From Young Granite Staters looking to buy their first home to seniors looking to downsize to single-floor living and age in place, manufactured-home ownership is a cost-effective, energy-efficient option.
But what do you really know about this form of housing? What makes a manufactured home different from a site-built home?
What if you could become a homeowner in New Hampshire and save $300 a month* compared to renting a similarly sized space? That’s the savings that homeowners in the Granite State who live in manufactured homes in resident-owned communities (ROCs) are realizing in the face of a challenging housing market.
Manufactured homes are the most affordable option for working families, first-time buyers, and retirees at a time when the median home price in New Hampshire has soared past $500,000. Manufactured homes cost, on average, about half the price per square foot of a site-built home.
Most manufactured homeowners are your neighbors who are realizing their dreams as homeowners for the first time. Here are more facts about manufactured-home owners in New Hampshire, according to the Community Loan Fund’s lending data:
The New Hampshire Community Loan Fund launched one of the nation's first fair, fixed-rate-mortgage programs for manufactured-home buyers two decades ago so they didn't have to turn to personal loans or predatory lenders for financing. Since then, the nonprofit Community Development Financial Institution has helped more than 1,400 borrowers become first-time homeowners.
Here are more resources about manufactured homes: