One of the most common questions buyers ask is, “Can I finance a modular home like a traditional house?” The answer is yes. Modular homes are built to the same local building codes as stick-built homes and are placed on permanent foundations. That means they qualify for conventional mortgages, construction loans, and financing options like any site-built home.
It is important to understand the difference between modular and manufactured homes when discussing financing. Manufactured homes (often called mobile homes) are built to federal HUD standards and may be classified as personal property, which limits financing options. Modular homes, however, are considered real property. They are appraised, financed, and insured the same way as stick-built homes.
Rochester Homes Inc. builds modular homes that meet or exceed local building codes, ensuring they qualify for traditional financing and long-term investment value.
Buyers can choose from several financing paths:
Conventional Mortgages: Once the modular home is completed and placed on its foundation, it qualifies for a standard mortgage. This includes fixed-rate and adjustable-rate loans.
Construction-to-Permanent Loans: These loans cover the cost of building the home and automatically convert to a mortgage once construction is complete. Rochester Homes Inc. often works with lenders who specialize in this type of financing.
FHA and VA Loans: Modular homes may qualify for government-backed loans if they meet specific criteria. These options can be ideal for first-time buyers or veterans.
Land and Home Packages: If you are purchasing land and building a modular home, lenders can bundle both into a single loan. Rochester Homes Inc. can help coordinate this process.
Modular homes are appraised using the same standards as stick-built homes. Lenders evaluate comparable properties in the area, taking into account square footage, finishes, and location. Because modular homes are built with high-quality materials and placed on permanent foundations, they hold equity and appreciate over time.
Rochester Homes Inc. ensures every home is built to maximize long-term value, making it a smart financial investment.
Financing a modular home is not complicated—it is like financing any other custom-built home. Rochester Homes Inc. partners with experienced lenders to guide you through every step, from pre-approval to closing. With flexible loan options, strong resale value, and faster build times, modular homes offer a smarter path to homeownership.
Learn more about How It Works with Rochester Homes Inc.