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Q: What is the
difference between a mobile, manufactured, and modular home?
A: A mobile home is
a manufactured home that has wheels and axles.
It has a VIN number and can be moved from location to location.
A manufactured home is a home built off-site in one,
two, or three pieces, is transported to the site, assembled, placed on a
permanent foundation, and connected to utilities.
It has a VIN number and it not easily transported to another
location.
A modular home is built offsite using many different
prefabricated pieces, is transported to the site, assembled at the site on a
permanent foundation, connected to utilities, and the finish work is
completed. It does not have a
VIN number, and is not designed to be moved.
Modular homes are almost indistinguishable from stick-built homes.
Manufactured housing is more difficult to obtain
mortgage financing for than modular or stick-built homes. Manufactured and modular homes can not be financed with some
sub-prime mortgage loan programs.
Mortgage Trust Group, Inc. has many programs for both
manufactured and modular homes.
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