the honorable home nation logo the esteemed home nation logo 1-877-50-HOMES Error
  • HOMES
    ADU - Accessory Dwelling Units Pre-Ordered Homes Site Built Homes Single Wides Double Wides Modular Homes Used Homes
  • OUR PROCESS
  • FINANCE
  • BLOG
  • INFO
    Locations Reviews Make a Payment Investors FAQ Sell your Home
Enter your Zip Code
X

Estimated Installation Cost: NOTE This is a price guide only. Actual costs will vary depending on specific site conditions and by region

The estimated installation cost includes the following*:

  • Setting the home that you selected onto your foundation or building pad (This assumes normal lot conditions and does not include any extra costs to maneuver the home to your building site or any crane rental fees)
  • Installing blocking or piers under the home and levelling the home with shims
  • Anchoring the home to your foundation with tornado and/or hurricane proof anchors
  • Insulating the marriage line and bolting the various sections of your home together at both the floor and roof lines (if there is more than one section)
  • Finishing roof venting and ridge cap shingles
  • Installing siding on the ends with house wrap (if you selected the house wrap option with your home order)
  • Installing soffit and fascia on the ends of the home for the complete exterior finish
  • Estimates to hook up to existing utilities (you will have to add the cost of a new septic, well, electrical service, and also driveway and etc as needed on your site)
  • Estimate to complete the inside trim and finish work

Notes:

Add for concrete If a concrete foundation (slab or crawl space) is required, add an estimate of $10 per Sq Ft of home to this price guide (if you don't have an actual quote)

Add for skirting (Not needed if home is on a crawl space)

Add for A/C if not an option included by your manufacturer

X

Typical Investor funded projects

EXAMPLE # 1

 Project Cost                                                                $160,000

    Includes Land (40,000) + Home (90,000) + Home Installation (30.000)

LESS Buyer Down Payment                                           (20,000)

Balance                                                                         140,000

Management fee (10% of balance)                                14,000

Investor capital (70% of balance = 61% LTV)                 98,000

Home Nation capital (30% of balance)                          42,000

Net to Investor at Buyer’s loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $7,000

 

EXAMPLE #2

Project Cost(See VA loan pre approval here)                267,000

Less Buyer down payment                                             (1,000)

Management fee(@10%)                                               26,000

Investor capital (@70% = 63% LTV)                              187,000

Home Nation capital (@30%)                                         80,000

Net to Investor at loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $13,350

 

X

AFFORDABLE HOUSING INVESTMENT PROSPECTUS

Please email Invest@HomeNation.com to request a prospectus of investment opportunities at Home Nation.  Regrettably, we are only permitted to offer our investments to accredited investors at this time.

You may also be asked to sign a NDA (Non Disclosure Agreement) and an AAI (Affidavit of Accredited Investor Status) form. 

 

Us
Closing costs on a Mobile Home loan - Home Nation

Closing costs on a Mobile Home loan

Closing costs are those charges assessed by the lender, title company, municipality, or real estate company when the loan is "completed", in order to pay for the services needed to close the loan. These charges, while quoted by the lender, are not all assessed or determined by the lender. A competent lender should be very familiar with those charges a borrower should expect to encounter at closing. One of the biggest drawbacks to utilizing an out of state or web-based lender is their lack of familiarity with local practices and charges. While those lenders usually have some general knowledge of the regional differences they can’t be intimately versed on every area of the country. This frequently results in buyers finding charges at closing that were not disclosed initially by the lender. At that time there is usually not much you can do about the extra charges except pay them.

i'm walking to the bank right now

The costs you are most likely to see from a lender are appraisal, credit report, tax service and flood certification. Occasionally there will be an all encompassing fee such as a processing, administration or underwriting fee. This fee often covers a series of smaller costs associated with a loan without detailing the costs themselves. In some circumstances these fees are simply a way of generating additional revenue for the lender. If a particular fee seems too high ask the loan officer to explain what the fee covers. It also not a bad idea to look at the total of costs being assessed.

Typical title company charges include title insurance and closing fees. Since, in Michigan, the title company is responsible for the recording of some of the closing documents they will pass along the recording fees from the county. Also the title company is most commonly the party determining whether a survey is needed (although this is ordered by the lender). The title company also prepares some of the closing documents and is responsible for closing the loan so you will most likely encounter a closing fee. You may also run across miscellaneous title company fees such as overnight or courier fees, recording handling fees, email fees, wire fees, etc.

Unfortunately, most buyers don’t have a say in the title company and can end up charged a plethora of costs that would be considered “junk”. You can speak with your real estate agent about getting a list of the title company charges before the closing (or in some cases before entering into a contract for a home) so that you can be prepared for the charges. Another option to keep from paying excessive or unnecessary fees that you won’t find out about until a day or two before closing is to include a clause in your purchase contract stipulating the maximum you are willing to pay the title company for their services.

This way the seller or the seller’s realtor can arrange this with the title company prior to the closing. An experienced Realtor can tell you what is customary and typical for the area.

Points – This next part is where it gets a little complicated…

your bill may go up if you don't pay...now!

Lenders typically compute their income on a loan in percentages or “points”. A point is 1% of a loan amount. A lender who is making 1.5 points on a $100,000 loan is making $1500 (100,000 x 1.5% = 1,500). The lender sometimes has the opportunity to increase the percentage points it is making on a loan by increasing the interest rate. If the lender in our example charged an additional .25% in interest rate, they may make an additional 1 point ($1,000) on the loan. Knowing this information sometimes allows you to lower your closing costs or prepaids by selecting a higher interest rate. A lender who is making 2.5% on a $180,000 loan may be very willing to pay all or most of your closing costs.

If you are short on money or if you are not planning on keeping the mortgage for a very long time, be sure that you consider the option of raising your interest rate in lieu of a higher rate. At the same time a lender who is charging a lower rate may be making nothing on the loan or in fact may need to pay the additional money (points) to secure the lower interest rate for the customer. That additional cost for the money is passed on to the borrower in points that the borrower pays at closing. If you are planning on staying in the home for a long time, you may consider paying a point or two at closing in order to lower your interest rate over time.

When  comparing mortgage companies’ closing costs I often suggest that you only compare those costs assesed by the mortgage company and leave out those assessed by outside parties. This allows you to compare only those costs from the lender and not the third party estimates that the lender can fudge with. At the same time, letting the lender provide you an estimate of all the costs will reveal a lot about the lender. If they are understimating the costs from the third parties in the transaction then I’d be wary about how they are representing other areas of their services and costs.

In addition to closing costs you will need to come up with what are termed “prepaids”. Prepaids are those items that are considered part of the loan’s recurring costs. There are four prepaids that you will find at most closings. You can read more about prepaids HERE.

Read More


Top Mobile Home Myth...

3 Ways your Mobile H...

How to block level a...

Documents needed for...

Mobile home designs ...

  • Single Wides
  • Double Wides
  • Modular Homes

  • Mobile Home Blog
  • Take a Survey
  • Privacy Policy
  • Sitemap - XML Sitemap
  • Mobile Homes in Indiana
  • Mobile Homes in Ohio
  • Mobile Homes in Michigan
  • Mobile Homes in Florida
  • Mobile Homes in Colorado
  • Mobile Homes in Texas
  • Mobile Homes in Georgia

    Follow us on Facebook

Home Nation © 2022 ‐ All Rights Reserved
User Login
My Project
My Project