The Purchase Price
The seller and buyer's mutually agreed upon purchase price for the Home.

The Down Payment
The size of the down payment may affect the buyer's commitment to honoring the mortgage contract. The larger the down payment the buyer invests, the stronger his/her motivation to protect the investment. In addition to making the monthly payments, the buyer's commitment to the investment would include a willingness to maintain and upgrade the property, as well as make tax and insurance payments.

The Interest Rate
At a minimum, the interest rate should match current interest rates traditional manufactured home lenders are offering for loans of the same term. Lenders may want to charge an additional percentage point as compensation for the work involved with servicing the loan.

The Buyer's Credit & Income
Lenders will review the buyer's credit history to determine the buyer's willingness to pay his/her debts. A credit report will give them a better understanding of the buyer's financial history. Red flags would include late payments and loan defaults. If a buyer has a less than commendable credit history, the lender may decide not to finance the loan or they may require a larger down payment. In addition to the buyer's credit history, they will want to review the buyer's income sources. Is the buyer's salary sufficient to make the monthly payments? Does the buyer have additional income sources that could be accessed if the buyer lost his/her job?

Amortization
The amortization period is the length during which the loan is repaid.

Escrow for Tax and Insurance
Lenders typically require borrowers to pay 1/12 of their annual taxes and insurance costs as an escrow payment due with each mortgage payment. Then, the lender makes the borrower's annual tax and insurance payment.

SOL - Statement of Ownership and Location The SOL is a statement of the information contained in the MHD (Manufacture Home Department)official record for a manufactured home. The ownership and location record of every manufactured home in Texas is now tracked by the MHD regardless of whether the home is for business use only, is salvaged, or is treated as personal or real property. Because the SOL simply confirms the MHD official record, no document of title is needed to evidence ownership. If the MHD record states that someone owns a manufactured home, that record is conclusive evidence of such until and unless the record is changed.