How to Finance the Construction of a Two Story Modular Home Addition in Michigan

A two story modular home is one of the efficient and quality styles in terms of modular construction. The construction of a two story home in Michigan needs understanding of several factors, especially financing.

Below are few tips in financing a two story modular home in Michigan;

Determine Budget

The initial step in modular home financing is to verify how much money you have and how you will pay the construction. If you wish to have a construction loan from lenders, you may do so. It is advisable to speak with a couple of lenders in Michigan for clarification and further explanation about two- story modular home financing.

Look for Trusted Mortgage Company

If possible, you should first approach a mortgage company that has experience with modular homes. Otherwise, you may encounter some headaches as the inexperienced mortgage company tries to catch up with and learn about modular homes.

They may try to fit your two story modular home addition project into one of their predesigned loan packages instead of having a proper matching loan package to start with.  As with buying traditional stick-built buildings, modular homes can have a fixed interest rate or an adjustable interest rate for the life of the loan.

Choose Modular Home Companies Offering Financing Options

Many modular home companies also provide in-house financing options. Find the best one to suit your personal needs and finances. Legendary Homes Inc. is one of the trusted company in Michigan in terms of modular home financing.