Magnolia Estates has been selling durable and affordable manufactured homes in Brookhaven Mississippi for over 20 years.
As an exclusive Southern Energy Homes Dealer, we lead the way with innovative floor plans, designs, colors and trends. Our manufactured homes are the strongest, safest, and smartest choice on the market.
We have dozens of mobile homes at our Brookhaven, MS location, and our expert sales team can assist you in credit restoration if needed. Contact us today for a no-pressure consultation.
Manufactured Home FinancingPre- Qualification Credit Application Brookhaven
At Magnolia Estates, we have fifteen different banks and lenders that we can use. Our sales staff will work hard to get you the best rate available for manufactured home financing. There are many types of home loans. Below are explanations of the most common.
Chattel or Home Only Loans
This is a loan for a manufactured home that is not affixed to real estate. This means that this is a personal property loan for a mobile home. This loan is most common when the home is located in a mobile home park, on family land, on leased space, or even when it is located on your own land providing you are not affixing the land and home together in the loan.
Land and Home Loans or Conventional Mortgages
When you finance your home and land together you would use this type of loan. For example, you are purchasing land and a home and would like finance them under one loan.
With this type of loan, the bank will give you down payment credit for the equity in the land that YOU own. In order to use this type of loan, the land must be owned by you and in your name.
Manufactured Home Buying
The manufactured home buying process can be confusing at times. We are here to assist you with all of your questions and concerns. Below is some information that you may find helpful when making your manufactured home buying decision.
- Property can be owned, owned by family or friend, or leased.
- We have lots available for lease or purchase.
- Always check zoning requirements for your county or city.
- Make sure utilities are available to your home site.
- In some cases, your home can be placed in a flood zone.
- If you are not on community sewer, you will need an approved Waste-water Treatment System. We have a list of preferred contractors if needed.
- The State Fire Marshall has site prep requirements for manufactured homes. For a diagram of these site prep requirements, please click on the link to the side.State Fire Marshall Site Prep Requirements
- We will do a site inspection to assist you with site preparation and accessibility.
Manufactured Home Insurance
All finance companies require homes to be insured. By law, your finance company must escrow your manufactured home insurance and taxes in with the home loan. At the loan closing, your first year’s manufactured home insurance payment will be due. After this, your insurance will be escrowed. This means that the finance company will collect the money from you monthly and save it in a trust. At the time of renewal, they will pay the insurance for you. Here at Magnolia Estates, we offer homeowner’s insurance. We are a licensed insurance agency. We represent several insurance companies that specialize in manufactured housing insurance. Your sales representative and our insurance agent will guide you through this process should you choose to purchase your insurance from us.
If you have any questions regarding insurance, please call or send us a message using the Contact form on our Contact page.
Manufactured Homes Service
At Magnolia Estates, our manufactured homes service department is top notch and always willing to assist you with your service needs. We want you to be completely satisfied when you purchase manufactured homes from us. If you have any service issue, please contact your sales representative or anyone in our office. We will gladly help you with your service needs. If you have an after hours emergency (i.e. water leak, electrical problem, heating or air conditioning problem), please call our AFTER HOURS EMERGENCY number.
AFTER HOURS EMERGENCY
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Frequently Asked Questions
Do you accept trades?
Absolutely! We will give top dollar for your trade-in.
Can I use my land as a down payment?
Yes. Property must be Deeded in your name.
Do you sell used or repossessed homes?
Yes. We sell repo’s and trade-ins.
What is the difference in a modular home, manufactured home, and mobile home?
Mobile Homes – These are the houses built prior to 1976. The building standards and codes were voluntary at this point.
Manufactured Homes – After 1976, Manufactured Homes were built. These homes are constructed according to federal codes administered by the U.S. Department of Housing and Urban Development (HUD Code). The HUD Code requires manufactured homes to be constructed on a permanent chassis (the steel frame under a manufactured home). The code also requires manufactured homes to meet regulations such as: construction, transportability, fire resistance, energy efficiency strength, and quality. Here at Magnolia Estates, we are dedicated to quality: our new homes exceed the federal codes.
Modular Homes – are are homes constructed to the same state, local or regional building codes as site-built homes. There is very little difference between a “high end” manufactured home and a modular home, with the biggest difference being the set-up. Modular’s require a concrete foundation. This type of foundation is not required for manufactured homes, but we recommend it.
How do we get our home financed?
Leave it to us to get you the best rate possible. We will submit your loan application to multiple banks and let them compete for your loan. We deal directly with 15 different banks and mortgage companies. No brokers means no broker’s fee.
Who does the warranty and service work?
All of our new homes come with a minimum one year Factory Warranty. This warranty covers electrical, plumbing, structural, and mechanical materials and workmanship. Here at Magnolia Estates, we use a team approach between the manufacturer and our service staff to ensure your work is done in a thorough and timely manner.
Can I still buy a home if I have bad credit?
Every situation is unique. Come talk to our dedicated sales staff. Many of our finance companies offer programs for people with low credit scores.
What is included in the price of my new home?
All new models include delivery and set-up, HVAC (heat and air), temporary steps, installed skirting, and kitchen appliances.
Can I file for Homestead Exemption?
Yes. Contact your county or parish. Filing periods are normally January 1st thru April 1st each year.
Do manufactured homes depreciate or lose value over time?
A manufactured home will not lose value just because it is manufactured in a factory. All homes will lose value if not properly maintained. The homes we sell at Magnolia Estates are quality homes, but like all houses, they require maintenance. A few examples of this maintenance are as follows: changing filters, keeping siding intact and clean, and making sure doors and windows are secure and replaced when broken. Most homes increase in value when home improvements such as landscaping, driveways, carports, garages, and porches are made. Another way to increase your home’s resale value is to put it in a desirable location. Location is key to increasing your resale value.We have had customers that purchased a home from us and then, sold it for more that they paid for it new. In these cases, the customer did not move the house. They sold the land and home together. Anytime you move a house, weather it is a site built house or a manufactured house, it is expensive and can affect the resale value of your home.