Prospects for Factory-Home Financing High
An abundance of wholesale and retail financing should be available to the manufactured-housing industry for the remainder of 1985 and well into 1986, according to David J. Leichey, Palm Springs-based industry consultant.
He told the annual convention of the Arkansas Manufactured Housing Assn., “The manufactured-housing industry is currently enjoying an abundance of sources of financing and interest rates are the lowest they have been in several years.”
He said that, nationally, there are about 3,000 lenders financing manufactured homes and the average fixed rate on retail manufactured-home loans is in the area of 14%.
Commenting that the industry is benefiting from the best financing terms since its conception, Leichey said the industry “is very close to parity with the site-built home in the types and variety of terms for financing being offered by lenders.”