Modular homes have become increasingly popular over the past few years as the cost and complexity of traditional home building has dramatically increased. If you’re thinking about buying a modular home, check out this helpful guide on everything you need to know about modular home loans, including what they are, the different options available, and why they may be the right choice for you.
Before looking for modular home lenders, it’s important to know what modular home loans are. A modular home loan is a special mortgage loan that differs from one used for a traditional “stick-built” home.
If you’re thinking about obtaining a modular home loan, here are a few options to consider.
There are several different options when it comes to financing a modular home. Depending on the type of loan you choose, your monthly payment will vary. The most common loan products offered by modular home lenders include:
Several factors come into play to qualify for a specific home loan product. But, don’t sweat it — our loan specialists here at Cascade Financial Services will walk you through each step of the modular home loan process with absolute precision, allowing you to get pre-approved and an inch closer to purchasing your very own modular home. We’ll explain everything in detail and never leave you in the dark.
We get it: There can be a lot to understand regarding modular home loans, especially if this is your first time applying. No need to worry, our lending specialists have the answers to some of the common questions asked about these products!
Complete our online pre-qualification process if you’re looking to apply for a modular home loan. This is the quickest and easiest way to begin the process of being considered for a modular home loan. Of course, if you have any questions regarding the application process or require assistance, please don’t hesitate to give our friendly team a call at (877) 408-6032; we’re here to help!
It can take anywhere from 30 to 60 days to process your loan, depending on its complexity. This is similar to the time required if you applied for a stick-built mortgage loan.
The good news is that there is no cost to apply for a modular home loan. Costs to move forward with the purchase or refinance of a home will be fully disclosed to you before moving forward.