Mobile homes often carry a stigma to homebuyers in Spokane. However, after I spent some time previewing mobile homes for sale in the Spokane area for a client the past couple weeks, I found many to be in great condition and the quality to be surprising. Over the past 20 years the technology used to manufacture mobile homes has increased drastically.
After talking with several mobile home dealers in Spokane, I learned that many of the Northwest Mobiles are developed to withstand our rather unique winters [read: long, cold and lots of snow]. Flashing is increased, furnaces are beefed up an the roofs are reinforced. This is in addition to the six inch walls that are a standard in all new mobile homes.
Older mobile homes (before 1978) are harder to finance, but with the newer ones it can be done. It’s helpful to have a lender qualified to finance mobile homes help you along the way. Most banks require:
- Title to be eliminated on the home: in other words – make it real property.
- Toe-straps or hurricane ties to be installed (this will be inspected as part of the L&I inspection see next).
- L&I Inspection – any additions or modifications to the dwelling will need to be inspected and brought up to standard.
- Every underwriter is different so there may be some additoinal needs and requirements.
There are some great programs that can finance Mobile homes and Land 100%. For example, the. USDA program (although slow) can provide financing (area specific) for qualified mobile homes (Purchased from a qualified dealer), delivery and setup on bare land. This is a great program.
There are great opportunities out there for every home buyer, you can even qualify for the first time home buyer tax credit by buyign a Mobile Home!
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