Financial Info

Today more and more people are considering building new homes rather than buying homes that need to be renovated. Modular home construction uses new construction home loans but, because modular construction is faster, the length of the loan is shorter.

A new construction loan for both modular homes and traditionally built homes is a short-term loan used to finance the building of a home. The money is advanced to you to cover construction costs as work progresses. So, you get the money in installments. As money is paid out to you, you pay interest monthly only on the funds that have been disbursed. This loan type is very popular with families and individuals. When the construction phase of a new home is complete, this loan is paid off with permanent financing.

Need help with your financing? Contact one of our qualified associates to get the service you deserve combined with the best available rates on the market today.

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