FAQ

Below you will find a list of frequently asked questions. We invite you to visit with us so that we can explain in further detail how the process of buying a home works.

Ruby Slippers Homes appreciates our customer and will help you in every way we can with your home purchase, making your experience as stress free as possible. We want you to enjoy this exciting endeavor as a new home owner.

We can help you with: choosing a home that’s right for you, financing, insurance, land, permits, elevations, and any improvements that you may need. We will assist you with everything from start to finish and then hand you the keys!

Once your purchase is complete–we don’t stop there. We strongly believe in “service after the sale” and customer satisfaction is top priority. So come by and “Experience The Difference!” Hope to see you soon!

Q. What is a Manufactured Home?

A. A manufactured home is one that is built in a factory. It is then transported to the home site. The wheels are usually removed, the frame stays in place. The building of manufactured home is regulated by HUD.

Q. What does the term “HUD code” mean?

A. HUD code is the factory-built home enforcement program that is required by the U.S. Department of Housing and Urban Development (HUD). It is specifically designed for the factory production of homes.

Q. What does HUD do?

A. The HUD code is what regulates the design, construction, strength, and durability of the home. Fire resistance, energy efficiency, and quality control is also monitored. Stringent performance standards for the heating, plumbing, air conditioning, thermal, and electrical systems are also set by HUD.

Q. What does “Wind Zone” imply?

A. Each manufactured home is constructed to conform to one of three wind load zones. This is determined by the area that the home will be placed in.
Wind Zone III — 110mph fastest-mile wind speed
Wind Zone II — 100mph fastest-mile wind speed
Wind Zone I — 70mph fastest-mile wind speed
All of our homes are built to Wind Zone III construction specifications.

Q. How long can I finance a home?

A. A home can be financed anywhere from 5-30 years. This time frame varies according to loan programs, credit scores, and down payment amount.

Q. What are my financing options?

A. Our lenders can finance “home only” or “land-home package” purchases. Once you pre-qualify, some of the types of financing we can offer include: FHA, VA, Rural Development, Equity Financing, Buy-for and Co-signer programs.

Q. How can I find out my credit score?

A. We have the capability of obtaining that information for you. The three main credit reporting Bureaus are: Equifax, Experian, and Trans Union. We will be happy to review your credit report with you.

Q. What should my credit score be?

A. Credit scores can vary according to different loan programs. Ideally credit scores should be above 600. For scores less than 600, we do have equity programs available.

Q. What amount is required for a down payment?

A. Down payment amounts will vary according to loan requirements starting as low as 0% down.

Q. What will the interest rate of my loan be?

A. Interest rates vary according to: term of loan (years financed), credit score, down-payment amount, and type of loan (home-only purchase or land-home package).

Q. Will I be able to get insurance for my home?

A. Yes. Whether a home is financed or paid in full, we can get you an insurance quote on all homes that we sell.