Modular Homes

Modular Homes are built in sections, in a factory and then carried over to the building site where they are assembled on a foundation.

It is important to appreciate the difference between modular homes and a manufactured home. The two terms are sometimes used interchangeably, which can be very misleading.

By contrast to a Modular Home, a manufactured home is normally built to the Federal Construction Safety Standards Act and referred to as HUD approved. This code requires homes to be constructed on a steel frame and are typically built in box-like sections and transported to the site where they are anchored to a permanent foundation.

Some communities have zoning restrictions on Manufactured Homes, so you need to check with your local authorities to find out if such restrictions apply to your community.

A further complication with manufactured homes is the fact that most lenders will not loan on them, limiting your choice of lenders. Lenders that do finance manufactured homes will require an appraisal of the property that will use other manufactured home sales in the area as comparables.

We DO NOT finance Manufactured Homes

We DO finance Modular Homes - up to 100% in many cases!

Modular Homes have no such restrictions. They are treated just like a conventional stick built home by local authorities, construction lenders and mortgage companies.

Advantages of Modular Homes:

- Highly engineered

- Generally lower cost per square foot.

- Built in a factory environment, eliminating timber warp resulting in improved fit.

- Efficient building process and material usage saves on costs and material waste.

- Speed of construction cuts down the time frame tremendously, yielding interest savings on your construction loan.

- Built to meet or exceed local standards

Negatives for Modulars

- There are very few negatives to a quality-built modular home. The key, in our opinion, is to work with a quality modular home company that can offer both pre-designed plans and fully custom designed plans that are well-built and reasonably priced.

Construction Loans for modular Homes

Construction Loans are first and foremost reimbursement loans. This means that the construction lender makes payments as various stages of work are carried out.

A modular home is delivered to the site in one delivery. Typically, manufacturers require a deposit prior to beginning work on your home and will want final payment upon delivery or right after. We have several loan programs available to finance modular home construction, depending on the customer's qualifications, owner-builder or use of a GC, and down payments desired. Several of our programs include "pre curb-side funding" for the home. Please contact us to discuss your needs and we will assist you in securing the best financing for your situation.

Hire a Contractor or Be your Own!

Financing for Land, Materials, Labor, Permits & Closing Costs/Fees.
New Construction AND Rehab/Remodel programs available.
Full Doc Only.
Low Construction Loan Rates.
Competitive Permanent Mortgage Rates.
NO payments while you build!
up to 12 month construction loans with some options.
One-time closing (construction to perm loan all in one).
Land Payoffs (including land contracts).
24 hour pre-approval with no application fees.
Sale of current home not required to start building.