he Idaho Statesman reports from Boise’s Adam Hiaring, assistant manager at a Clayton Homes dealership, that customers have been able to buy a house on layaway, saving up a down payment while locking in the price and mortgage rate, since March of this year. Hiaring says sales have been good because of the shortage of homes for sale in the Treasure Valley, noting a customer could have the land and a home to set on a foundation for around $120,000. “Right now, business is as good as it’s been in five or six years,” he says. “Sales are up 300 percent over last year.” He says he has sold 49 homes this year, and that Clayton will lock in a rate of four to 4.25 percent on a 30-year mortgage with a 3.5% down payment. “All money is refundable if the customer doesn’t go through with the home purchase.” In addition, buyers of Energy Star homes will receive a $500 credit from Idaho Power. MHProNews understands Clayton Homes is the largest producer of manufactured homes in the country.
(Image credit: Clayton Homes)