Does USModular Provide Assistance with Financing a Custom Modular Home in Santa Ana?
Yes! USModular has reputable relationships and partnerships with competitive lenders that specialize in the in the custom prefabricated property manufacturing industry. These trusted lending institutions offer many loan types, from loans specifically for construction to permanent and mortgage loans.
USModular lenders can offer unbeatable finance options for modular home projects in the local Santa Ana area. Financing options are available for:
- Stated income for self-employed
- Competitive rates for new modular homes
- Loan terms up to 30 years
- Short term construction loans
- Vacation homes
- Competitive rates for new modular homes
USModular works with lending institutions that credit and appreciate the efficiency and quality provided to homeowners. These lenders adhere to our streamlined time schedule and will work just as proficiently to get your new modular home project finished promptly!
What is the Difference Between a Construction Loan and a Mortgage?
A construction loan is a loan in which the loan capital are used to support construction of a home, Professional building, or other building type. Repayment is generally based on contexts that can only occur when the project is being built.
Because of these factors, certain parts of the loans are subject to more sever monitoring and more specific restrictions to ensure the project is finished so repayment can begin. Construction loans are generally meant to be short term loans.
A mortgage is a long term loan established over a period of 15 – 30 years that requires monthly payments. A mortgage is comprised of loan principal and interest, property taxes, and collateral. The house itself is used as collateral in a mortgage.
Visit our site for more information on financing your modular home!
