Are Clayton Homes any good?

Are Clayton Homes any good?

With the variety of homes and features available, along with energy-efficient options and green building certifications, many customers agree that Clayton Homes is a good company to work with. In addition to quality building practices and materials, each build is thoroughly inspected.

Has anyone ever won a lawsuit against Clayton Homes?

The Nix Patterson LLP (NPR) law firm has a page devoted to a class action lawsuit that they state that they brought against Clayton Homes, which resulted in a $100,000,000 settlement.

What credit score is needed to buy a manufactured home?

Bank or Credit Union In this case, financing a manufactured home is fairly similar to financing a traditional home. You’ll need a credit score in the mid-600s, a down payment of 10%-20% (as low as 3.5% with an FHA loan), and income that is roughly three times the mortgage.

What credit score do you need to buy a modular home?

Your credit score, down payment amount and type of home and whether you’re buying the land will affect the amount you pay. To qualify for low mobile home interest rates, make sure your credit score is at least 700. You’ll need a score of 750 or higher to qualify for the best rates available.

Are Clayton homes overpriced?

Under federal guidelines, most Clayton mobile-home loans are considered “higher-priced.” Those loans averaged 7 percentage points higher than the typical home loan in 2013, according to a Times/CPI analysis of federal data, compared to just 3.8 percentage points for other lenders.

Do Clayton Homes depreciate?

DO MANUFACTURED HOMES DEPRECIATE OR APPRECIATE IN VALUE AFTER THEIR INITIAL PURCHASE? Myth: Manufactured homes do not appreciate in value like other forms of housing. Instead, manufactured homes depreciate in market value, similar to the way automobiles lose value each day.

Is it hard to get approved for a modular home?

Harder to finance: Financing a modular home is more difficult, and some lenders cannot approve them. You may need a construction loan if the builder requires you to pay in full or at certain stages to complete the build. Buying land: The cost usually doesn’t include purchasing the land the home will be on.