No. As the quality of the home has improved
and the setup qualifications have become more rigid, very few homes are ever moved again.
Is the manufactured home buyer purchasing a first
No. In the 1970s, 50% of the homes sold
were to first-time home buyers. Now with the improved construction of the homes and more of the
homes being set on private sites, the industry’s average age of the customer is near 54. The
size of the homes has also helped to expand the market. Now the industry produces single wides,
double wides, triple wides and two-story homes.
Most of the homes are built with 2 x 6 wall studs, 16” on center. Most homes also come with
shingled roofs and vinyl siding. All are produced under the HUD building specifications.
What is the average life of a manufactured home?
Because of the construction requirements
of manufactured homes, many options both inside and out
are equal to a conventional type of home. If maintained, like any home they will last a
Manufactured homes are still an affordable alternative to the American Dream.
Alliance Credit has several lenders. How do you
determine what deal comes to our bank?
The first important issue we determine is your bank's geographic desire. The second issue is the
volume the investor is looking for. Once we have determined this, Alliance Credit will focus on the
investor's selected geographic lending region. Customers financing their manufactured homes may also
to use other services that the investor offers. Alliance Credit has been very successful in helping
investor with cross-selling other products and services. Our objective at Alliance Credit is to sell
investor solid quality loans from our priority dealers. We will only be sending loan applications
the investor's underwriting standards.
Who tracks the physical damage insurance on the
At the time of closing, Alliance Credit will supply the investor with a one-year paid insurance
policy. If the investor would receive any cancellation notice, they would fax it to our office, and
then we will make contact with the customer and the insurance agency and ensure that a policy is in
Typically, what is the usual selling season of
In the states where Alliance Credit is
licensed, the season picks up in March and slows in December.
Who establishes the interest rates and how?
From time to time, Alliance Credit analyzes our competition and the market. We also track common
such as the prime rate. When there is a change we will send out a letter to our investors notifying
any increase or decrease in rates. We do remain committed to our attempt to originate manufactured
paper that will be competitive as well as a solid rate of return.
What is the percentage of single wides to
Last year, single-wide homes made up 25% of manufactured homes sold. Seventy-five percent of homes