There are many differences in manufactured homes. I refer to
pre-fabricated or assembled in a factory after 1976 when building codes became
clear in this industry.
There is a housing crisis in many areas of the United
States. The cost to purchase a single-family home has skyrocketed in areas
where highly paid employment combines with attractive lifestyle conditions.
Buying a home today in California is nearly impossible to even a family with
multiple income earners.
Americans need affordable alternatives to buying a stick
built house or living in crowded condominiums. Home ownership is a known
foundation for the stability of our economy and cultural structure.
The MHINCC (national Counsel) encourages standards for the
many manufactured home builders in the United States. HUD needs to review the
standards and clarify what installation systems are safe in certain locations
and what insulation and construction rules provide a structure which is wind,
seismic and moisture safe.
Mortgage lending for manufactured is far too restrictive. It
is unclear to urban lenders exactly what foundation (auger, pier, post, block,
poured concrete…) is appropriate for the situation and available for sale to
our government.
Many lenders do not loan on manufactured homes as it is
considered complex, higher risk and lower loan amounts which border on
HIGH-COST LOANS risky. Some lenders have a special department that reviews the
plans, specs, permits, tax rolls and installation of a new unit on land. There
are 20-year loans available to be sold, but the additional time and risk to
Underwrite and sell these loan types make few want to enter the ocean.
Perhaps HUD also under this same department umbrella the
retrofitting of containers and other alternative construction methods which are
being employed to avoid the high cost of housing.
