From Our Communities to Yours: Find Some Fun at Our Upcoming Events.

From Our Communities to Yours: Find Some Fun at Our Upcoming Events.

We’ve recently been celebrating our new Sunny Acres Sales Center as well as the 30-lot expansion of our Whispering Pines 55+ Community, both in Somerset, PA. We sent some of our team out to spread the word at the 2019 Somerset Megashow last weekend, an annual Home, Garden & Business Expo that brings out hundreds of vendors and local businesses for a two-day event.

Our sales managers had a great time participating with local businesses from car dealers, to farmers, to clothiers and non-profits. Visitors to the UMH booth were treated to raffle giveaways, with prizes including grill kits, wireless headphones, and other gadgets.

It’s always a treat when we get to participate in these events with our residents and their larger community. We might have an event this year near you. Here’s a list of just some of the events that UMH will be sponsoring and vending at near our communities & sales centers. Come out and see us if you can!

Event:Wayne County Home and Garden Show

When: April 27th-28th

Join ourMelrose Village, Melrose West, Auburn Estates, Little Chippewa, Evergreen Estates communities at the Wayne County Home and Garden show in April, and tour one of our beautiful 3 bed, 2 bath model homes on site.

 

Event: Nappanee Parks & Rec Summer Kickoff

When: May, 2019

Residents of The Meadows in Nappanee, IN can join us at this annual event with food vendors, free games, giveaways, live music and more!

 

Event: Open House Redbud Sales Center

When: May 18th, 11am – 4pm

Join us for an open house at our Redbud Sales Center in Anderson, IN. You’ll get a chance to experience some of our newest model homes in person, and enjoy food, games, music, raffle giveaways, and fun for the whole family.

 

Event: Second Annual UMH Properties, Inc. Independence Bowl

When: June 29, 2019 at 7:30 pm

UMH will be bringing a home to the annual alumni football game in Akron, Ohio! Join us to see Akron Springfield vs Canal Fulton Northwest at Dr. Martin Smilek Stadium to tour our home & enjoy the game.

 

Event: Elkhart County Fair

When: July, 2019

Residents turn out from all over our Indiana communities to enjoy this huge annual event, with food, concerts, entertainment and fun! If you live in Oak Ridge, Forest Creek,Broadmore, Holiday Village, Broadwalk, Parke Place, Highland Estates, Twin Pines, or The Meadows – come see us.

 

Event: Open Space Pace

When: 14th September, 2019

Woodlawn Village and Southwind Village residents are near to this event hosted by UMH CEO Sam Landy’s charity at Freehold Raceway in Freehold, NJ. Stop by our booth & enjoy the day’s events: a parade, horse races, local entertainment, food vendors and more!

We hope to see you at an event this year. And, if you’re ready to find a home amongst the beautiful, green landscape of Somerset, PA, our Whispering Pines 55+ Community is currently offering 3 months of free lot rent to new residents who purchase a new home before May 31st. Learn more about this community, this offer and find their contact info .

Apartments Vs Manufactured Homes

Why would you rent another apartment, when you could live in a brand new manufactured home?

If you’re looking to move, then you’ve probably chosen what type of housing you’ll end up in. Will it be an apartment, a townhome? A stick-built residence, a condo? This decision usually comes down to what you can afford in your area. Apartment living is definitely the most well known affordable housing option, with over 50 million Americans renting apartments (nmhc.org). But there are more affordable, more spacious alternatives.

20 million Americans live in manufactured homes (US census), with more and more making the move each year. They’re in the minority compared to apartment dwellers, but we think they know something that other people don’t. If you’re on the market for a new place to live, and you’re considering renting an apartment, read on to understand why so many Americans are making the switch from apartments to manufactured homes.

Finances

When you pay rent to live in an apartment each month, you’re putting money towards something that you don’t own. Renting seems like the most affordable option at first, but how much of your money are you giving away? When you pay rent, you’ll never see that money again.

But did you know you could purchase a 3 bedroom, 2 bathroom manufactured home for a similar cost of renting a one-bedroom apartment? Plus, you can build equity on those monthly payments, without the huge expenses associated with buying a stick-built home. When you buy a manufactured home in a land-lease community, you own the home you live in: which means if you ever want to sell it, you can see some money back from those payments you make every month.

Plus, buying or renting manufactured homes are often as affordable or more affordable than renting apartments in certain areas. So even if you’re not ready to buy a manufactured home, you can save money by renting a manufactured home in a land-lease community, instead of renting a unit in an apartment.

Freedom & Choice

When your home is your own, you can do what you want with it! In most apartments, you’ll be limited when it comes to personalizing your space: no painting the walls or replacing the hardware. Dream on if you’re not crazy about the kitchen in your apartment, because those cabinets and countertops are there to stay.

When you buy a manufactured home, you’re free to customize the home’s interior however you’d like before you even move in. Many land-lease communities have lots available for brand new, made-to-order manufactured homes, which means you can design the home to look just how you want it to.

Speaking of freedom, remember the person who lived in the apartment next to you who always complained about noise? When you’re not sharing walls, you’re free to do what you want, when you want: crank up the volume on your TV, have guests over late, or even play your drum kit in the early hours before work… There’s no one on the other side of the wall to hear you.

Privacy

Which brings us to: privacy. When your property is truly your own, that privacy goes both ways. Not only will your neighbors not have to hear what you’re up to, but also you won’t have to hear them. No more upstairs neighbor doing burpees and jumping jacks while you’re trying to relax.

Not to mention, at an apartment complex, outside amenities are shared fully amongst residents. If you’re lucky enough to have a balcony, chances are it’s immediately next to, above, or below someone else’s. When you own or rent a manufactured home in a land-lease community, you’ll have a lot all to yourself: so get outside and enjoy your yard without having to cross paths with the neighbors unless they’re invited.

Parking

If you’ve ever lived in an apartment or duplex without enough dedicated parking spaces, you’re probably all too familiar with how frustrating that can be. Let’s face it: street parking is never ideal. Your car is at risk of getting dinged up on the street, and there’s always a chance you’ll end up having to walk a block or two (or more) just to get to your home from your car.

At a land-lease community, you’ll have your own driveway, which means you’ll always have spots for you and your guests.

Space

And all that extra space isn’t just for your car. In many cases, your options for manufactured housing will be more affordable and more spacious, especially in urban areas where apartments tend to be tinier and more expensive. Most new manufactured homes come with laundry rooms, walk-in closets, 3 bedrooms, 2 bathrooms, and open floor plans that give you and your cohabitants space to breathe. Storage is no issue, with plenty of cabinet and closet space inside of the home. Plus, outside most homes come with storage sheds for your tools, bikes and lawn furniture.

Don’t need 3 bedrooms, or a home office? There are smaller manufactured homes available too, but seriously, consider the possibilities of an extra room. It’s a space where your dreams can live. Take up crafting in it. Lay down a mat and throw in some affordable exercise equipment for a home gym. Make it a game room for the kids so their toy mess no longer lives in the living room, or stock it with a bar and a mini fridge for the adults. The possibilities are endless.

Community Amenities

“But what about my amenities?” You might say. Nicer apartment complexes sometimes come with fitness centers, recreation areas, a pool, on-site maintenance or clubhouses, and we can understand how those can be hard to give up. The good news is that many manufactured home land-lease communities have those amenities, too.

And aside from just having the impersonal addition of a shared gym or a basketball court, living in a land-lease situation often fosters a strong sense of community amongst residents. Enjoy the perks of living in a neighborhood with regular events like move nights, summer lunch programs for the kids and holiday get-togethers.

What’s more, at every UMH community, UMH understands the importance of investing back in its residents. Our communities set aside budget each year for community upgrades and additions, because we know that our neighborhoods are stronger when we grow and build something together.

Quality

Some apartments are modern, new and updated! Usually, those are the expensive ones. Chances are if you’re renting an affordable apartment, it came with a history of countless previous tenants. Many apartments have outdated appliances and fixtures, or worse, old carpet.

If you could have an updated, never-before-lived-in home for the same cost or less, why wouldn’t you? Imagine waking up in the morning and picking out your clothes in your huge walk-in closet, coming home after work and walking across your shiny wood laminate floors, cooking dinner with your brand new energy-certified kitchen appliances, and taking a soak in your porcelain-white garden tub. Everything looks new, smells new, feels new.

Like home manufacturer Clayton says in their video, with your “beautiful, affordable slice of the world to call your own,” you could truly have it made.

Live Without Compromise

It’s time to ditch the shared walls for green grass and privacy. You can have the lifestyle and the home that you’ve dreamt of, without taking on the burden of an expensive land purchase.

To start designing your picture-perfect dream home, visit UMHSalesCenter.com, and find a land-lease community near you with UMH’s community finder. It’s time to create a home to call your own: one with more space, more privacy, and more amenities than the apartment options you’ve been considering.

Manufactured Homes: The Affordable Housing Solution

?Manufactured homes are the perfect solution to America’s affordable housing crisis. Here’s why.

For years, America has been in an affordable housing crisis. With home prices rising, more Americans are either moving in with family members or trapped in an expensive renting cycle. Those who can afford to own their own home often settle for smaller, more expensive homes that are sometimes farther away from work.

In 2016, the U.S. Census Bureau reported that the rate of U.S. home ownership declined by 62.9% – which is the sharpest reported decline since the figure first started tracking in 1965. And renters don’t fare any better. According to a report from Harvard’s Joint Center for Housing Studies in 2013, nearly half of all renters can’t afford their rent.

The nuts and bolts of the affordable housing issue are complex, though many economists will say it comes down to high demand for homes with low supply. Construction rates cannot keep up with the need, and there are not enough laws that provide pricing protection for low- and middle-income Americans.

This is where manufactured homes come in as the most viable solution. Manufactured homes are constructed more efficiently, more affordably, and far more quickly than their stick-built counterparts. This alone should make manufactured housing an easy answer to the short supply of livable homes in America.

And yet, despite that fact that these affordable housing solutions are structurally safe, attractive and produced with all of the same materials as stick-built homes, manufactured housing still faces an unjustified stigma in America. The truth is, common myths about manufactured housing just don’t hold up against the elegance and integrity of their modern designs.

So, how exactly are these homes the answer to such a pervasive and long-held problem in America? Let’s explore.

Manufactured homes are constructed quickly.

Prefabricated homes differ from site-built homes due to the way they are constructed. Manufactured homes are constructed in off-site, climate-controlled factories, through processes that have been refined and streamlined.

Not only does this allow for construction to continue independently of unexpected weather events, it also requires less labor, less time, and less energy use.

All said and done, a prefabricated home can be built and ready to ship in just weeks, with simpler designs taking only days. By comparison, homes constructed on-site can take anywhere from three to nine months, and that’s without significant interruptions. Manufactured housing’s quick and efficient build process goes a long way in ensuring the supply is there to meet the demand for affordable homes.

Manufactured homes are constructed with less upfront cost.

It’s well understood that on-site construction activities can be costly, wasteful, and inefficient. Building homes in factories circumvents these problems by reducing wasted materials and making efficient use of machinery to use the minimal amount of energy and manpower.

Manufactured home factories purchase materials in bulk. The materials can then be stored indoors, protected from the elements until they are used. And since they order the exact sized materials every time, there’s almost never any waste. In the event that there are any excess materials, those too can be saved and repurposed for custom home builds.

Labor costs are also lower compared to site-built homes, due to the fact that manufactured homes take much less time to create.

All of these factors mean lower upfront building costs, which ultimately translate to large savings for the homebuyer. According to the Manufactured Housing Institute’s 2018 Industry Overview, manufactured homes cost $58/square foot less than the average site built home.

Manufactured homes are affordable and quickly available.

Due to the cost-saving and efficient building process, manufactured homes can be constructed with all of the same quality materials as site-built homes, and still be sold at a fraction of the cost.

According to the United States Census Bureau, manufactured homes account for 70% of new homes in the United States that cost less than $150,000. Clayton

This means that the large majority of homes in America that are affordable to low- and middle-income Americans are manufactured homes. Yet, while the volume of manufactured homes produced has increased year over year for the last decade, they still only house less than 10% of the United States population.

Fortunately, this can change quickly. Because of the ability for quick construction, custom-built manufactured homes can be available to the consumer in as little as six weeks. As long as there is available land, there can be available homes.

Let’s not forget also that the affordability of a home extends beyond its sticker price. Whether you are renting or buying, there are other factors that contribute to the overall cost of living. The hidden savings of manufactured homes lie in their efficiency. Many modern manufactured homes come Energy Star certified. This means they come with highly effective insulation, tightly constructed ducts and advanced window coatings to lower heating and cooling costs. The homes also come with Energy Star certified kitchen and bathroom appliances to lower electricity usage.

All in all, there is a tremendous solution to the affordable housing crisis in manufactured housing as more people embrace the safety, beauty and livability of these affordable homes.

Community living makes manufactured homes even more affordable.

Manufactured homes still need a place to live, and the cost of land in many metropolitan areas can be quite high. Land-lease communities exist as a solution to this problem. Within communities like UMH’s manufactured home communities, people can own their home as an asset while renting the land it lives on.

This makes homeownership even more accessible. Individuals purchasing homes in land-lease communities don’t have to pay for land, and they don’t have to pay to place the home. UMH’s team lends their expertise and can place the home more quickly and more efficiently.

And for those who do not have a down payment or who have no interest in purchasing a home, many UMH manufactured home communities offer affordable rental units.

To find out more about UMH’s manufactured home communities, or to find a community near you, check out our community finder tool and start planning your journey to homeownership, today.

The Manufactured Home Buyers Guide

The Manufactured Home Buyers Guide

Buying a manufactured home? This guide includes all you need to know about home buying – including financing, manufactured home loans, comparisons and features, buying new vs. used, placing your manufactured home, designing a manufactured home and more.

Should you buy a manufactured home?

If you’re here, it means you’re probably taking steps towards buying a new home. Congratulations! There are few things more rewarding than owning your own home.

If you’re considering a manufactured home as an option, you’re probably wondering how they stack up against other home types. So, first thing’s first.

What is a manufactured home?

Some people think of “mobile homes” when they think of manufactured homes. However, mobile homes are actually older, lower quality and under-regulated. In 1976, manufactured homes become HUD-approved, which means that they must be built with the same standard quality as stick-built homes. In 1980, the Housing Act ruled that “mobile homes” should be referred to as “manufactured homes” for structures built after 1976. Nowadays, manufactured homes often even exceed the quality standards and dependability of older stick-built houses!

Manufactured homes are constructed off-site in climate-controlled facilities and moved to location once completed. From the inside, most people wouldn’t be able to tell the difference between a manufactured home and a stick-built hose. From the outside, they do have some notable features:

  • Most manufactured homes have vertical paneling along the bottom, called a “skirt.” That’s where the crawl space of the home is.
  • They are long and rectangular in shape, so that they can be easily transported on the highway.
  • Many manufactured homes have porches, and even carports or garages.
  • They come in two standard sizes: Single-section and multi-section.

 

 

 

Other home types

Modular houses

Modular homes, like manufactured homes, are built in factories or off-site facilities. Unlike manufactured homes, they are usually larger and designed to look like stick-built homes. are built on permanent foundations like a basement or a crawl space, and comprised of many modules assembled on top of it. The possible configurations are limitless! Modular home builds can be very impressive, but they generally come at a higher price point than a manufactured home.

Stick-built houses

Stick-built houses are probably what you think of, when you think of a house. They are built on-site, and as such can be subject to weather and climate conditions during the construction process.

Tiny homes

A tiny house is precisely what it sounds like. Ranging from 100-400 square feet, a tiny house is built to be minimalist and down to the essentials. For people who desire a simpler life, an efficient space, and a good reason to downsize their belongings, tiny homes are a trend that’s catching on. How do manufactured homes compare to other home types?

Here are some of the factors that a potential homebuyer should consider: Cost, square footage, lot placement, customization, and energy efficiency. Let’s explore how manufactured homes stack up against other build types.

Cost

Tiny Home: $23,000 (source: realtor.org)

Manufactured Home: $69,000 (source: census.gov)

Stick-Built Home: $269,000 (source: census.gov)

Modular Home: $211,638 (source: modularhomeowners.com)

Price is a key factor in the accessibility of home ownership for many Americans. The average listing price of a manufactured home is less than one quarter the average cost of a stick-built house, and closely comparable to a modular home as well. Tiny homes rank #1 in affordability, unless of course you’re looking at price per square foot. They come with their own caveats, as we’ll see below.

Size

The sticker price of a home is one thing, but what about cost per square foot? Tiny homes are a romantic idea for many, but the minimal living space might not work out very well for growing families, or elderly homebuyers who aren’t willing to climb a ladder to their bed every night. That’s where the size of your home factors in.

Tiny Home: 100-400 sq. ft.

Manufactured Home: 850-1,600 sq. ft.

Stick-built Home: 1,400-2,399 sq. ft. (source: houseplans.com)

Modular Home: 1,600 sq. ft and up

With tiny homes, you are locked in to a restrictive size for easy mobility. Manufactured homes must be a built to lengths and widths that are legal for highway transportation, but unlike tiny homes, can be assembled as a multi-section home for more space. Stick-built and modular homes, of course, vary from quite small to Beverly Hills-level large! But due to more restrictive and expensive building costs, both stick-built and modular homes will have a higher price per square foot, meaning of all four options, manufactured homes offer the most bang for your buck.

 

Manufactured Home Kitchen - Modern Home Manufactured Bedroom Manufactured Home Modern Bathroom - Glass door - Stand up shower

Lot Placement

Your home is where you will live – but where will your home live? For people who have never bought a home with mobility before, this might not be something they immediately think of. Obviously, for stick-built homes, this is not an issue, but what about the rest of them? Modular homes require a foundation, and as such, people who purchase modular homes almost always own the land they place them on. Once they are assembled, they cannot be moved, so for this category, they are again comparable to site-built. And what about the tiny home? In many places, it’s hard to live in a tiny house legally. Building codes, local zoning laws and county ordinances all must factor into tiny house planning. Alternative forms of affordable housing tend to address this issue better than their tiny counterparts. Manufactured home builders follow federal Housing and Urban Development codes, so they can often be placed anywhere that is zoned for a stick-built home (though this varies by county ordinances). Plus, many buyers have the luxury of placing their new home in a community that has already been zoned accordingly. That means not having to sort out your own plumbing, electricity, and water hook-up which is something I think most of us could do without!

Customization

Everyone loves a good “demo day” on HGTV (short for demolition), but in reality, home renovations are a notorious nightmare. For older stick-built homes, the plumbing, electrical wiring and other materials hiding behind your walls are a mystery and potential hazard that can limit your modifications. Brand new stick builds are costly and timely. Modular homes can be very customizable; modularity introduces near infinite possibility! Many modular home builders have pre-spun floor plans that can be customized to your home lot and design desires. Tiny homes, while known for their craftsman character, do have limitations on customization. Because the space is so small, most features need a dual purpose. For example, a couch with hidden storage, or a table that folds up when not in use. The need for extreme functionality sometimes comes at the cost of personal style. Not only are manufactured homes the easiest to customize if you’re buying new, but manufactured home customizations have also blossomed over the years. A far cry from the cookie-cutter pre-fabs of decades ago, most manufactured home builders offer a wide range of customizations. From cabinets to floor plans to appliances, the growing options give buyers the opportunity to design the home of their dreams. Also, all of the components put in manufactured homes today, are the same materials used on site-built homes. If you need to do a repair, you can use any product you find at Lowe’s or Home Depot in your manufactured home.

Energy Efficiency

If energy efficiency is what you’re after, the average tiny home might win out. But for years manufactured homes have been designed with energy efficiency in mind. They are the original “green living” home, and are still far more efficient than your average stick-built or modular home. Many manufactured home builders are Energy Star Certified, which means their homes are designed to meet the EPA’s strict guidelines for energy efficiency. This includes standards for effective insulation, high-performance windows, tight construction ducts and appliances and heating/cooling systems that use less energy. So while the tiny house movement tightly couples with less consumption and the “off-grid” lifestyle, manufactured homes are designed to maximize efficiency without sacrificing comfort and amenities.

So what’s the verdict?

Ultimately, the choice comes down to your budget, lifestyle and home aspirations. But for homebuyers looking for an affordable, reliable home, manufactured homes are a great choice! Read on to learn more about the logistics and decisions involved in buying your first manufactured home.

Buying Used vs. Buying New

Of course, the most important thing for new homebuyers is the quality of their home. A lot of this can depend upon the age and history of the home. Unlike site-built homes, manufactured homes depreciate in value over time. Used manufactured homes for sale will often be less expensive than new ones, but new ones will often be easier to secure a loan for. So which is the better option?

Buying Used

If you plan on buying a used manufactured home, there are some things you should know. For starters, any manufactured home built before 1976 will not have been held to HUD regulations, and should always be considered a risk. And not all used manufactured homes can be moved, so if your plan includes placing the home on a different lot, be sure to verify that this is possible. Homes that have been extensively renovated or placed on foundations may be permanently fixed to the land they reside on. And of course, as with anything previously owned, be sure to adequately inspect a used manufactured home before purchase. Looking for signs of water damage, deterioration and assessing regular wear and tear before you buy will help mitigate any surprises! If it all checks out, a previously owned manufactured house can make a wonderful new home.

Buying New

Buying new is appealing for many reasons. For one thing, buying a new manufactured home through most manufacturers means you can customize it to your liking: cabinetry, appliances, flooring and more! And while a new home will surely be more expensive than a used one with the same specifications, there are some financial incentives. Loans may be easier to secure, and most new manufactured homes come with warranties.

Financing a Manufactured Home?

So, you’ve looked at manufactured homes for sale, found your dream home, and now you’re wondering how to finance it. Whether you’re a first-time homebuyer or have purchased a home before, the process of home financing for manufactured homes is unique and usually leaves people with a lot of questions. Like: What credit score do I need to buy a manufactured home? Is getting a mortgage for a manufactured home different than a mortgage for a new stick-built house? Or, Do manufactured homes come with warranties? In this section, we’ll share our home-buying expertise with you and help answer some of these questions, so you can finance your manufactured home worry-free.

Click Here to Read More of our Blog Post on Financing A Manufactured Home to answer all of your quesions including:

  • Loans for Manufactured Homes
  • Warranties on Manufactured Homes
  • and more!
Placing your manufactured home
 
We touched briefly on lot placement for manufactured homes earlier in this article. Now, let’s get into more detail.
 
When it comes to finding a place to put your manufactured home, it really comes down to two main choices: you can place it on land that you own, or you can place it on rented land within a land-lease community. For either option, there are three things to consider: legality, cost, and logistics.
 
Legality
Before you purchase that perfect land parcel, there are some boxes that need to be checked! 
 
Zoning laws for residential housing apply to manufactured homes as well as stick-built. It’s crucial that you ensure with your county or municipality that the zoning and land use laws on your property allow for the placement of a manufactured or modular home. In the case of older manufactured homes and mobile homes, due to modern building requirements, it is possible that your home may not be legally placed on land in certain municipalities, even if it’s zoned for residential housing.
 
If you would like to place a manufactured home on owned land, make an appointment to discuss your plans with a zoning administrator in your county before you make any purchasing decisions. 
 
Logistics
Although your home has been pre-fabricated in a factory, there are still some installations that can only be completed on-site: namely, power, foundation & plumbing.
 
Just because your land is zoned appropriately doesn’t necessarily mean it will support a septic system. Having land that meets the legal and structural requirements for a septic system is critical. For something like this, it is best to have a licensed professional do their due diligence. 
 
And unless you’re planning on going “off-grid,” water and electricity need to be hooked up. Get bids from contractors who can hook up to existing infrastructure; or, if there is none, have your land surveyed to see if it’s suitable for a well or city water.
 
Cost
Cost is a huge factor to assess when considering where to place your manufactured home. The upfront investment for buying your own land can pay off in the long run, but much of the process in the short term can be costly, difficult and time consuming.
 
Land-lease communities provide a place for your home to live, usually for a small monthly rental fee. And while you’ll never own the land that you’re home lives on, each home is placed in a beautiful community. Plus, all of UMH’s land-lease communities take care of all of the aforementioned legality & logistics for you, which gives this option huge appeal. All you need to do is collect your keys when it’s time to move in!
 
Whether you decide to take the long route to land ownership, or settle for the security & savvy of a land-lease manufactured home community, placing your home is a huge accomplishment. Once you’ve made it this far, relish the rewards. Move in, get comfortable, throw a party, do some landscaping and enjoy homeownership in all its glory!
 

How to Finance A Manufactured Home

So, you’re wondering how to finance a manufactured home. Whether you’re a first-time homebuyer or have purchased a home before, the process of home financing for manufactured homes is unique and usually leaves people with a lot of questions. Like: What credit score do I need to buy a manufactured home? Is getting a mortgage for a manufactured home different than a mortgage for a new stick-built house? Or, Do manufactured homes come with warranties?

In this post, we’ll share our home-buying expertise with you and help answer some of these questions, so you can finance your manufactured home worry-free.

 

Loans for Manufactured Homes

The process of accruing loans for manufactured homes is somewhat different from the process for stick-built homes.

For example, while you may be able to find financing through a credit union or even through the retailer, financing through a private standard home lender can be hard to find for a new manufactured home. Then there’s the issue of land: Will you need your mortgage to cover the cost of land, or will you be leasing the lot your home is placed on? Lastly, the year your home was built can determine whether it qualifies for certain loan types, so buying new vs. used will be a big deciding factor for many lenders.

Lenders

If you are buying a manufactured home that has a permanent foundation as well as the land it’s installed on, you can secure financing from retailers, government-back loans, or even lenders that specialize in manufactured home financing.

Specialized manufactured home lenders will often be your best bet due to their expertise, and they may be certified brokers of government-backed loans like the FHA.

Loan types

If you’re only financing your home and not the land, looking into personal property chattel loans might be your best option. This loan requires a minimum of at least five percent of the home’s value as a down payment. Loan terms for a manufactured home range from a minimum of 15 years to a maximum of 25 years.

FHA loans are government-backed loans that can make borrowing for manufactured homes more affordable, as long as you meet the criteria:

  • The home must be not have been built before June 15, 1976.
  • The home must be HUD Code compliant. This is more likely if the home has had little modifications.
  • Each home section must have the HUD label attached to it. (E.g., one label for singlewide homes, two labels for doublewide homes, etc.)
  • The home must be on privately owned land.

If you qualify, FHA loans have a requirement of at least 3.5% down with a 30-year term, and they also offer low rates. In addition, if you are also purchasing land, both the land and the home can be financed together in one loan.

The type of loan you choose can vary depending on your current situation. Personal property loans, like the chattel loan, may be right for you if you want to finance a manufactured home without property. This would work for most homes in UMH’s land-lease communities, but you may want to secure a substantial down payment for a better interest rate. On the other hand, conventional and FHA loans cover both the land and the home, and have flexible terms that accommodate a variety of manufactured home buying situations.

UMH works with the industry leaders in manufactured home lending, in an effort to help clients secure competitive rates and terms.

To calculate what your monthly payments may look like, take a look at UMH’s home loan calculator.

UMH also offers lease-to-own programs in some of our communities. Our Lease with Option to Purchase Program is an option for those who, for one reason or another, may not be equipped to buy just yet, but would still like to build equity towards their future home purchase.

If you are having trouble searching for an appropriate loan, feel free to contact our team of licensed loan professionals today to see what options may be available for you: wecanhelp@umh.com.

 

Can I get a loan for a manufactured home with poor credit?

It’s no secret that some lenders may be unwilling to work with you if your credit score is low. Other lenders may set prices according to risk, meaning that if a borrower is risky, they may have to pay a higher interest rate or a larger down payment to make the terms appealing to the lender.

FHA loan brokers may be more forgiving than private lenders: the minimum qualifying score is 500 for an FHA loan. However, if your credit score is between 500-579, you must make a 10% down payment, rather than their traditional 3.5%. It is worth noting that not all FHA lenders and brokers will approve poor-credit applicants. At the end of the day, loan approval is at the discretion of the lender.

More likely, you will need to seek out lenders who work with low-credit borrowers. In this case, expect to pay at least 20% down, and be prepared to show anything you can that makes you appear less risky, including proof of income, bank statements dating back several months, and any debt you may currently have.

If you’re considering community living but our concerned about your credit score, the UMH COP program looks at credit scores from 450 and up, and offers a low interest rate of 6.75% on new homes placed in a UMH community for 25 years.

 

Warranties on manufactured homes

It’s a well-known phenomenon for people buying older stick-built homes: whether it’s the roof, the foundation, the electrical, or something else entirely, there will probably be some repairs. Lucky for you, when buying a brand new manufactured home, this wear and tear won’t be present. And, the fact that manufactured homes are built with streamlined, time-tested scientific processes means not having to trust a contractor or builder to do the job right!

However, while it is a very small percentage of homebuyers who experience issues with their brand new manufactured homes, it can sometimes happen. That’s where warranties come in handy.

Home manufacturers, installers, retailers, third-parties or even appliance manufactures may all offer their own warranties, each of which covers a different part of the home. Some of them you may want, and some of them you may never need. So what are the best options?

Manufacturer warranties are the most appealing options, as they come directly from the manufacturer who built your home. Most manufacturers offer warranties with reasonable terms up to one year or more. To ensure you can redeem your warranty when you need to, make sure you’re aware of what claims you can make and what sort of home modifications may void your warranty.

Appliance warranties may vary, but if you are purchasing a home that came with a full appliance package – as most of UMH homes do – be sure to enquire about what warranties are available for your new kitchen appliances!

Manufactured Home Communities & Their Residents

Approximately 2-3 million households in the United States live in manufactured housing communities, according to the 2013 American Housing Survey. As the standards of manufactured housing have increased, so have the number of Americans considering manufactured housing as a high-quality, affordable option.

 

The question is, who lives in the modern manufactured home community these days, and what benefits do they enjoy from their living situation?

 

Who Lives In Manufactured Home Communities?

 

An extensive report by Foremost compiled a profile of people living in manufactured homes based on more than 26,000 interviews. Here are their findings.

 

Manufactured Housing Residents Are Younger Than You Think

Despite the pervasiveness of 55+ communities in the manufactured housing space, the largest age group reported in their surveys was actually aged 18-29, coming in at 23% of residents. This shows that many first-time homebuyers turn to manufactured homes when they’re finally ready to break free from the cycle of renting.

 

Most Manufactured Housing Residents Own Their Home

68% of survey respondents reported that they own the home they live in, as opposed to 24% who were renting and the remainder who reported living with relatives.

 

What’s more, almost half of the residents who reported owning their home said they were there to stay. 40% didn’t anticipate ever selling it.

 

The Number of Manufactured Home Residents Living in Communities is Rising.

In 2012, 39% of respondents living in manufactured homes reported living in a community, compared to 35% in 2002.

 

What Do They Get From Manufactured Home Communities?

 

By choosing to live in a manufactured home community, residents receive benefits that they otherwise wouldn’t by living on private land or in other multi-family housing, like apartments or condominiums.

 

Because the land is leased to the resident but owned by the community, first and foremost this means that a resident can enjoy the perks of homeownership – like living in privacy without wall-sharing neighbors, or being able to paint and remodel at your leisure – without having to maintain the land and utilities.

 

Many UMH manufactured home communities have perks that go above and beyond, including community pools, playgrounds, fitness centers, on-site maintenance, clubhouses and regular events for residents to mix and mingle with their neighbors.

Take a look at our community finder to find a UMH manufactured home community in your area.

 

Is Manufactured Housing Right For Me?

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Manufactured homes built in 2018 are sturdy, dependable, often energy-efficient and offer a wonderful opportunity for potential homebuyers looking for quality, affordable homes. They allow you to build equity through homeownership, without a lot of the stress, risks and hassle that comes with buying older, stick-built houses.

UMH is proud to have 20,000 homesites that 60,000 residents call home. If you want to learn more and find out why so many of our residents love living in our communities, check out https://www.umhsalescenter.com and get started today!

Tiny Houses vs Manufactured Homes

From our restaurant portions to the cars that we drive, it seems like the United States was built on the mantra that bigger is better. Which is why it’s so surprising that something many refer to as “The Tiny House Movement” could sweep the nation by storm. And yet, Instagram feeds, internet blogs and even multiple dedicated time slots on HGTV have become inundated with the tiny house craze.

So what exactly is a tiny house, and why has it become so trendy?

A tiny house is precisely what it sounds like. Ranging from 60-500 square feet, a tiny house is built to be minimalist and down to the essentials. Most tiny house aficionados join the movement for environmental and financial reasons. But manufactured homes have been here all along as a practical & ecological solution to affordable housing.

Putting a price on it

Tiny homes were born from the DIY trend. For those who are willing to build it themselves, a tiny house can be quite affordable. But depending upon the appliances and fixtures, the average tiny house typically costs between $200 and $400 per square foot.

Compared to manufactured homes, that’s less bang for your buck. The average manufactured home in 2015 cost $100.65 per square foot, making it two to four times more cost effective than its trendy counterpart.

 

The legal woes of tiny houses

Building a tiny house is one thing. But once it’s built, where do you put it?

In many places, it’s hard to live in a tiny house legally. Building codes, local zoning laws and county ordinances all must factor into tiny house planning. Alternative forms of affordable housing tend to address this issue better than their tiny counterparts.

Manufactured home builders follow federal Housing and Urban Development codes, and many buyers have the luxury of placing their new home in a community that has already been zoned accordingly. That means not having to sort out your own plumbing, which is something I think most of us could do without!

Designing your own home

No doubt, much of the tiny house appeal comes from the aesthetic. They’re trendy, craftsman and can be designed just how you like it.

However, customizations in manufactured homes have blossomed in recent years. A far cry from the cookie-cutter pre-fabs of decades ago, most manufactured home builders offer a wide range of customizations. From cabinetry to floor plans to appliances, the growing options give buyers the opportunity to design the home of their dreams.

Manufactured Homes: Going Green

If energy efficiency is what you’re after, the average tiny home might win out. But for years manufactured homes have been designed with energy efficiency in mind. They are the original “green living” home, and are still far more efficient than your average stick-built home.

Many manufactured home builders are Energy Star Certified, which means their homes are designed to meet the EPA’s strict guidelines for energy efficiency. This includes standards for effective insulation, high-performance windows, tight construction ducts and appliances and heating/cooling systems that use less energy. So while the tiny house movement tightly couples with less consumption and the “off-grid” lifestyle, manufactured homes are designed to maximize efficiency without sacrificing comfort and amenities.

For the DIY bloggers & 20-somethings fleeing the corporate life, there are tiny homes. But for hard-working Americans looking for an affordable, attractive place to call home, manufactured housing is the solution.

Overcome the 2017 Affordable Housing Gap

For more than a decade, low- and medium-income homebuyers haven’t had many options.
 
According to the National Low Income Housing Coalition (http://nlihc.org/research/gap-report) the US faces a shortage of 7.4 million affordable homes among the nation’s lowest income households. And the shortage affects residents in every state and major metropolitan area. 
 
New homes aren’t being built at the same rate as in the past, and limited inventory of single-family homes means higher prices. Additionally, rapidly rising healthcare costs worsen the situation by making it almost impossible to save enough cash for the down payment on a new home.
 
So where can potential homebuyers turn?
 
 
Manufactured Homes Put Buyers in Control of Housing Budgets
 
The news for homebuyers isn’t all bad. Innovative developers and homebuilders like UMH Properties, Inc. offer hope for this underserved segment of the population. For about the same price as renting a one-bedroom apartment, potential buyers have the option of purchasing a brand-new manufactured home in convenient, well-placed communities.
 
You really can buy a home today without taking on huge mortgage payments that squeeze the life out of your lifestyle. Starting at just $59,900, the average 3-bedroom, 2-bathroom UMH home costs about 50-60% less than site-built homes. 
 
Manufactured homes, located in attractive, amenity-rich land-lease communities, offer homeowners benefits that site-built homes don’t. Since UMH communities take advantage of a land-lease structure, they’re able to keep expenses even lower by eliminating closing costs.
 
Founded in 1968, UMH appeals to residents of all ages by offering affordable, comfortable, appealing lifestyle choices throughout the Northeast and Midwest. UMH communities can be found in Indiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, and Tennessee.
 
 
Take Action
 
For more info about an affordable brand-new 2-3 bedroom, 2-bath UMH home, please visit UMHSalesCenter.com.
Getting kids ready for the start of a new school year can be stressful, time-consuming and expensive. But that task has been made a little easier for the residents of Countryside Village in Columbia, TN. 
 
For the last six years, this UMH community of 350+ homes just outside Nashville has given away backpacks filled with school supplies to all 300 school-age kids who live there. 
 
Community Manager Sue Salisbury and her team start planning the event months ahead of time. Local vendors and contractors make donations to get the ball rolling. Then Salisbury buys high-quality backpacks in an array of sizes and colors to fit varying ages and tastes. 
 
Residents are asked to register their kids’ needs at least three weeks prior to the giveaway. As the day of the event approaches, volunteers assemble in the community center to fill the bags with the grade-appropriate supplies: crayons, pencils, scissors, etc for K-4; and pens and ruled notebooks for older students. The backpacks are labeled with each child’s name to eliminate confusion and potential bickering. 
 
And if you’re a kid, here’s the best part: Three of the backpacks, chosen at random, contain a gift card that can be exchanged for a shiny new bike! 
 
Salisbury calls the event the "Backpack Party" for good reason. It lasts the better part of a day and brings together the entire community for lunch, games and prize drawings. 
 
This program has been a boon to many single-parent and low-income families. It’s also earned accolades from school officials who credit the event with giving kids the basic tools they need to learn on day 1. “Teachers tell me that some kids show up for the first day of school with just the clothes on their back,” says Salisbury. “That puts them at a disadvantage.”
 
The Backpack Party may be the most popular community-wide celebration of the year at Countryside Village, but it’s certainly not the only one. Three separate luncheons celebrate the contributions made by the local fire fighters, police officers and sheriff’s department. 
 
Sue Salisbury and UMH are making a difference by putting their residents first.

Being the Best at What You Do

When you think of the Baseball Hall of Fame, great players like Hank Aaron and Joe DiMaggio jump to mind. The Rock and Roll Hall of Fame has honored hundreds of all-time musical greats like The Beatles, Aretha Franklin and David Bowie. 

 

But there’s another hall of fame you may not have heard of, that we proudly call our own: The RV/Manufactured Housing Hall of Fame and its newest inductee, Christine Lindsey, UMH Vice President of Sales. While not exactly a household name, ask anyone in the manufactured housing industry about Christine Lindsey’s 30+ years of service and you’ll hear accolade after accolade. 

 

Christine has made numerous contributions to UMH and the industry she loves, through hard work, care, and commitment. On the national level, Christine has served as the Chair of the Manufactured Housing Institute National Communities Council and the Manufactured Housing Institute Board of Directors. She was awarded the National Communities Person of the Year at the 2009 National Manufactured Housing Institute 19th Annual National Congress and Expo.

 

In her role as Vice President of Sales, Lindsey has been instrumental in improving customer satisfaction and brand loyalty, which have led to a remarkable 100% site increase from 2011 to 2016. Additionally, Lindsey has been a charismatic advocate for the role of manufactured housing in solving our country’s affordable housing shortage. She’s even been known to make emergency repairs to homes on occasion.

 

Christine Lindsey got her start in the manufactured housing industry as a community manager in 1979 with UMH Properties, Inc., gaining firsthand knowledge about the operations and resident relations so critical to the success of any manufactured home community. She was promoted to Tennessee Regional Manager in 1990, then to Regional Vice President in 1993, and most recently to Vice President of Sales in 2003. Christine was honored with prestigious designation of Manufactured Housing Manager – Master, January 1, 2007 by the Land-Lease Community Real Estate Asset Class.

 

Christine has always been active in the Tennessee Manufactured Housing Association, where she has been on the board of directors since 1994. She has served as State Park Director for three years and was Chapter President from 2000-2007. She was elected to the Executive Board acting as secretary in 2000. She was elected as Vice President in 2008, President from 2011-2013, and then inducted into the Tennessee Hall of Fame in August 2013.

 

“This Hall of Fame event is truly a major industry affair,” says Darryl Searer, president and COO of the RV/Manufactured Housing Hall of Fame. “It honors the inductees who have attained a major milestone in their lives and careers.