Mobile Homes for Sale in California

As home prices drop in residential single-family residents so are manufactured home prices.  Now is a great time for a first time home buyer to invest in a mobile home.  Retailers such as Home Quest are offering zero percent interest on some of their new manufactured homes for sale.  If you are patient and shop around you can purchase a new manufactured home for less than the recommended suggested retail price (SRP) for several reasons.  Reasons for mobile home dealers in California dropping their homes below the price it costs them to get the home built, transport, purchase permits, pay monthly space rent, and flooring line is partly due to limited funds available for home buyers to receive mobile home loans, banks that carry flooring lines have increased their interest rates trrmendously, and there is not the demand there once was.

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Mobile homes dealers in california are trying to get rid of their inventory so they can pay off their flooring line of credit.  A few months ago GE who plays a major roll in the industry for supplying dealers with lines of credit announced they will cut back on the number of units they finance and they have increased their interest rates as much as 30-40% with no warning to the dealers.  This increase in the interest rate is forcing dealers to sell their mobile homes even if it is at a loss to cut back on their interest payments to the flooring lender.  Mobile home financing for the home buyers has become more difficult as well.

In the previous years 21st Mortgage who is owned by Berkshire Hathaway, Inc. has been one of the top banks to give funds for mobile home loans.  A large precentage of the manufactured home dealers rely on 21st Mortgage in order to sell their new homes.  Without them dealers have very few resources  to get home buyers financed, but 21st has decided to only give loans on mobile homes that are new and purchased from one of their manufacturers.  Two major manufacturers under this umbrella are Golden West Homes and Clayton Homes.  Now that available financing is limited, if you do qualify for financing for a mobile home your interest rate will range from 9%-14% depending on your credit history and bank you are receiving the loan from.

Now that financing is more difficult to qualify for and interest rates are outrageously high some dealers have taken the responsibility of financing their new homes themselves.  One reputable manufactured home dealer in California who has taken matters in their own hands is Home Quest.  Home Quest is based out of Yorba Linda, California. They are offering financing on some of their new homes in Riverside, Orange County, San Diego and San Bernardino with zero interest in the first year.  This is a savings up to $5,000.  on top of that Home Quest will pay for half of the space rent for 2 years.  Depending on the manufactured home community you will save over $10,000 in two years on space rent.  We have never seen an offer like this before.  You can contact Home Quest at (714)974-0397 or visit www.HomeQuestSales.com.

There is opportunity in this market if you have the patience and the right tools to search for a manufactured home.  We recommend hiring a licensed manufactured home sales associate to find you the right home for the best investment.  Manufactured Home World is a great resource to find a sales associate to purchase your mobile home and you can receive a online mobile home insurance quote here.