Financing for manufactured homes can be through chattel loans, FHA loans, or even VA loans in some cases. Some businesses offer land and development services, bundling land purchase with modular construction. Some nonprofit groups and cooperatives offer affordable mobile home living in organized communities.
Manufactured homes offer a variety of floor plans, from one to four bedrooms, to meet family needs in Tampa. They’re eligible for traditional mortgages, making financing easier compared to manufactured homes in Tampa. Many modular home companies partner with architects, realtors, and developers to expand reach and resources.
Manufactured homes on leased land may face lower property taxes, appealing to cost-conscious buyers. Many retirees, especially in warmer states, live in mobile homes seasonally, moving between climates like Tampa. FHA and USDA loans may allow for low down payments, making these homes accessible for more buyers. Modular home businesses are expanding into commercial sectors, including schools and hospitals.
Unlike manufactured homes, modular homes can be built with multiple stories. Most lenders treat modular homes like site-built homes, enabling standard mortgage terms.
They’re eligible for traditional mortgages, making financing easier compared to manufactured homes. Some manufacturers offer land-home packages, bundling land purchase with the home for easier financing. A large percentage of affordable housing in Tampa consists of mobile and manufactured homes.