If you are interested in buying a manufactured home in Utah, you do not have to pay for it in cash upfront. In fact, you can finance a manufactured home just like you can any other home. Some financial companies specialize in loans for manufactured homes, which is just a mortgage. You do not have to use a specialized financing company though, unless that is your preference. Rates for financing a manufactured home vary by lender, term and amount financed.
Gather your financial information that you will need to apply for financing. You can get a free copy of your credit report on the Annual Credit Report website to see if there are any discrepancies that need to be corrected. You will need your employment and income information for the last three years. You will also need information about the manufactured home itself, such as the manufacturer, model, where you will be placing the home and if you own the land or will be leasing it.
Visit a manufactured home retailer in your area to view the available homes. Use the Mobile Home Park Store website for a directory of retailers in Utah. Typically, retailers offer in-house financing, which you can apply for using your financial information.
Contact a local bank in Utah or a manufactured home lending specialist, such as JCF Lending Group or Financial Services Unlimited, to apply for financing. You can do this if you do not want to finance through the retailer. Use your financial information that you gathered to complete the application.