Financing Information
We can finance any of the following types of transactions:
Home Only: This type of loan uses only the home as collateral. The home may be located in a park, on your land or on third party land.
Home and Land: This type of loan allows you to finance your land and the home in a single payment. The land can be land you propose to purchase or land you already have under contract.
Land-In-Lieu: This type of loan allows you to use equity you may have in your land instead of using cash for a down payment.
We offer FHA, VA, Conventional and FmHA (Farmers Home Administration) financing at the lowest rate on the market. Terms are up to 30 years. Down payments are as low as 5% on most programs.
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The USDA provides special no-down payment loans for certain geographical areas and for people whose incomes do not exceed certain levels. Home-Mart offers the first manufactured home that has been approved to comply with USDA's very stringent construction and energy guidelines.
| If your rent per month is... | You will pay this while losing tax benefits and appreciation. | ||
| IN 3 YRS. | IN 5 YRS. | IN 10 YRS. | |
| $350 | $13,900 | $25,600 | $66,900 |
| $400 | $15,900 | $29,300 | $76,500 |
| $450 | $17,880 | $33,000 | $86,220 |
| $500 | $19,860 | $36,630 | $95,625 |
| $550 | $21,846 | $40,294 | $105,187 |
| $600 | $23,832 | $43,957 | $114,750 |
| $650 | $25,818 | $47,620 | $124,304 |
| $700 | $27,804 | $51,283 | $133,874 |
| $750 | $29,790 | $54,946 | $143,437 |
| $800 | $31,776 | $58,609 | $152,999 |
| $850 | $33,762 | $62,272 | $162,562 |
| $900 | $35,748 | $65,935 | $172,124 |
| $950 | $37,734 | $69,598 | $181,687 |
| $1000 | $39,720 | $73,261 | $191,249 |
Consequences of Renting:
|
Benefits of Owning
| Monthly Payment |
Monthly Tax Savings* |
Net Tax Savings* |
Yearly Tax Savings* |
5 Year Tax Savings* |
| $250 | $64.40 | $185.60 | $772.80 | $3,864.00 |
| $300 | $77.28 | $222.72 | $927.36 | $4,636.80 |
| $350 | $90.16 | $259.84 | $1,081.92 | $5,409.60 |
| $400 | $103.04 | $296.96 | $1,236.48 | $6,182.40 |
| $450 | $115.92 | $334.08 | $1,391.04 | $6,955.20 |
*Assumes customer to be in 28% tax bracket.
Benefits of Owning
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