Smart Homes™ Frequently Asked Questions
Generally speaking, our finished homes cost about 30% less than finished stick-built homes are costing at the moment. This varies somewhat from contractor-to-contractor building in the Santa Rosa area at this time, and also the number and variety of upgrades our customers choose. We do want to mention, however, that our standard-level appliances and finishes are of high quality, contemporary in design, look and feel, and are made from brand-known appliance and materials manufacturers. Our standard homes are very livable and nice, and the cost of the home is only about half of the total finished price, which is determined once we are engaged with a customer and we go through the options and process with them. A substantial advantage of buying a manufactured home, and this certainly is the case with Smart Homes, is there are no change orders and no additional costs during construction, as is the case for nearly everyone that rebuilds using traditional, stick-built home building methods.
The finished home price is established using this process:
- Home Cost
- Upgrades & Options
- Site Due Diligence
- Engineering (for soils and to design an appropriate foundation for each property – standard requirements in the rebuild areas of Sonoma and Napa counties)
- Site Work
- Sales Tax (The State of California, like almost all states, imposes a sales tax on manufactured products, including homes; homeowners having their homes built with traditional construction similarly pay sales tax on all the materials purchased for their jobs, for windows and doors, appliances and fixtures, etc.)
- Total Cost to Consumer:
HUD VS MODULAR FAQs
Many types of financial institutions and service companies including banks, credit unions, mortgage companies and consumer finance companies offer loan programs for Off-Site Constructed home buyers. These companies can offer a number of types of consumer, conventional and government-insured financing, such as the FHA and the VA USDA/Rural Development and other loan programs. As for their investment possibilities, Off-Site Constructed homes can retain and gain value when placed in the proper environment, installed and maintained properly and treated as a long-term housing investment.
MH Advantage Mortgage for Manufactured Homes
Finding an affordable home is challenging when supply is low, prices are high, or available properties need renovations. Manufactured homes are an option offering significant cost savings over traditional homes. There are a variety of modern, attractive models built to high standards with today’s sought-after amenities. The main difference is they’re built indoors in efficient state-of-the art facilities, then delivered and installed on your chosen home site.
So if you’re feeling limited by the types of homes in your price range, consider adding the manufactured option for more choices at prices you can live with.
What is MH Advantage?
MH Advantage® is a mortgage loan for manufactured homes that have features typical of traditional single-family homes. It offers traditional 30-year fixed rate financing with benefits that exceed standard manufactured home loans. When you buy an MH Advantage-eligible home, you’ll get:
Quality and Style – Homes can include custom amenities like attached garages, upgraded kitchens and bathrooms, energy efficient appliances, and architectural features that help them blend seamlessly into traditional neighborhoods.
Affordability – MH Advantage offers down payments as low as 3%, interest rates lower than most traditional manufactured home loans, and cancellable mortgage insurance. Plus, it may be combined with a HomeReady mortgage for additional benefits.
Homeownership Advantages – You may benefit from the financial perks of homeownership, like the potential for tax benefits and building equity. That could mean extra money in your pocket at tax time or if you ever decide to sell the home.