Pre-Cut Homes – this type of factory-built housing is created when building materials are factory-cut to design specifications, transported to the site and assembled. Some examples of pre-cut homes include; kit, log and dome homes. These homes must be constructed to meet local, state or regional building codes. These homes have most of the financing options available to traditional stick-built types of housing.
Panelized Homes – this type of home is built of panels that have been constructed at a factory and transported to the site for assembly. These panels can be an entire wall with windows, doors, wiring and exterior siding installed at the factory. These homes must meet state or local building codes where they are installed. These homes have most of the financing options available to traditional stick-built types of housing.
Modular Homes – this type of dwelling is delivered in multiple sections to be connected (assembled) on the site. These homes are required to be built to the state, local or regional code where the home will be located. These homes have most of the financing options available to traditional stick-built types of housing.
Manufactured Home – this type of housing typically is comprised of one (single wide) or two (double wide) sections which are installed on a site.There is an integral chassis that is part of the structure that is used to aid in the transportation of the structure to the site. This is the term typically referred to by HUD as a manufactured home and is built to HUD standards after their regulations enforced in 1976. These types of homes have restrictive and specific requirements to be eligible for financing.
Mobile Homes - is the term used for manufactured homes produced prior to June 15, 1976, when the HUD Code went into effect. These types of homes have very limited to no financing options.
Park Model – is a type of housing typically installed in vacation or camping communities. This type of dwelling is not intended for year-round living, but as an alternative to a vacation/recreation trailer. These are usually limited in size and utility.These types of homes have very limited to no financing options.
Nexus Analytix™ has staffed and trained appraisers experienced in performing appraisals of all the above types of factory-built homes. Whether our client is interested in assuring a quality loan collateral analysis or assistance in their business decisions, a key factor is a quality valuation or appraisal.
LEARN MORE ABOUT FACTORY-BUILT HOMES FROM THIS HUD PLUBLICATION
Still have a questions? Nexus Analytix™ can provide answers for your real estate appraisal questions. Please contact our offices at, Phone: (856) 985-0008 or by e-mail.