Will USModular Provide Assistance with Financing a Custom Modular Home in San Marcos?
Yes! USModular has reputable relationships and partnerships with competitive banks that specialize in the in the custom prefabricated property manufacturing industry. These trusted financiers provide several types of loans, from loans specifically for construction to permanent and mortgage loans.
USModular banks can offer excellent financing for modular new home projects in the local San Marcos 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 financiers that value and appreciate the efficiency and quality provided to homeowners. These banks stick to our specialized time schedule and will work just as proficiently to get your new modular home project finished in good time!
What are Some Differences Between a Construction Loan and a Mortgage?
A construction loan is a loan in which the loan capital are used to pay for 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.
It is because of this that certain parts of the loans are subject to meticulous monitoring and more specific procedures to ensure the project is finished so repayment can begin. Usually, construction loans are short term.
A mortgage is a long term loan established over a period of 15 – 30 years that warrants monthly payments. A mortgage is consists 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!
