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Manufactured Home REITs Outperform the Market – Sun Communities is on track to add 1,000 homesites at 12 manufactured home communities. UMH intends to buy six manufactured home communities with about 2,200 homesites for a total of $75.5 million.
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Buying a manufactured home differs from buying a single-family home or townhome. Lenders tend to consider manufactured homes personal property, not real estate. Historically, loans for manufactured and modular homes worked more like a car loan than a mortgage, and required higher credit scores, higher down payments and higher interest rates.
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Tips on Placing a Manufactured Home on Land You Own – Placing your new manufactured home on land you own, or intend to buy, allows you a certain amount of freedom both in the location of the land itself and in the location of your home on the land. However, if you plan to place a manufactured home on private property, there are several things you need to know and consider before you can site your home.
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How To Buy A Manufactured Home And Land Together – Buying a manufactured home and land separately. Buying property and then placing a home on it will come with several extra expenses such as well installation, running power to the house location, permits, regulations, and more. While it may be easier to find land, and then buy a manufactured home to install, be aware that the setup costs can really add up.
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