The Best Mobile Home Dealers of 2021 - Investopedia
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Mobile home dealers can add a lot of value to home buyers. Some dealers from our list have integrated factory arrangements where customers can actually see a home being built in order to better understand the quality and craftsmanship. Others have robust online catalogs that bring multiple manufacturers' lines together under one digital roof with brochure downloads and 3D tours.
Perhaps the most valuable service that separates the best mobile home dealers from the rest is the site preparation, permitting, mobile home insurance, and delivery project management tasks that the dealer's staff does for you.
Factory Expo Homes combines the best of it all with their factory-direct pricing, factory tours, fully furnished model home tours, wide selection, lender resources, and a 12-month warranty.
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Frequently Asked Questions (FAQs): Mobile Home Dealers
What Does a Mobile Home Dealer Do?
Mobile home dealers represent one or more manufacturers to a regional or nationwide market. They often have at least one showroom for customers to tour, and some offer online 3D tours. The dealer helps you discover what you want in a mobile home layout, size, and features. They also help you with your permit process and financing solutions. Finally, they work with you on scheduling your home's delivery and setup on your land.
Can You Haggle With Mobile Home Dealers?
You can haggle with mobile home dealers. They operate like an auto dealership does, where the mobile home dealer's invoice price has a profit margin built in, often ranging from 18% to 26%. There is room for the dealer to lower their price.
Another way you'll be able to negotiate with a dealer is by asking about their cash-buyer discounts, inventory close-outs, and other sales incentives. While these programs already have marked-down prices, you can try to push further to negotiate an even better deal.
What Credit Score Do You Need to Buy a Mobile Home?
Fortunately, there are loan programs where you can qualify for a mobile home loan with a credit score in the 500s. Like other lending scenarios, the higher your credit score, the lower your rate, and the better your terms will be.
If your score is in the 500s, you'll want to be on the lookout for a lender that specializes in FHA, USDA, or VA loans. These programs make it easier for lenders to accept borrowers with lower credit scores because the government takes on most of the risk. There are lenders, like 21st Mortgage Corporation, who have no minimum credit scores. 21st Mortgage, for example, states that if your score is below 570, then they will require a 35% down payment.
How We Chose the Best Mobile Home Dealers
After reviewing more than 30 mobile home dealers, we found our favorite seven when it comes to hands-on help, reliability, and experience. We looked at how long the company has been around to gauge their expertise and reputation. We preferred to list nationwide dealers to make them accessible to more of our readers, but there are some that were regional players.
We liked dealers that had many options, especially multiple manufacturers' lines. We feel they can be more objective when helping you choose the one that best meets your needs. When we reviewed financing solutions, we kept an eye on what role credit scores played and what fees were involved. Finally, we looked at the dealers' processes and warranties. We favored dealers with a transparent, streamlined process that turned what could be a complicated hassle into a stress-free purchase.
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