Mobile Home Park Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago on . Most recent reply
CrossMod homes by Clayton
Does anyone have any experience with these CrossMod homes by Clayton? We have been putting entry level manufactured homes on our single lots. But we acquired a nicer waterfront lot and were looking into these as an option. Our dealer said they are supposed to finance and appraise similar to a stick build home. Any thoughts? Thanks!
Most Popular Reply
Lisa, correct that these are HUD code manufactured homes, but they are designed to appear like stick built IRC homes. Permanent foundation, attached garage, paved driveway and connecting walkway, pitched roof, etc. But the appraiser is still going to check the "manufactured" box so I imagine the value will be somewhere between an IRC house and a traditional manufactured.
The MH Advantage Fannie mortgage is the new program designed specifically for these, and it is pretty attractive... 3% down.
If buyers (or renters) can get over the "manufactured" label and are willing to pay a price that's at least approaching a stick built or modular home, this could be an attractive product. Please let me know if you hear from any other appraisers or if you come across any comps.