Does USModular Provide Assistance with Financing a Custom Modular Home in San Diego?
Yes! USModular has established relationships and partnerships with competitive lenders that specialize in the in the custom modular home construction industry. These trusted lending institutions offer many loan types, from construction loans to permanent and mortgage loans.
USModular lenders can offer excellent financing for modular home projects in the local San Diego area. Financing options are available for:
- Loan terms up to 30 years
- Short term construction loans
- Construction to permanent loans (mortgages)
- Vacation homes
- Competitive rates for new modular homes
- Competitive rates for new modular homes
USModular works with lending institutions that understand and appreciate the time savings and quality provided to homeowners. These lenders adhere to our streamlined time schedule and will work just as efficiently to get your new modular home project finished on schedule!
What is the Difference Between a Construction Loan and a Mortgage?
A construction loan is a loan in which the funds are used to finance construction of a home, Commercial building, or other building type. Repayment is generally based on factors that can only occur when the project is being built.
Because of these factors, certain features of the loans are subject to stricter monitoring and more specific guidelines 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 set up under a period of 15 – 30 years that requires monthly payments. A mortgage is comprised of collateral, loan principal and interest, and property taxes. The house itself is used as collateral in a mortgage.
Visit our site for more information on financing your modular home!
