Manufactured Home Retailer Brings Full Service Solutions to N. San Diego County

MH Factory Homes now offers innovative comprehensive solutions for mobile home owners. Mobile home parks throughout San Diego have many aging mobile homes in desperate need of repair. Now consumers can easily upgrade their old homes with new manufactured homes.

Vista, United States - April 21, 2017 /PressCable/ —

Aging Mobile Homes are Becoming a Major Problem in Southern California. MH Factory Homes of Vista, California is expanding it’s services to offer comprehensive Financial Solutions to desperate home owners who faced with a major decision. Thousands of older mobile homes in mobile home parks from Escondido to Oceanside and throughout San Diego are reaching the end of their economic life. Owners of mobile homes built in the 1970s and early 1980s are faced with the dilemma of remodeling or replacing their old mobile home. Needed repairs for most old mobile homes are extensive and the costs are high. Compliance with modern building codes is rarely possible. The problem is compounded by California Manufactured Home Retailers who have become accustomed to high markups; pricing many mobile home owners out of the replacement home market. Further complicating the situation is lack of lender’s desire to make loans on overpriced manufactured homes.

MH Factory Homes is the product of $100 Million manufactured home loan originators that are taking a different approach to the solving the problem. Instead of determining sales price by the maximum price the market will bear, MH Factory Homes prices replacement manufactured homes based on lender wants. This innovative solution allows consumers the power to make better decisions on what is best for them.

Company founder Rory Manning says “We’re mortgage people by training and have been financing new manufactured home deals for year. Watching the process is somewhat painful. It doesn’t have to be. We’ve teamed up with Cavco Homes’ buyer network to provide replacement manufactured homes that fit the California lifestyle at price points that make mobile home replacement costs reasonable and likely profitable for home owners that sell in the future.”

Rory continues “We don’t have high overhead so we offer better pricing. We end up with deals lenders love to underwrite. I don’t know any other dealers that are mortgage brokers too. Our start to finish process is all in house and it’s seamless. There’s never an issue with appraisal. And many deals can be completed with no cash from the buyer.”

MH Factory Homes mobile home replacement programs are designed for California mobile home parks (land lease) and resident owned manufactured home owners’ associations.

California mobile home parks are different from parks in the rest of the United States. Parks in California are full and there is a strong demand for affordable housing; hence a demand for the space. Often the right to lease a lot is sold as part of a transaction. However, values of old mobile homes are declining while the values of newer manufactured homes in stable communities continue to increase. The MH Factory Homes program solves this problem by utilizing two and three bedroom Cavco homes in distinctive open floor plan designs. In most cases, the trade in value of the home satisfies down payment requirements.

MH Factory Homes also offers a One Time Close Loans program designed for replacing old mobile homes in land owned communities, including manufactured home condominium communities. The loan program requires home installations to be engineered for construction on a permanent foundation system. Existing home owners can use the equity in their land plus the trade in value of their home as down payment. The loan pays off any existing liens and then pays for the cost of the home and construction. Construction interest is rolled into the total cost. No payments are due during the construction process and the loan is modified into a permanent FHA loan and completion of construction.

MH Factory Homes is a licensed California Manufactured Home Dealer. California Department of Housing and Community Development Dealer # 1284859 and is a Division of MH Loans California.

For More Information about MH Factory Homes go to the website: MHDealer.com

Contact Info:
Name: Rory
Organization: M H Factory Homes
Address: 380 South Melrose Drive, Vista, CA 92081, United States
Phone: +1-760-593-4200

For more information, please visit http://mhdealer.com/

Source: PressCable

Release ID: 188761