tchappettaJune 23, 2006

I foresee I'm going to have problems financing the modular I'm looking to purchase and put on our 40 acres. I'll be needing a construction loan for septic, walkout basement, well and the construction loan would also pay for the house and pay off the 40 acres so that it will all end up in one note. My mortgage guy is calling around and if he can find someone who will work with modulars my next problem is not being able to find a comparable - a recent sale of 40 acres with a modular on it. Have you guys encountered same problem and, if so, who ended up doing the financing for you? Thanks in advance.

Thank you for reporting this comment. Undo

Our local bank handled everything. From the bridge loan to the construction loan to the total wrap of the financing. No problems. It was handled just like a "normal" house. Which is what a modular is.

But I get the impression your mortgage guy is unfamiliar with modulars. It sounds like he has the notion thay're mobiles, which is the farthest from the truth.

    Bookmark   June 27, 2006 at 7:43AM
Sign Up to comment
More Discussions
Where to get Homeowners Insurance??
We are in the process of purchasing a vacation property...
"bathrooms stink" in 2007 deer valley dw manufactured home
We purchased a 2007 Deer Valley double wide used 2...
Super scared! Modular vs manufactured? Bad reviews?
We are searching for land in Ruidoso, city lot, small...
Heat Pumps
Is your New manufactured home Energy Star certified...
Just bought double wide office trailer
Greetings All, I just bought a doublewide office trailer...
© 2015 Houzz Inc. Houzz® The new way to design your home™