FAQ – Frequently Asked Questions

Home About Us FAQ – Frequently Asked Questions

FAQ’s – Frequently Asked Questions

There are many questions surrounding the purchase of a new home and, here, on the Frequently Asked Questions page we try to answer some of the most frequently asked ones. 

Frequently asked modular home questions

Where is land available?

We have three full-time real estate brokers on staff that will be able to find land anywhere in Central Texas. If you’re interested in a manufactured community, Village Homes had built one in Bastrop County called Forister Ranch with beautiful one-acre lots that has sold out. And yet another mobile home community called Great Hills in Buda. Another one is always in our development plans and we announce those on our home and land packages page

How much down payment do I need to purchase a new home?

Down payments can vary from as little as $0 down up to 35% down depending on a number of factors like credit score, time on job, debt to equity ratio, etc.

If you schedule a financial review with one of our Home Consultants, we will help you figure out how much money you need down to buy a home. As well, you will also learn how much you qualify for.

One of the advantages of Village Home is that we have on-site lenders and financing experts to answer all your questions. We work with all credit scores, DTI’s and income types. 

And, we have eight+ lenders and offer in-house financing.

What credit score do I need to qualify for a new home?

Credit scores are only a one factor in determining what loans you qualify for. Lenders look at so much more than just credit now-a-days. For example, they look at job history, income, and assets. 

To figure out if you can qualify for a home, schedule a financial review with a Home Consultant.

How long does it take to get into my new home?

The time it takes to get into a new home varies depending on a number of factors such as: if you have land, if that land has improvements (septic, water, electric) on it, if you place a special order from the manufacturer, if you choose a home that’s in stock or on order, and lastly, if you’re paying cash or financing.

It can take as little as 30 days if you already have land and up to six months if you don’t have to order a new home. 

The good news is if you choose one of the hundreds of homes on order and are financing, your timeline could be as short as 60 days.

Do I have to buy land when I buy my new modular, manufactured home?

No, you don’t have to buy land with your home. You can buy just the home or a home with land. Some people put a new manufactured home on their own land.

Since we have real estate brokers on site, we can find you the land, if you need it. But, it it’s not required to buy land when you buy at Village Home. It’s your decision.

Is a down payment required?

It’s different for each individual or family. At Village Homes we offer many different financing options. Most lenders require a minimum down payment of 5 percent but we have down payments starting at zero down depending on which loan program you’re approved for. To get specifics for your family, fill out a contact us form for an appointment. We can’t wait to help you get into your dream home!

If I put a deposit down on a house and then change my mind, can I get a refund?

Yes, so long as your deposit hasn’t been used for improvements, you can get your full deposit back.
Step 1: Call your Home Consultant to request refund.
Step 2: The following Friday you can arrange a time with your Home Consultant to pick up your check.

I have a low credit score, do I have any financing options for me?

At Village Homes you are more than just a credit score. Our experience has taught us that bad circumstances happen to the best of people therefore, we offer many financing options to our customers. In addition to traditional financing, we also offer in-house financing (2nd Chance Financing). We take into consideration your job, rent history, and a reasonable down payment in order to get you qualified. Set up an appointment with one of our on-site Home Consultants to design a home just for your family. Take the next step today to move into your new home, fill out the contact us form, to set up your VIP Financing appointment.

How much income do I need to buy a home?

Forty-three percent of your income can go to housing, credit cards, cars, and other bills. Check out the green colored mortgage calculator, found on the right hand side of our website, to run some numbers yourself. Or, try the 21st Century Mortgage Estimator.

Can my monthly payments be adjusted seasonally as my income varies at different times throughout the year?

Yes, it’s possible to adjust your monthly payments depending on individual requirements. Over the last 30 years, Village Homes has helped thousands of people find a payment plan that’s right for them. Fill out the contact us form, or call for an appointment to meet with our financial staff to discuss your unique requirements. Don’t worry. We’ll help you find the right solution for your family.

What other requirements factor into buying a home?

Besides your credit score, steady work history, work in the same field, and assets, are all major items.

Does Village Homes work with homeowners who need housing after a flood?

Yes. Village Homes can help homeowners who have become displaced after a flood. Some homeowners have bought a manufactured home to put on their land while their site built house is being repaired and later sell the manufactured home as they don’t need it anymore. Yet others, just need another home because their manufactured home was damaged by a flood

Village Homes
17325 Camino Real (Hwy 21) Mustang Ridge, TX 78616 • 512-385-9700 RBI#3223