Off-Frame Modular Home Payments are Less than Mobile Home Payments, Here’s How.
Mobile Home Payments vs Modular Home Payments
Many people believe that they have to buy a mobile home to keep their payments low. When comparing mobile homes and a Custom Built Off Frame Modular Home, that could not be further from the truth. As many of our customers have found out, an $80,000.00 mobile home can very easily have a HIGHER payment, than a $150,000.00 Custom Built Off-Frame Modular Home.
Lower Interest Rates for Modular Homes
One reasons for that is that most banks charge higher interest rates on mobile homes than Off Frame Modular Homes. A perfect example would be an $80,000.00 mobile home at a 10% interest rate versus a $150,000.00 Custom Built Off-Frame Modular Home at a 3.5% interest rate. Both homes would have approximately the same payment.
Lower Insurance Premiums
Another reason is that most insurance companies charge higher premiums on mobile homes than they do on a Custom Built Off-Frame Modular Home.
Finally taxes. Mobile Homes are taxed as personal property because they come with a title just like a car. Custom Built Off-Frame Modular Homes are taxed as real estate just like any other site built home.
Now we all know a Custom Built Off-Frame Modular Home exceeds mobile home quality of construction, so WHY would you ever buy a mobile home of lower quality, when you can own a Custom Built Off Frame Modular Home for the same monthly payment???