On-Frame Modular Homes

[Harry]

Hi

On-Frame Modular Homes:

- Seem to be gaining popularity in my area.
- Can be confused with Manufactured Homes.
- Generally they look like a DW and are built on the same chassis as a Manufactured Home....on the same assemble lines.
- Yep .... on I-beams.
- Sometimes the I-beams are removed on site sometimes not.
- They have no HUD label. They do pass local building codes…..of course.
- They tend to be plain.
- They can be less expensive than custom modular homes.

Any opinions and experiences with On-Frame modular homes?

Thanks

Harry

[Yanita]

Hey Harry,

Thanks for the updated info on Modulars. Do you happen to have a link for any?

Yanita

[Harry]

Hi

Here is an article:

http://www.showcasecustomhomes.com/abou ... shopperid=

Here's post from Palm Harbor VP Wayne Donnelley (scroll down)

http://mfdhousing.com/phorum5/read.php? ... #msg-75791

Here's another

http://www.aclassichome.net/

Scotbilt has them too.

Got to run to the movie...check back soon.

Harry

[ncsu]

I am a loan officer at a bank. For the difference in price of an on frame vs. an off-frame modular, get a off-frame modular. However, I have financed homes for Palm Harbor and do not trust them! They will sell unexpecting home owners and on-frame and try to pass it as an off frame. If your lender and appraiser aren't doing their job, you might not realize it either.

Lastly, stay away from the Palm Harbor dealer in Greensboro. I can't speak for others, but watch out for the one in G-boro.

[Harry]

Hi

Are you the same NCSU that couldn't find the hot water heater in your repoed home?

Did you ever find it?

Harry

[ncsu]

Yes, but I probably won't go by there until Sat. I'll let you know once I get to throughly look for it.

[Harry]

Hi

10-4

What terms are you giving now on manufactured homes with excellent credit?

Thanks

Harry

[ncsu]

I'd have to check with the home loan lender in my office to be 100% sure. I'm a commercial loan officer, so I don't handle these types of loans any longer. So much has changed in the last 12 months, I'm afraid I might mislead you. The last thing I heard was we could still go 30 years on NEW manufactured homes and I beleive 100% financing is still available.

[Harry]

Hi

10-4

I can get a 6% 30 year fixed here and maybe better if I shopped.

Are you busy these days loaning out all that TARP money?

Harry

[ncsu]

Actually, I work for a bank that is pretty conservative. We are in great shape and have not received the first dime from the bailout $.