Besides the government backed loans mentioned above, our modular homes also qualify for standard conventional mortgage loans. With a conventional loan, which includes both conforming and non-conforming loans, you can get your hands on pretty much anything from a 1-month ARM to a 30-year fixed, and everything in between.
So if you want a 10-year fixed mortgage, or a 7-year ARM, a conventional loan will be the way to go. Conventional mortgages also aren’t capped at a certain loan limit, assuming they are non-conforming.
Our lending partners will be able to tell you the types of loans you would qualify for, and determine which will cost less both short and long-term. Ask for a side-by-side cost analysis.