FREQUENTLY ASKED QUESTIONS AT RONCO HOMES

1. Do you have Land / Home Packages?
2. Can I buy land from you?
3. What if I own my own land?
4. What costs should I expect beyond the sales price of the mobile home?
5. Can I get my deposit back if I change my mind?
6. What protects me from unscrupulous dealers?
7. What kind of warranty do I get on a pre-owned home?
8. What kind of warranty do I get on a new home?
9. How can I be sure of the quality of a home?
10. What is the difference between a "modular" and a "doublewide"?
11. What are the property taxes in our area?
12. Can I buy if I have a fixed income (e.g. disability income)?
13. Can I buy for a son or daughter?
14. Can I buy for other relatives?
15. If I own my own land, do I have to make a down payment?
16. Can we buy together as a couple even though we are not married?
17. Can I buy a second home if I already own one?
18. Do you have a first time buyers program?
19. What does "turn key" mean?
20. Do you have VA or FHA loans available?
21. Can I trade in a mobile home if I still owe on it?
22. What is your down payment requirement?
23. How many years can I get financed for?
24. Can I use a "co-signer" if my credit is bad?
25. Can I use a "co-signer" if I have very little credit history?
26. What is a credit score?
27. What is the minimum credit score that is considered for approval?
28. Are lots / land for mobile homes available in Southeastern North Carolina?
29. What do 1/2 acre lots cost in Southeastern North Carolina?

1. Do you have Land / Home Packages?

Yes, we do have Land / Home Packages (new and used). We also have foreclosed Land and Homes available in different counties. There are two ways Ronco can assist you in acquiring your land or home.
First, Ronco maintains an inventory of used and new homes with land all ready to move into.
A second way to purchase your land or home is to select a manufactured home from our dealership inventory and we will assist you in locating a lot. We can then "package" the manufactured home with the land.

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2. Can I buy land from you?

We do not currently own any lots but we can help you locate land. We have a 25 year business relationship with several realty and land development companies.

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3. What if I own my own land?

If it is on a state maintained road, you can use it in lieu of down payment based on land value. If it is not located on a state road, we can still package it up but there may be a down payment.

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4. What costs should I expect beyond the sales price of the mobile home?

A. Sales Tax - at 2% max of $300.00 on a single wide, $600.00 on a double wide. New or pre-owned at the same rate.

B. Title Fee - $40.00 per title. Some doublewides have 2 titles.

C. Building Permits - $150.00 to $300.00 based on the county you are in.

D. Septic Tank - Average around $3000.00 to $3500.00.

E. Well - Average around $1000.00

F. Extras (landscaping, decks, garages, etc.) - We can get competitive quotes from locally qualified contractors.

G. Delivery and set-up fee - Normally included in sales price if within a 50 mile radius of Wilmington / Leland.

H. Brick vs. vinyl skirting - Vinyl skirting averages around $750.00. Brick curtain wall skirting approximately $4500.00.

I. Central Air - 3 ton central air installed averages $3000.00.

J. Electrical - averages $750.00 to $900.00

K. Steps - $400.00 and up based on what is required and height needed.

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5. Can I get my deposit back if I change my mind?

If your loan is denied you can get your deposit back.

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6. What protects me from unscrupulous dealers?

Nothing beats self-education. However, customers in North Carolina are protected by a $25,000 bond required from all dealers and customer complaints are handled by the North Carolina Manufactured Housing Board which is under the North Carolina Department of Insurance.

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7. What kind of warranty do I get on a pre-owned home?

Most used homes carry no warranty.

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8. What kind of warranty do I get on a new home?

Standard one (1) year warranty on home, limited on cosmetics. Appliances are warranted by their manufacturer for up to five (5) years. Some items on new homes are warranted by their manufacturer. For example, vinyl siding and shingles have a twenty (20) year warranty.

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9. How can I be sure of the quality of a home?

All homes today are built to Federal guidelines and most have a H.U.D. label. However, some manufacturers build far above this minimum standard. "Caveat emptor", ask questions, study specs or just ask Ronco. We'll tell you the facts as we know them.

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10. What is the difference between a "modular" and a "doublewide"?

Doublewides are constructed to meet standards regulated by the federal government agency called the H.U.D. Modulars are constructed to meet the North Carolina Building Code Standards. A modular has to be packaged with land whereas a doublewide is treated as "chattel" and does not have to be packaged with land.

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11. What are the property taxes in our area?

Pender - .64 cents per $100.00

Brunswick - .54 cents per $100.00

New Hanover - .68 cents per $100.00

Note: If you live in the city limits you have the additional property tax of that city, usually 25% to 100% of the county tax.

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12. Can I buy if I have a fixed income (e.g. disability income)?

All banks and finance companies qualify the buyer based on the amount of income net. They do not discriminate against disability income.

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13. Can I buy for a son or daughter?

Yes, some banks have programs for vacation homes, "buy for", and secondary residence. The banks usually require a larger down payment or higher credit rating from the buyer for these types of secondary purchases.

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14. Can I buy for other relatives?

Yes, some banks have programs for vacation homes, "buy for", and secondary residence. The banks usually require a larger down payment or higher credit rating from the buyer for these types of secondary purchases.

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15. If I own my own land, do I have to make a down payment?

If the value of the land is high enough you do not have to make a down payment. The land does not have to be fully paid for but you must have sufficient equity to qualify for no down payment.

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16. Can we buy together as a couple even though we are not married?

Yes, but both buyers must qualify.

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17. Can I buy a second home if I already own one?

Yes, some lenders offer secondary residence and vacation programs. They may require more money down and a higher credit score than required for primary residence.

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18. Do you have a first time buyers program?

No. All lenders require a certain credit score and income amount based on current debt you have. If you have never bought before you must still qualify on these terms. A co-signer may be requested.

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19. What does "turn key" mean?

We can sell you a home and include the well, septic, electric, plumbing, steps, central air, under pinning ready to move into including furniture. So, you can simply turn the key and move in!

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20. Do you have VA or FHA loans available?

Yes, several of the lenders we use offer FHA, VA and conventional loans.

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21. Can I trade in a mobile home if I still owe on it?

Yes, and your trade in value is based on the condition of the home and the amount owed and NADA book value.

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22. What is your down payment requirement?

Based on the buyer's credit history and loan program they are approved for a down payment as low as 3%. No money down is available on some Land / Home programs. Down payments on manufactured homes that are not packaged with land are usually around 10%. VA loans no money down!

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23. How many years can I get financed for?

Up to 30 years based on loan amount.

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24. Can I use a "co-signer" if my credit is bad?

A co-signer can be used for "insufficient" credit. If a person has "bad" credit most banks will not accept a co-signer.

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25. Can I use a "co-signer" if I have very little credit history?

Yes, if you have very little credit and it has been paid well. If you have very little credit and a bad payment history you cannot use a co-signer.

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26. What is a credit score?

Based on a person's credit history each person is given a credit score by one of three major credit reporting agencies.

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27. What is the minimum credit score that is considered for approval?

The minimum score for purchase of a mobile home without land is 660. The minimum score for the purchase of a land / home package is 660. There are some other requirements for the above scores.

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28. Are lots / land for mobile homes available in Southeastern North Carolina?

Yes, there are lots / land available for mobile homes in Southeastern North Carolina.

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29. What do 1/2 acre lots cost in Southeastern North Carolina?

Depending on the lot location, typical land costs are as follows.

Brunswick County - $20,000.00 to $30,000.00

Pender County - $16,000.00 to $25,000.00

New Hanover County - $30,000 to $40,000.00

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