• Pay the down payment on a home of your own?
     • Get out of debt and reduce monthly payments?
     • Start/ invest in a business?
     • Get job training and improve your income?

Buying a home has long been a way of investing your money for a good, anticipated return on your investment. In the last few years, the return on investment has been very good. During that same period, manufactured homes have experienced almost the opposite trend. The reasons are not hard to figure out.

At Smart HomeLease, we have been working to create financing for manufactured homes (MH) that brings MH's on a par with site build homes in terms of returning equity. The HomeBuyer's Account is our latest addition to our finance program. It represents a significant step forward, and is anticipated to create an environment in which MHs will hold their value, enabling a homebuyer to get equity out of the home on resale.

The HomeBuyer's Account's primary purpose is to save up a down payment to purchase the home at lease end.  This is where the HomeBuyer's Account is most effective. If you purchase the home at lease end, qualifying for a loan, the HomeBuyer's Account is used to make the 3-10% down payment. An even higher down payment reduces your interest rate, lowers your monthly payment, and if you maintain the higher payment you've been paying with Smart HomeLease, it enables you to pay off your home faster. A MH is low enough in price, that steady additions of cash above your payment can enable you to pay off your home in as little as 5-10 years. Imagine owning your own home free and clear!!

The HomeBuyer's Account's secondary purpose is to enable Smart HomeLease customers to accumulate equity that may turn into cash on resale. This allows a lessee to jump into the homebuying arena, opening a HomeBuyer's Account with as little as $650 down. During the lease, they work to protect and improve their investment in the home, them help us show and sell the home at lease end or at whatever point in the lease that they need to move. If the home is unable to sell/lease for what they paid for it, this loss is deducted from their HomeBuyer's Account. If it sells for more than what they paid for it, they get the amount in the HomeBuyer's Account PLUS the amount over their selling price that the home brought in on resale.