If you are looking for a home but you don't have a whole lot of money to spend, you should find out how to find manufactured homes for sale. Manufactured home floor plans vary widely and each home come equipped with amenities and extras that make the reasonable asking price all the more attractive. There are manufactured homes that have had previous owners, these homes are sold at a drastically reduced rate. Some people confuse a manufactured home with a modular home but there are differences.

Modern manufactured homes offer more styles and they are less expensive than a modular home or a home built on site. The downside is, the price of a manufactured home rarely increase in value, the trend is that the older the home, the lower the actual value and the resale value.http://homebuying.about.com/cs/modulareducation/a/modularhomes.htm

If you need to get a loan for your manufactured home, you can get help from the Federal Housing Administration (FHA), for up to $92,000 for a home and a lot. You can get a list of the local lenders from the dealership or you can check with your bank and ask about how to get a mortgage loan or how to get an FHA loan which will give you lower interest rates.http://www.hud.gov/offices/hsg/sfh/title/repair.cfm

You can find brand new manufactured homes for as little as $15,000 or luxury homes that cost more that $100,000 to $200,00 or more. These homes can be purchased and placed in a community and in some subdivisions. Manufactured homes are not allowed on all property in all areas. There are zoning laws and other restrictions that prevent the placement manufactured home in certain areas. You will have to check the ordinances in your area to get the exact locations that allow manufactured homes.http://homebuying.about.com/cs/manufmakers/a/manufacturedfaq.htm

A manufactured home is what was previously known as a mobile home or trailor. A modular home need a building permit but a manufactured home does not as they are built before they are put on the home site.http://www.census.gov/const/mhs/FAQs.pdf All manufactured homes are governed by the building codes and standards of the Department of Housing and Urban Development (HUD). Manufactured homes sometimes have wheels and axles on the bottom. Modular homes do not, they are built wall by wall in a factory and transported to the home site and assembled. http://reversemortgage.bankofamerica.com/details/info-and-advice/reverse-mortgage-glossary.aspx

Before you start looking for manufactured home to buy, you will need to know how you are going to pay for it, if you see one you want to purchase. The first place to look is at your bank, they can offer you financing and they may have some foreclosures that you'll want to take a look at. Just like buying a home that was built on site, there are several requirements you need before you can buy a manufactured home.

Here are some of the most important items to have prepared when you are ready to buy your home:

1. You will need to have a down payment of 5 to 10 percent of the asking price of the home. Some lenders may expect a larger down payment if you have bad credit which will put you in the high-risk category.
2. Unless you buy a manufactured home that is already set up, you will have to have some land and a location for the home to be moved to. If you do own land, you qualify for a traditional mortgage loan.
3. Gainful employment is necessary if you want to get a loan. You have to show the lender that you make enough money to make the monthly payments in addition to the bills and payments you already have.
4. Closing costs, inspections, land rent and insurance are just a few of the fees and bills you will have when you make your purchase.
5. Proof of income and the debts owed out of that income. There must be a favorable income to debt ratio or you may not be approved for a loan.http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea06.shtm

After you have all of the necessary documents and enough money for a down payment, you can go on your search for a new home with greater confidence and you will be prepared when you find a home you are interested in.

You can look in the yellow pages to find dealers, or, if there are any in the area, most of them are easy to recognize when you see the homes on display in the lot. After you find a few locations that you want to visit, you can take a leisurely tour of the homes that are there on the lot. If you do not see a home in the style you like, you can get details and floor plans of other homes and styles available for sale.

Check with the Better Business Bureau to see if there are any complaints on file against the dealership before you go there to look for a home. The dealership you choose to buy your home from should have a record that is free of unresolved complaints. If there are too many complaints, you should look at another manufactured home dealer to buy your home home.

When you find a dealer you want to buy your home from, you can choose the square footage, the floor plan you want and any extras you can afford. Some of the homes with a low $30,000 asking price come standard with:

1. Custom, built-in cabinets
2. Sunken tubs with whirlpools,
3. Decks and patios
4. Walk-in closets
5. Fireplaces
6. Built-in bookshelves
7. Extra built-in storage
8. Stained glass and more features

After you have seen a few homes in several places, you will probably find one you want to purchase, that also fits your budget. If you do not have money for a down payment and you do not own your own land, you will need to get financing to make the down payment, closing costs and other initial payments.http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea06.shtm

Most cities and towns have a manufactured home dealership selling homes somewhere close by. Take a drive around and look for a dealership near you. When you see find a business you want to take a closer look at, take a look around and if the property is not well kept, this may be a sign of their business practices. Do a search on the BBB website and check for complaints on anyone you choose to do business with.

Another option for finding a home is to take a look at subdivisions. In a subdivision, you can get a home already put in place with the plumbing and electricity connected and fully functioning. This will eliminate your responsibility and the expenses you would have if you buy a home from a dealership and have it pinned and installed on the property. There are a lot of rules that you must follow and there are some fees that are due based on the services you will require.http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea06.shtm

Lawn maintenance, garbage disposal and delivering your mail from the post office may all be considered services which will mean extra fees you will owe every month. When you see a subdivision with manufactured homes and you want to join the community, there are a lot of questions you should ask before you make a commitment. Make sure you get these answers before you sign a lease:

1. Who is responsible for lawn maintenance and trash removal, if you are responsible, ask about the cost.
2. Ask for a list of all of the rules and regulations.
3. Are pets allowed, if so, is there a fee.
4. How much will it cost if you move your manufactured home onto their land.
5. How much is the rent amount, including all fees and dues.http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea06.shtm

If you cannot find any dealerships in your town, you can get a list of dealers from the Internet and in local newspapers. You can find some real bargains and it doesn't matter if you buy a used or a new home.