These are clients with great income, credit scores and who are very creditworthy. “In the past year, there was roughly $12 billion in sales of manufactured homes. The Institute also stated that 22 million Americans currently live in manufactured homes and this building type accounts for 9% of new home construction. A recent report from the Manufactured Housing Institute showing manufactured homes cost, on average, about a third of a site-built home. Manufactured homes offer a cost-effective choice for homebuyers, Rocket notes. “It’s our hope that, through this new option, more Americans can realize their dream of homeownership.” “After revolutionizing the home loan experience for traditional site-built homes, we are proud to bring the technology and expert guidance Rocket is known for to those who are purchasing manufactured homes,” said Bob Walters, CEO of Rocket Mortgage. Once the home arrives on site and is placed on a permanent foundation, it becomes real property and is able to be financed through a mortgage. It is then delivered to the land where the owner will live in it. Manufactured homes are built at indoor homebuilding facilities in accordance with the Department of Housing and Urban Development’s Manufactured Home Standards. Rocket Mortgage, a mortgage lender part of Rocket Companies, has introduced a conventional loan option for Americans who are interested in purchasing or refinancing a manufactured home.
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