Will USModular Provide Assistance with Financing a Custom Modular Home in Porterville?
Yes! USModular has formed relationships and partnerships with competitive banks that specialize in the in prefab property manufacturing. These trusted financiers provide several types of loans, from construction-based to permanent and mortgage loans.
USModular banks can offer unbeatable finance options for modular new home projects in the local Porterville area. Financing options are available for:
- Construction to permanent loans (mortgages)
- Vacation homes
- Stated income for self-employed
- Competitive rates for new modular homes
- Short term construction loans
- Competitive rates for new modular homes
USModular works with financiers that credit and appreciate the proficiency and quality provided to homeowners. These banks stick to our specialized time schedule and will work just as effectively to get your new modular home project finished on schedule!
What are Some Differences Between a Construction Loan and a Mortgage?
A construction loan is a loan in which the money are used to support construction of a home, Business building, or other building type. Repayment is generally based on aspects that can only occur when the project is being built.
It is because of this that certain stipulations of the loans are subject to more sever monitoring and more specific guidelines to ensure the project is finished so repayment can begin. Usually, construction loans are short term.
A mortgage is a long term loan written up for a period of 15 – 30 years that warrants monthly payments. A mortgage is consists of 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!
