Mortgage Rates

Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
I've seen some really good and excellent quality pre-fab. It may be a function of the building codes and/or climate for which these were built, or maybe I just got lucky with the ones I saw.

I remember having a hard time when we looked at (stick-built) houses in NC and not seeing what I *knew* should have been in them. Northern and southern houses are definitely different, and I only had experience with northern houses back then.
 

Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
It's harder to find a lender for manufactured housing.
If by manufactured housing you mean a trailer/mobile home, I agree. It's because they're like cars in that they depreciate in value a large percentage as soon as they're taken off the lot.

Prefab housing, it depends on the area and quality, and if the pre-fab company has a good relationship with one or more lenders.
 

RobinB

Well-Known Member
If by manufactured housing you mean a trailer/mobile home, I agree. It's because they're like cars in that they depreciate in value a large percentage as soon as they're taken off the lot.

Prefab housing, it depends on the area and quality, and if the pre-fab company has a good relationship with one or more lenders.

The terms are used differently sometimes. Manufactured typically is titled like an auto and has to be transformed to real property before we can lend on it. If by prefab you mean modular, then we treat those just like stick-built.
 

DWB

Well-Known Member
Those were great times for those who had cash in the banks. Even at 10% interest you double your money every 10 years. My first home loan was in 1987 at 9% for 30 years. In the late 90's I refinanced at 6% for 15 years, lowered my payment, got some cash, and went from 20 years remaining to 15. What a deal.
 

AWillow

Peace that passes all understanding.
Those were great times for those who had cash in the banks. Even at 10% interest you double your money every 10 years. My first home loan was in 1987 at 9% for 30 years. In the late 90's I refinanced at 6% for 15 years, lowered my payment, got some cash, and went from 20 years remaining to 15. What a deal.
With Wells Fargo as my bank a joke and laugh when I see 20 cents interest it’s like G thanks-
 
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