Financing

We will help you determine your home building budget and learn more about financing opportunities. There are so many options when it comes to financing your new home. At Real Real Estate Holdings, Inc. we have a working relationship with select lenders to facilitate financing for your next investment, vacation or primary modular home.

At Real Real Estate holdings, inc. many new modular home loans are construction-to-permanent loans that follow a general template similar to any new home purchase.

During the financing process, home buyers can expect to proceed through the loan application and underwriting stage just as they would for any other new home purchase. The appraisal process is also similar; in fact, a home appraiser is not limited by construction type when determining the value of your home. Comparables to your new home may likely be similar to site-built homes with comparables square footage and design features.

When your modular home is being constructed, money is disbursed to the builder/contractor in the same manner as it would be during any new home construction process. During construction, the borrower will typically make interest-only payments to the lender on the founds as they are disbursed. This is one of the greatest advantages of modular housing because the construction time frame is reduced during the financing process. Additionally, modular-friendly lenders will offer special funding options upon the scheduled delivery of the modular units to the building site.

If you have a construction-to –permanent mortgage, your lender will send a modification package to convert the loan after your home is constructed and the final home inspection is complete. Once the mortgage is closed and the closing costs are paid, you officially own your new modular home and begin making regular mortgage payments.

Find out how much you really can afford and discover how easy it really is to own your own home.