both are easier in a ROC

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If you are considering buying a manufactured home (sometimes called mobile home), you should consider the benefits of resident-owned communities (ROCs).

Co-op communities are owned and run by the homeowners. Residents have greater control over rules and bylaws, access to better mortgage financing (which increases the value of their homes) and more financial security because they have a say in lot fees and park improvements.

Be sure to let your local Realtor know you’re interested in buying or placing a home in a resident-owned community.

Manufactured-home owners who live in New Hampshire ROCs and borrowers who want to purchase a home in those communities can apply for a Welcome Home Loan from the N.H. Community Loan Fund. Fixed-rate loans for purchase, home equity and refinancing for debt consolidation or home improvement are available.

Residents living in the following 10 co-ops may also qualify for Home Preferred Manufactured Housing in ROCs loans. These are conventional mortgage loans that can save you thousands of dollars.

Home Preferred-approved co-ops
  • Barrington Oaks, Barrington
  • Camp Sargent Road, Merrimack
  • Elm Brook Village, Hopkinton
  • Exeter-Hampton, Exeter
  • Lakes Region Manufactured Housing Cooperative, Belmont
  • Lilac Drive, Raymond
  • Medvil, Goffstown
  • Otarnic Pond, Hudson
  • Pepperidge Woods, Barrington
  • Windy Acres, Charlestown
Before purchasing a home in a ROC, you must be approved by the cooperative’s membership committee.

Like any landlord, the co-op must abide by the Fair Housing Act and not discriminate against any race, color, religion, sex, handicap, familial status, or national origin. However, a co-op can reject applicants with criminal backgrounds or whose credit or income is insufficient.

Once you have a purchase and sales agreement on a home, you should immediately apply for membership through the co-op office by filling out a short form and agreeing to both a credit and criminal background check. The co-op is required to approve or deny membership within 14 days of accepting your complete application. Prior to closing on the sale of your home, the board of co-op will execute a “Consent” that is attached to the deed, indicating your approval for membership.
Co-op members who are active and engaged members of their communities have the best results selling their homes. Attractive, well-organized and well-managed communities with happy members generally attract more enthusiastic buyers. So the best thing you can do to help to sell your home is ensure that your community is a great place to live. Buyers sense and appreciate the enthusiasm people have for their communities.

A reputable local Realtor can be a great resource when you are selling your home. Ask your neighbors for referrals and try to find one who is familiar with your ROC and who has experience selling manufactured homes. A Realtor can help you determine the value of your home, advise you on market conditions and make suggestions for what you should or should not do to your home prior to listing it for sale.

Before hiring a Realtor, be sure you understand their relationship with you, commission schedule and specific plans to expose your home to as many potential buyers as possible. Real estate commissions are always negotiable, so interviewing more than one Realtor may serve you well.

Also, be sure your Realtor understands all of the financing options for your home, has membership application materials for your ROC in her or his office, and understands your ROC’s membership process.

Remember, people buy a lifestyle as much as they buy a home, so making sure your community has a reputation for being a great place to live will pay off when you sell your house.

ROC-NH™ is a program of the New Hampshire Community Loan Fund, Inc. and a ROC USA® Certified Technical Assistance Provider. ROC-NH is a registered service mark of ROC USA, LLC.

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New Hampshire Community Loan Fund
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