Benefits of Living in Manufactured Home Communities

Manufactured home communities are not what you may think! You’ll be surprised to find out that many communities attract all types of lifestyles and offer  luxurious amenities. We’ve included a short video on what you can expect to find in these wonderful communities!

Benefits of Living in Manufactured Home Communities

For more information on communities in your area visit our website or call 888 874 8692! 

How is Your Credit Score Determined?

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First of all, what is a credit score?

A credit score is a number that lenders use to estimate a borrower’s risk. When it comes to purchasing a home, a credit score plays a huge role in determining the interest rate a lender is willing to offer. Whether you’re a first time home buyer or looking for another home, it’s a good idea to obtain copies of your credit report, that way you know what you can qualify for. Now that we know what a credit score is, what factors affect it and how can you improve it? By understanding the 5 factors that can help or hurt your score you will be on your way to building a healthier credit.

 

  1. Payment History (about 35%). This is the largest portion of your credit score. Make sure that you make payments within 30 days as this can negatively affect your overall credit score. Always pay your bills on time. Late payments are probably the worst thing you can do.
  2. Amounts Owed (about 30%). Borrowing is certainly not a bad thing, but being in a lot of debt is. Make sure you don’t charge over half the limit on all of your credits.
  3. Length of Credit History (about 15%). Having a long payment history shows lenders you have paid your bills on time and will be likely to do so in the future. So, if you’re thinking about tossing your old credit cards you may want to think again. Keeping your credit cards are important in order to keep your credit history associated with each card.
  4. New Credit (about 10%). The fourth portion of your credit report has to do with the amount of accounts you have. Each time you apply for a new credit card it appears in your credit report. Applying for too many credit cards in a short period of time is seen as risky.
  5. Types of Credits in Use (about 10%). Spread out your debt among different types of loans. So for example, having some debt in car loans, student loans, and mortgage is better than having all debt on only your credit card.

Take a breath! It’s not all that bad. When it comes down to it it’s all about sticking to a budget and making payments on time.

Our in-house Finance Department will advise you on credit issues you have. We strive to make the home buying process simple and stress-free! Call us today at 888 874 8692!

The information provided is obtained from an article, What Determines My Credit Score? from Trulia.com.

Brief History of Manufactured Homes

Manufactured homes today are fit to standards and upgrades of modern times.  They have come quite a long way since the 1920’s when they were first built as “trailer coaches,” which were compiled as something more comfortable to sleep in while people were traveling.  As the years went on “trailer coaches” evolved into bigger trailers with upgrades such as appliances and soon appealed to homeowners. With the rising popularity and enhancements of “trailer coaches” to manufactured homes, Congress passed a law.

According to the article, A Brief History of Manufactured and Modular Homes, from RebelHome.net, it states, “In June, 1976 -The United States Congress passed the National Manufactured Housing Construction and Safety Act (42 U.S.C.). This means, since 1976, HUD assures that all homes are built to the rigid, consistent national standards it enforced back then and still does today”. It was from this moment on that homeowners were reassured that their home was built to a high standard.

The history of manufactured homes is significant because it is the evolution of a type of popular home. What started out as “trailer coaches” has expanded into a home fit for the ages and various lifestyles all over the country. Today, manufactured homes are identical to a regular site built home and come with the same amenities. Great strides have been made in terms of quality and remains a sound decision for affordable living. At Alliance, our brand new custom built homes come with luxurious features such as granite countertops, built-in energy efficient appliances, crown molding, wood window trims, and much more! We are more than happy to provide you with any information on manufactured homes in your area. Call 888 874 8692 today!