bathe your pooch often while you are trying to sell your home.   Look closely around your home; you may need to take a lint roller to your furniture to remove pet hair.  You might need to dust more often.
Another consideration for pet owners when selling a home is to make sure they are not out and about during a showing.  Not only is this is for the safety of your pets, but also for the comfort of your potential buyer.  If at all possible, the ideal situation would be to not have any pets home during a showing.
CLOSING THE DEAL
Selling a home can take time, but a little effort can go a long way to getting your home sold.   As you wait for that potential buyer to make an offer, relax and enjoy the work you have put into your home to get it ready for the market.  The right buyer will come along, soon enough.

Five Mobile Home Myths You Still Believe

new mobile homes, mobile homes for sale, new manufactured homes, energy efficient mobile homes, mobile home financingThe mobile home industry is riddled with myths. Some are big, some are small, but most of them are not true. We are going to debunk just a few today.

Mobile Homes Aren’t Built to High Standards

Many people think of mobile homes as they were in the 1960’s. Today, the standards are much higher, making many manufactured homes comparable to site built homes. In fact, these homes often have high end upgrades including granite counters, stainless steel appliances and more. They abide by safety standards that, in many cases, surpass those of site built homes. Not to mention they produce less waste and cost less too. These days, manufactured homes are an affordable and quality option for people who want to purchase a home. At Newby Management, we are working to upgrade some of our older homes, along with bringing in brand new homes built in 2015. This gives options to people who are looking to spend a little less, or for people who have a little extra in their budget. Either way, you’re getting a high quality home you’re sure to love.

Mobile Homes Can’t Stand Up to Bad Weather

If a tornado or hurricane rips through a town, you’re sure to hear about the damage caused to manufactured homes. Why? Because it’s an easy story, even though it doesn’t always represent the bigger picture. Mobile home safety standards are monitored by HUD, and after Hurricane Andrew in 1992, the building codes were updated to ensure that mobile homes are safe in a “run of the mill wind storm”. In areas prone to hurricane-force winds, for example Florida, the standards required that manufactured homes be resistant to winds up to 100 miles-per-hour in Wind Zone II and 110 miles-per-hour in Wind Zone III. This means that the standards for manufactured homes is actually higher than building codes for site-built homes. WeatherNotebook.org, a site produced by the Mount Washington Observatory stated:  “The truth is that tornadoes are in no physical way attracted to manufactured houses of any kind. That would be like saying that snow is attracted to mountains, or hurricanes are attracted to fish. There just happens to be a lot of trailer parks where there happens to be a lot of tornadoes. Also, there are probably a lot more mobile homes thannew 2016 manufactured homes, new manufactured homes, mobile homes for sale, mobile homes you think.”

Mobile Homes are More Prone to Fires Than Site-Built Homes

If you watch the nightly news it can surely feel like more mobile homes are burning down than any other type of single-family housing. But the truth is that manufactured homes are no more likely to catch fire than any other type of home, according to an annual report released by the Oklahoma State Fire Marshall’s office. A national fire study conducted by the Foremost Insurance Company showed that site-built homes are more than twice as likely to experience a fire compared to manufactured homes. This study stated that the number of home fires is 17 per 1,000 for site-built homes and only 8 per 1,000 for manufactured homes.

Mobile Homes Aren’t Energy Efficient Like New Site-Built Homes 

At Newby Management, we are in the process of selling and placing new 2016 manufactured homes. Builders today pride themselves on building homes of the highest quality that meet national energy efficiency standards. An example of this is our Skyline Homes models. They are a Green Building Energy Star Partner, which means that have met or exceeded the the requirements of industry government standards. They do they by using:

  • Top-Grade Insulation
  • Extensive caulking and tight construction to eliminate unwanted drafts
  • High-Performance Windows and Doors
  • Use of UL and Energy Star approved materials including low-escape air ducts
  • Additional upgrades are available to meet more rigorous EPA energy standards of a Qualified Energy Star home, including:
  • An increased amount of insulation
  • new mobile homes, mobile homes for sale, new manufactured homes, energy efficient mobile homes, mobile home financingSuper high efficient furnace
  • Programmable thermostat

This is only one example of a home builder who produces new energy efficient mobile homes. But here’s the deal, energy efficiency is a relatively new thing, and while manufactured homes a being regulated for it, site-built homes still aren’t. So the truth is, new comparable site-built homes are going to be less energy efficient than new comparable manufactured homes.

Mobile Homes are Impossible to Finance

This myth prevents so many possible homeowners from owning the home of their dreams. For new manufactured homes, some buyers are able to finance their homes through the retailers when they purchase. Today, big financing companies like Wells Fargo offer manufactured home financing.

“Expanding our balance sheet lending in this sector, combined with Wells Fargo’s existing product capabilities, provides a full-spectrum of solutions for customers in the manufactured homehttp://www.newbyrealty.com/listings/show.aspx?id=3246&p=25&loc=52&page=0 communities industry,” says Mark Myers, head of Commercial Real Estate at the bank.

Also, under the  Title I program, FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a manufactured home and/or lot. You can learn more about financing by visiting HUD’s website to see what qualifications buyers need to meet.

If you’re looking for a brand new manufactured home like the one pictured in this article, visit Newby Realty to see some of the options we have in beautiful communities across Florida.

SEE THE BRAND NEW SKYLINE PALM BAY HOME PICTURED HERE! 

 

 

Sources:

http://www.mhao.org

WeatherNotebook.org

www.skyline.com

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/title/repair

 

Fannie-Freddie Look to Provide Manufactured Home Financing

Mobile homes, mobile home financing, mobile home loans, low income financing, manufactured home financing, Fannie Mae, Freddie Mac As more buyers turn to manufactured housing, more lenders are looking into offering financing for the homes. Fannie-Mae and Freddie-Mac released draft plans that show they may soon provide financing to buyers of manufactured homes.

The proposal was outline as part of plans to help affordable housing challenges in America. Mortgage firms see these programs as a way to help low-income buyers become home owners.

While many see this a progress in the affordable housing crisis, some are concerned about the risks involved with mobile home lending. The concerns include the homes sitting on leased land and their tendency to depreciate quickly.

Those fears, while valid, are no longer true for many manufactured home owners. This is especially true of those purchasing new manufactured homes. These homes are comparable in quality and pricing to similar site-built homes and offer similar value as well.

The U.S.-controlled companies need to get sign-off for the pilot programs from their regulator, the Federal Housing Finance Agency.

Learn more about this proposal and the affordable housing challenges.