Manufactured & Modular Financing Considerations

Custom is a word that has different meanings for different people. 

What does it mean to you? For current homeowners who’ve utilized the term “custom” to design their home to their specifications, it means peace of mind. 

Custom manufactured and modular homes allow you to decide on the features you require to live comfortably. 

The question that stops some people from proceeding in their forever home search inevitably centers on finance. 

Thankfully, manufactured home financing is possible for people from every walk of life.

Cost-Efficient Homes

Two words in every good buyer/seller’s repertoire are “cost” and “custom.” 

Without an absolute emphasis on the importance of each of these words in your search, your dream home may be hard to find. 

Manufactured and modular homes find a balance, to create an ideal for everyone.

They simplify the search by ensuring you get a home that checks all the boxes:

  • Affordability
  • Equitability
  • Livability
  • Cost-Efficiency

The added equity that custom modular and manufactured homes bring, allows you to realize your home as not only your home, but a quality investment.

Here are some helpful tips on pursuing funding for the place you’ll call home.

Manufactured and Modular Home Financing Highlights

What is required to get the funding you need for an equity-building investment?

Lenders provide manufactured home financing options that work for many income brackets. 

A large selection of banks can finance manufactured and modular homes through a two-stage loan process. Another term for this is a construction-to-permanent loan.  

If you’ve decided to go through the process of manufactured home financing, and have already found your dream home, you can speed up the process by having:

  • Your Purchase Agreement (from Dealer)
  • Federal tax returns
  • Proof of employment
  • Work History
  • W-2 forms
  • Property deed

The list above is a good starting point when seeking manufactured home financing. 

Once you’ve started filling out the paperwork for the manufactured home financing process, you’ll be able to see more clearly what needs to be done next. 

Whatever financial institution you select will be able to tell you more specifically their requirements to complete the loan process.

Manufactured and Modulars can be for Everyone

Manufactured home financing opens funding doors that normally would be shut for everyday people. 

Modular and manufactured homes are especially valuable for potential buyers when seeking an affordable housing solution. 

Manufacturers have to adhere to strict guidelines to ensure quality and safety in their products.

Because of those guidelines, manufacturers create housing options that:

  • Meet the same standards a site-built house is required to meet or HUD codes
  • Are configured for a permanent foundation
  • Fulfill the state and local requirements of the home’s future location
  • Follow the specific region’s code requirements 

These standards give financial institutes the assurances they need to trust your home will be a financially sound investment.

After Cost, Comes Fun!

Once you find the best source for custom manufactured and modular homes that meet your state/local standards and have the manufactured home financing you need, you’ve tackled the cost element. 

Now it’s on to the fun part! Custom features! You can enjoy the perks of getting to select the finishes that will make your house into a home!

After leaping over the largest financial hurdles, you can choose from the many custom features custom modular homes offer. Select from choices in:

  • Windows
  • Floor styles
  • Countertop materials
  • Exterior paint colors
  • Siding and decking
  • Crawl space additions
  • Appliance Packages
  • Kitchen and bathroom cabinetry
  • Types of tubs/sinks
  • and much much more!

You’ll be excited to find how many ways there are to customize your modular home. 

To find more about customization options, check out this post!

In Short, Dream Home is Possible

At Baird Homes, you are given custom treatment in cost and custom design. Manufactured home financing should be the least of your worries. 

Contact us today and discover high-quality custom homes that cut costs, not quality! 

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