Financing Modular Homes for the most part is considered to be the same as a traditional stick-built home. Modular Homes and stick-built homes are permanent structures and will appreciate in value over time, but there are some small differences when financing a modular home.
Approach a mortgage company that has experience with modular home construction. If you go to a company with no Modular Home financing experience you may encounter some headaches as the inexperienced mortgage company tries to learn about modular homes. An inexperienced mortgage company may try to fit your new modular home project into one of their predesignated loan packages instead of having the proper loan for you and your new modular home.
As with buying a traditional stick-built home a modular homes may have a fixed interest rate or an adjustable one for the life of the loan. Once your loan is approved you may have up to a year to construct your new home. This will be plenty of time since most modular home construction may only requires a couple months.
Veterans and military members can look to use their hard-earned VA loan benefits when purchasing a modular home. Whether the home is brand new or existing a modular home needs to be affixed to a permanent foundation and classified as property in order to be eligible for a 30-year VA loan. You will also need to conform your home and builder with the VA’s Minimum Property Requirements. We recommend that you approach several mortgage companies to find the best one that suits your needs.
We are proud to do business with the following associates:
Financing Modular Homes Partners
Michelle A. Rae
Vice President – Mortgage Loan Originator II
428 Main Street, Towanda, PA 18848
MichelleR@cnbankpa.com
Phone: 570.268.3034
Fax: 570.265.9196
https://www.cnbankpa.com
Mortgage Loan Originator #145697
Rachel N. Wiernusz
Mortgage Loan Consultant, NMLS#1288569
64 N Franklin St, Wilkes-Barre, PA 18701
Phone: 570.970.1835 | Fax: 570.821.8564
rachel.wiernusz@cbna.com
Above all, Kintner Modular Homes focus is on providing Pennsylvania and New York customers with a quality modular home and professional services before, during, and after the sale. From pre-construction planning through our in-house service department, ease and comfort is achieved by our talented team members. The entire team is committed to building a better house and enhancing your building experience. You are not just buying a house; you are buying a Kintner Modular Home.