Getting a construction loan isn’t always easy, especially if you don’t have a strong credit rating or financial history. However, finding a loan provider for your modular home is more straightforward in the current climate than you think.
Obtaining a loan for a modular home is typically no different than applying for a loan to buy a house built on-site. However, large financial institutions have strict demands before handing out a loan, such as a specific credit score, proof of a minimum income, detailed construction plan information, residential builder requirements, and appraisal demands. If these finance sources don’t appeal to you, there is a huge range of alternative lenders that are much more favorable for building modular homes.
Choosing the Right
Lender is Key
Finding the right source for your budget is the most critical step of the process. Not only can certain lenders ease the minimum requirements for your loan, but they can also advise you on how to get value from your project. For example, they can recommend a process for sourcing land before you build.
At North Carolina Custom Modulars, we aim to attain maximum value for our customers, and we are happy to help you find financial aid. We have a list of preferred lenders that we trust to guide you through the process with as little stress as possible.
For further information on preferred lenders, contact us today.