Home Financing
Know Your Buying Power Before You Start Shopping
Financing a manufactured or modular home isn't necessarily the same as obtaining a mortgage on an existing house.
Your financing options may depend on:
Whether the home is manufactured or modular
Whether you own or are purchasing the land
How the home will be installed
Whether the home and land will be financed together
The total project cost
Your down payment
Credit history and income
Lender requirements
Some buyers may qualify for conventional mortgage financing, while others may use financing specifically designed for manufactured housing or new construction.
The important thing is to speak with a lender who understands factory-built housing.
Getting financing information early also helps establish a realistic budget—not simply for the house, but for the complete project.
Comments