What is the Available Assistance with Financing a Custom Modular Home in Inglewood?
Yes! USModular has formed relationships and partnerships with competitive financiers that specialize in the in prefab property manufacturing. These trusted lenders have several loan types available, from construction-based to permanent and mortgage loans.
USModular financiers can offer excellent financing for modular customized home projects in the local Inglewood area. Financing options are available for:
- Competitive rates for new modular homes
- Loan terms up to 30 years
- Short term construction loans
- Construction to permanent loans (mortgages)
- Stated income for self-employed
- Competitive rates for new modular homes
USModular works with lenders that understand and appreciate the proficiency and quality provided to homeowners. These financiers abide by our proficient time schedule and will work just as effectively to get your new modular home project completed on schedule!
Are there Differences in a Construction Loan and a Mortgage?
A construction loan is a loan in which the money are used to finance construction of a home, Business building, or other building type. The repayment term is generally based on occurrences that can only occur when the project is being built.
Its due to these factors that certain stipulations of the loans are subject to stricter monitoring and more specific guidelines to ensure the project is completed so repayment can begin. Construction loans are generally meant to be paid back quickly and under a short term contract.
A mortgage is a long term loan written up for a period of 15 – 30 years that comes with monthly payments. A mortgage is entails property taxes, collateral, and loan principal and interest. The house itself is used as collateral in a mortgage.
Visit our site for more information on financing your modular home!
