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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

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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

 

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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
The 3 types of Mobile Home loans you need to know - Home Nation

The 3 types of Mobile Home loans you need to know

Manufactured Home Lending Programs

There are 3 main types of lending options available when considering

manufactured/modular construction, Chattel, Construction and End (Permanent)

Mortgages. Each has its own specific purpose and characteristics. Below is a review of

these programs and the specifics of each.

 

this is a great chart

 

1. Chattel Mortgage

A Chattel Mortgage is a loan that can be obtained from a bank or financial institution

using some sort of movable personal property (other than land and buildings) as

security – so a Chattel mortgage is used for financing a car, RV, boat etc on its own

without any land. It is also the mortgage that is used for financing a Manufactured

home on its own without using the land as collateral for the loan. Perfect for a home

going into a Mobile home park or on someone else’s land where there will be no

mortgage on the land just the home itself.

 

2. Construction Mortgage

A Construction Mortgage is a loan that allows for funds to be drawn in phases to

complete construction objectives, such as foundation, home purchase, home setup, etc.

There are two main types of construction mortgages:

 

yooo

 

(a) Stand-alone construction plus permanent mortgage: There are two loans

with this traditional construction loan. The first loan pays for construction as the

home is being built. When you move in, you get another mortgage to pay off the

construction loan. It’s two separate loans and is the kind of construction

mortgage that home builders use when the building process takes a long time.

The second mortgage will close at whatever the interest rate is at the completion

of the construction process. Each loan has its own closing costs and interest

rate.

 

(b) Construction-to- permanent: You close only one loan up front for the total

estimated costs of construction plus the home. This is the loan we typically use

for the shorter time frame for the construction of a factory-built home. The lender

pays the contractors for the construction costs as they do the work and pays the

dealer for the home when it comes off line. When you move in the loan balance

(the total amount paid) becomes your permanent mortgage without the need to

close another loan.

 

3. End (Permanent) Mortgage Loan

An End loan (Permanent) Mortgage is a loan that will pay for a completed real estate

project (or for the purchase of any existing home for that matter). Permanent financing

 

is obtained after completion of construction, there are no draws during construction as

with a construction loan.

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