Frequently Asked Questions

What are today's manufactured Homes like?

Many of today’s manufactured homes feature innovative designs and custom home features like state of-the-art kitchens, luxury bathrooms and wood burning fireplaces. Cove offers a variety of home types in amenity-rich communities, which include heated swimming pools, spas, tennis and pickle ball courts, golf courses and a plethora of activities and events – the same features you might find at a resort. The options for today’s consumer are much like you find in today's traditional resort-style communities.

Is there financing available for manufactured homes?

Just as there are choices when you buy a site-built home, there are financing options for purchasing a manufactured home. When you purchase a home in a land lease community, the home will probably be financed as a personal property manufactured home loan. In the U.S., FHA-insured and Department of Veterans Affairs-guaranteed (called FHA and VA) loans are available to manufactured home buyers. These types of loans may offer lower interest rates or lower down payment requirements if available in your area. There are also new programs starting, like Freddie Mac's CHOICEHome pilot, because the quality of manufactured homes allows them to be treated as real property in the same manner as single-family site-built homes.

In-House Financing Available in Canada

Cove Communities - Canada is now offering easy access to In-House Financing and we have introduced a new Rental Conversion Program for all of our Canadian communities.

In Canada, there are also a number of lenders that offer EZ bank financing and you can find out if you qualify without impacting your credit score. You may be able to purchase a manufactured home with as little as 5% down at a low starting rate if you have a maximum of a 42% debt to income ratio and 600 or higher credit score.

Call us at 1-833-203-0755 or email (info@covecommunities.com) today and we will put you in touch with a Cove Home Sales (Cove Homes1) professional to learn more about how you can purchase your dream home and learn more about about possible financing options.

What is the quality of a manufactured home?

PRACTICAL BUILDING PRACTICES CREATE PRACTICALLY PRICED HOMES.
Many people can’t believe the low costs of owning a manufactured or modular home. Some chalk it up to low quality — when it is actually the opposite! Manufactured and modular home builders are extremely efficient and follow rigorous national standards for safety, installation and construction. The homes they build come with the right mix of features, affordability and contemporary designs that today’s homebuyers are looking for.

Here are three factors that make manufactured and modular homes more cost-efficient:

Controlled Environment
Homes are built indoors, keeping them safe from harmful weather. This improves quality — and saves time. No weather delays means no costly delays in the project.

Professionals On-Site
Because all houses are built in one place, all the experts are in one place. There is no need for expensive travel costs or scheduling issues.

Less Waste
At an on-site build, any leftover material usually ends up in the dumpster. With manufactured and modular homes, all quality odds and ends are saved for future projects. This saves the builders money, lowering overall costs, plus keeps more items out of the landfill.

It is important to remember that the affordability of manufactured and modular homes is not a product of lesser quality, but rather the efficient manner in which the home is constructed — a savings that is passed on to the homebuyer.

What are land lease communities? Are there benefits?

Understanding land leasing with Cove Communities is simple: You own the home while Cove Communities owns the land. This allows many customers to afford home ownership in a location or at a time in their life when they didn’t think it possible. Below are other benefits you’ll enjoy from living in one of our land lease communities.

More Money In Your Bank Account
Less money down, and less spent on a house and land payment, means more money saved. This can open unlimited possibilities. Use that extra cash to travel, upgrade appliances or furniture, or simply invest wherever you’d like. Enjoy more financial freedom.

Live Where You Want
In many areas of the country, living costs for prime real estate is outrageous. Land lease properties allow you to live in higher-priced areas without the higher prices.

Additional benefits to living in a land lease community.

Low Taxes
Because you don’t own the land, you don’t pay the usual high real estate taxes; in many cases you will owe a small annual tax on your manufactured home. In some communities you may pay a minimal pass through tax. In all cases, the investment is much less than traditional real estate taxes.

Gathering Spaces
Land lease communities feature resort-style amenities such as swimming pools, community and fitness centers, boat ramps, sports courts and offer a myriad of activities. These not only bring people together, but also add value to your home or vacation home and make living in the community even more welcoming and enjoyable.

Everything’s Covered
Land lease communities come with site rent. This monthly payment not only covers maintenance for the beautiful community in which you live, but use of all community amenities are included as well.

Contact us today to learn more about living in one of Cove's land lease communities.

Are manufactured homes more vulnerable to damage from tornadoes and hurricanes?

Manufactured homes perform as well as site-built homes during a storm. The fact that we hear more reports of damage to manufactured homes from tornadoes is largely due to the fact manufactured housing is mainly found in rural and suburban areas where tornadoes occur more often.

As to hurricanes, valuable lessons were learned from the devastation of Hurricane Andrew in 1992, which destroyed or damaged so many site-built and manufactured homes. Now, in areas prone to hurricane-force winds, the standards for manufactured homes are equivalent to or more stringent than the current regional and national building codes for site-built homes in these high wind zones. These new standards were put to the test when hurricanes struck Florida in 2004. The result was that not one manufactured home built and installed after 1994 was destroyed by hurricane force winds. Also, proper installation and anchoring of the home is a key element is how a manufactured home will perform in severe weather situations (MHI FAQ).