Mortgages are available to qualified buyers to finance up to 100% of their total project cost.
If you are buying the home and the land together, or plan to place the home on land you already own, most financial institutions offer traditional real estate mortgages with similar interest rates. Some homes may be financed separately from the property they are placed on, through a personal property installment loan.
FHA-insured and Department of Veterans Affairs-guaranteed, called FHA and VA, loans are available to manufactured home buyers. These types of loans may offer lower interest rates or lower down payment requirements. They require more paperwork during the credit application and approval process and, therefore, may take longer for approval than a conventional loan.
Ask Shipshewana Homes for more information on the financing options available to you.
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