Construction to Permanent

Our construction to permanent loan program offers unique financing for modular or manufactured homes in that there is a one-time close. This program utilizes  FHA, VA, or RHS loans. A conventional loan is an option only for modular homes.

What is it?

Our construction to permanent loan program allows a borrower to finance the building of a modular or manufactured home along with the land, if needed. It only requires one closing meaning that there is only one set of closing costs.

Is it right for me?

Some times it can be difficult to find a home to purchase this leaves many looking to the option of building. This program allows the new modular or manufactured home to be financed and closed on prior to completion. The property/land can be included in the financing or if the borrower already owns the land, it’s value can be used towards the down payment.

This program utilizes  FHA, VA, or RHS loans for modular or manufactured homes, meaning minimum down payment amounts range from 3.5% to no down payment. A conventional loan is an option but only for modular homes and carries a hefty 30% down payment requirement. There are specific requirements for reach of these loan programs that the borrower must qualify for you can check those out using the links below. The only additional requirement for this construction to permanent program is a minimum credit score of 640.

FHA Loan

VA Loan

RHS Loan

Conventional Loan

Is construction to permanent different from other mortgages?

This is program utilizes a variety of different types of mortgages (see above) but structures it so that the loan is closed before the home’s completion, allowing for a one time close and only one set of closing costs. There is no payment required by the borrower until after the house and loan are complete. Following the completion of the house and the finalizing of the home, any unused interest and left over contingency funds are credited back to the loan amount.


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