Yes, applying for a financing or a re-finance can be more difficult in this type of housing since these parts are not always placed on a permanent foundation.  By examining manufactured homes, you can see that they are less expensive and oftentimes decrease in value over time compared to site built homes, modular homes or traditional Baltimore MD homes.

The main reason why it is difficult to get a finance for this type of house is the fact that the depreciation of the manufactured house is great risk to the lender.  Home financing for manufactured homes is more difficult compared to applying for a finance for a traditional house.  Aside from this, the interest rates and duration for payment is higher than that of traditional houses.

Some of the factors that determines the amount of loan that you will get are your credit history and your monthly income.  Your payments depends on the interest rate that you are paying.

Although there are a lot of financing options for manufactured homes, interest rates are a little higher.  You also have to specify if the loan is just for the manufactured home alone or the one which includes loan for the house as well as the land.

You have more financing options  and lending companies to choose from unlike in the past.  But since manufactured home financing is different than that of a ‘stick built’ single-family home or a modular home, construction lenders have different requirements in manufactured home financing.  So make sure that you have understood the terms and conditions of this kind of loan.  It can be tough but with a little help from your agent you can get the best offer.