Learn About Financing Manufactured Homes With Rocket’s EVP Of Capital Markets
Leaders at Rocket Mortgage announced a conventional loan option this month for people who are interested in purchasing or refinancing a manufactured home. Manufactured homes are built at indoor homebuilding facilities in accordance with the U.S. Department of Housing and Urban Development Manufactured Home Standards. They are then delivered to the land where the owner will live. A recent report from the Manufactured Housing Institute shows manufactured homes are about a third of the cost, on average, of site-built homes. The Institute also stated that 22 million Americans currently live in manufactured homes and this building type accounts for 9 percent of new home construction. Bill Banfield, EVP of Capital Markets at Rocket Mortgage, sat down for an interview with The Mortgage Note…