These HUD-code homes are built on a permanent chassis, or frame, and pulled to the site on their own wheels. When the home is attached to a foundation, its wheels, axles, and tow hitch are removed but the fram remains a permanent fixture of the home. Manufactured homes are complete factory-built, and arrive on site complete with appliances, carpet, paint, lights, and with the utilities ready to be hooked up on site. In addition to being attached to a permanent foundation, those that are two or more sections require extra onsite completion to attach and seal the units.

Manufactured Home Market

• Manufactured homes are "LOW COST" compared to site-built and other factory-built homes
• Sold through dealerships
• Often financed with chattel loans
• Often placed in land-lease "parks", rather than borrower-owned land

• Higher interest rates than home mortgage
• Fewer consumer protections-example, HOEPA and RESPA don't apply
• First-time homebuyer subsidies may not be available
• Homes are subject to repossession, rather than foreclosure
• MLS may not list manufactured homes listed for sale
• Fewer financing options for resale for Manufactured Homes on leased land