Housing Wire
FEBRUARY 7, 2024
It also recommends that the GSEs launch a “Home-Only loan pilot, [and to] consider adding any additional consumer protections, include a standardized land lease, and homebuyer education and counseling,” the document explains. Better loan products to serve “high-needs rural regions” should also be developed.
Redfin
AUGUST 19, 2022
It’s a legal term that means the property owner owns the land and any structures on the land, including the home. Fee simple owners can build equity over time. The leaseholder pays the fee simple owner to use the land for a set period. You might also see this called a land lease or ground lease.
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Housing Wire
JULY 18, 2024
With Todman’s emphasis on mission-driven entities and nonprofit access to the program, Gooch said its portrayal was needlessly negative toward private owners of land-lease communities, where many MHI-backed manufactured homes are ultimately placed. That’s why I find it interesting.
Redfin
AUGUST 31, 2023
This includes preparing the land for the mobile home, including leveling, grading, and clearing. Land lease fees. As the home gets older, its resale value may decline, making it more challenging to build equity. Site preparation. If you place your mobile home in a park or community, there might be a monthly or annual fee.
HomeLight
MARCH 24, 2023
You may want to cash out the equity in your home to purchase your retirement property, or you may prefer the flexibility of renting if you plan on being a snowbird or traveling around the world. Some communities have a land-lease structure in which you purchase the house, but lease the home site.
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