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NERTO Homes — Mobiles · Modulars

01Financing

Four ways to pay for it.
We will tell you which is yours.

What a home costs you every month depends far more on how you finance it than on which one you pick. Here is how the paths differ, and how to work out your own number.

02The four paths

How the paths differ, plainly.

Indicative ranges for comparing the paths against each other, not quotes and not an offer of credit. Your number comes from a lender after underwriting, and depends on credit, term, down payment and how the home is titled.

Conventional

5% down
6.4 – 7.1%30 yr

Fannie Mae's MH Advantage and Freddie's CHOICEHome both price manufactured homes at or near site-built rates when the home meets the eligibility criteria. Ask whether the home you are looking at is built to that specification — it is worth a great deal at closing.

Owned land · permanent foundation · real-property title

FHA Title II

3.5% down
6.2 – 6.9%30 yr

The most forgiving credit profile of any real-property option, and the lowest down payment. It requires an engineer's foundation certification, so build that into the schedule rather than discovering it at the end.

Owned land · permanent foundation · 400+ sq ft

VA

0% down
6.0 – 6.7%30 yr

No down payment and no mortgage insurance. Fewer lenders write VA on manufactured homes, so the shortlist is short — ask us who is writing them in Maine this month before you spend six weeks with the wrong originator.

Eligible service · owned land · permanent foundation

Cash / construction

—
——

No lender, no appraisal and no rate to compare. Ask us for the deposit schedule in writing before you pay anything.

Any

03Run it yourself

Move the sliders. Find your number.

Put in the home and development price you are working with, then the land, the rate and the down payment. Every figure is a slider, so change the one you are unsure of and watch what it does to the month.

What it actually costs a month

Estimate

You own the ground and the home sits on a permanent foundation, so it titles as real property. Conventional, FHA and VA all lend here.

Estimated monthly

$1,518/ mo

Principal & interest
$1,213
Property tax
$210
Insurance
$95
Home + land
$280,000
Amount financed
$270,200
Interest over the term
$166,595
Total of payments
$446,595

Illustrative only. Rates move, and your actual terms depend on credit, the parcel and the lender. We will put a real lender quote in front of you before you sign anything.

04Order of operations

Do these in this order and nothing goes wrong.

Almost every purchase that falls apart falls apart because somebody took the steps out of order.

  1. 01

    Call or visit the team

    Before a lender, before a floor plan. Ten minutes on the phone, or a walk through the homes standing on River Road, tells us where you are — land or no land, credit, budget — and tells you which of the paths above is actually open to you. If you do not own land yet, the buyer's guide at /start-here walks through the three ways onto ground.

  2. 02

    Pre-approval, not pre-qualification

    A pre-qualification is a lender being polite. A pre-approval is underwriting having actually looked. Ask for the second one; it costs nothing and takes about four days, and it sets the ceiling for everything that follows.

  3. 03

    Pick the home, the options and a deposit

    With the ceiling known, choose the plan, the finishes and the options. A deposit holds a build slot. Colour and finish selections stay open until the build lock date, typically three weeks before the plant run.

  4. 04

    Find the land and walk the site

    If you do not own ground yet, we help you look. Once there is a parcel, we visit it: access, utilities, setbacks, soil, permits. We produce a written number for the development. This is the line item that surprises people, and it is the one nobody else will quote you up front.

  5. 05

    Close at set, not at order

    You do not start paying a mortgage on a home that is still a stack of lumber. Funding happens when the home is on its piers and the foundation certification is signed.

05Credit

Asked and answered.

We can work with credit as low as 580. If you are below that, contact us and we will enrol you in one of our credit restoration programs — buyers who have gone through it have been approved in two to six months.

Want a real number instead of an estimate?

Tell us the parcel, or that you are still looking for one, and we will put a lender quote and a written development cost in front of you.

Start there