Hello alita.hines, the difference is that agents have to work for real estate brokers but either can assist you with the purchase. Now there is quite a difference in the qualification guidelines and lenders for mobile home/manufactured homes than condos, townhomes or single family residences.
There are no lenders or are hard to find for single wide or built older than June 14th 1976. Mobile home financing is more strict than stick built structures and you would need higher fico scores and more down payment.
An agent or real estate broker can not discuss interest rates of loan programs and generally do not know financing.
You should study and compare qualifications, down payments and payments between mobile homes, condos, townhomes and single family homes to make an informed decision.
Do you have down payment and closing costs saved or do you need down payment and closing cost assistance programs. Do you know what your fico scores are and how much you want to invest into the purchase?
Are you speaking of mobile home on its own land or in a park with space rent or a new mobile home on its own land? There are no down payment assistance for mobile home/manufactured homes and only for stick built unless you are a Veteran buying a new mobile on its own land.
What are your fico scores, maximum payment you are looking to afford and how much do you want to invest into the purchase will determine what financing choices you will have.
If you figure out what cities, zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to afford you can be set up for automatic daily emails to fit your search criteria from any agent.
The mobile homes start from 50k for 2bd 1ba singlewide built in 1984, from 56k for a doublewide 1bd 1ba built in 1970 and the space rents are approx. $1,470 monthly.
The stick built in 90805 zip code start from 189k for 1bd 1ba condo, 290k for 1bd 1ba single family home. If you need more room the 3bd 2ba condos start from 299k.
Check out the web reference link below...