modular home
modular home
modular home
modular home
modular home
modular home

Modular Homes

What are they?

Modular homes are customized houses built offsite in a climate-controlled factory. Individual sections are then transported to the property and assembled on a permanent foundation.

Pros:

  • Sustainable Construction
  • Affordability
  • Speed
  • Traditional Mortgage Options
  • Highly Customizable
  • Energy Efficient

Cons:

  • Land: if you’re building a modular home from scratch, you’ll need to buy and prepare land before your can install your home
  • Zoning Restrictions: Many cities either have outdated or an absence of zoning codes, which can make finding appropriate land difficult
  • Upfront costs: While a manufactured homeowner could just rent land with no upfront costs, you’ll need to prepare to spend more upfront. Preparing the land alone may cost $4,000 – $11,000 between surveying and excavation work.
  • Construction loan: You’ll likely need a construction loan to afford the manufacturing of your new home.

How to buy a manufactured home

  1. Find the manufacturer you want to buy from
  2. PREQUALIFY. Modular homes are financed the same as a stick-built house, so once you are approved, our team will help you understand the best financial strategy for you!

Additional restrictions, requirements and underwriting conditions may apply. Speak with your loan officer for details.

Interested in financing a modular home? Contact us today or Get Started here.