Manufactured Housing Installer Bond
What Is a Manufactured Housing Broker or Retailer Bond?
The Texas Department of Housing and Community Affairs (TDHCA) regulates the manufactured housing profession in the state.
TDHCA requires all manufactured housing brokers and retailers to receive sufficient bonding. Obtaining a license to sell manufactured homes or participate in the market as a broker between buyers and sellers remains contingent on this bond.
Bonds also help protect your clients and can act as a powerful marketing boost, given the dependability they signal to your clients.
Purchasing Your Manufactured Housing Installer Bond
1. Click the Buy Now button.
2. Fill out the easy bond form.
3. Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
4. Pay for your bond.
5. If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
How Much Do These Bonds Cost?
The $50,000 bond requirement imposed by the TDHCA on brokers and retailers does not mean that these businesses must hold $50,000 in cash.
Instead, brokers and retailers will pay an annual fee, usually just a few percentage points of the $50,000 amount.
The cost of the bond starts at $500 however the exact cost depends on the broker’s personal credit score and history of ethical violations.
How Do These Bonds Work?
TDHCA requires brokers and retailers to go through the bonding process to ensure that any violations of ethics or regulations will result in compensation for the affected party.
Both brokers and retailers must obtain a $50,000 bond.
In this case, the obligee would receive payment for successful claims against the bond. The surety company would then satisfy this payment and pursue the principal for repayment.
More Information
The Texas Manufactured Housing Association (TMHA) monitors the market for manufactured housing in the state.
According to TMHA, retail sales continue to grow in the state of Texas. Both singles and multis saw growth in 2022 over 2021, particularly for November 2022 sales.
Used sales of single manufactured homes also grew in 2022 over 2021 in the month of November.
The Texas Manufactured Housing Association (TMHA) monitors the market for manufactured housing in the state.
According to TMHA, retail sales continue to grow in the state of Texas. Both singles and multis saw growth in 2022 over 2021, particularly for November 2022 sales.
Used sales of single manufactured homes also grew in 2022 over 2021 in the month of November.
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Frequently Asked Questions
It’s a legally binding contract that you must sign to obtain a surety bond. The agreement guarantees that if you cause bond claims you will pay them in full.
For most bonds, you can get instantly approved and print bonds at your home or office. However, we do not offer instant approvals for a select number of bonds, as the underwriting process generally involves a more extensive review of the applicant.
For the most part, yes. Bad credit can increase rates for license and permit bonds and most can also get approved for fidelity bonds regardless of credit. For contract bonds, larger contractors with poor credit can be approved with strong CPA-prepared business financials.
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!