You can call all of the big banks and try to get a loan set up, but they are normally poor lenders for construction loans. We have worked with plenty of lenders over the years. Lenders come and go in the construction loan business, but the following companies will do a great job for you and they clearly understand what a modular home is.
Our lending partners will integrate your loan seamlessly with your project and give you the same rates as stick-built construction financing.
It is generally not possible to close a construction loan without first spending considerable time, resources, and effort on your project. This is based upon the lengthy timelines for a building project, likely permitting delays, and the uniqueness of each project. A construction project typically requires that you at least have already purchased the land, paid to prepare engineered plans specific to your project, have submitted to the local jurisdiction and obtained planning approval and building permits. When those items are completed, your project costing can be finalized by the General Contractor (others). The lender will then review your application for outstanding items so you can close your construction loan. We understand not all clients are familiar with or excited about the time and investment required to build a new home in California. We like to prepare our clients for reality and do not want to sugar-coat this process as it can be trying even for a sturdy person.
Important Note: Our pricing lists provide model specific prices for cash buyers of our homes. Additional short term financing costs will apply when a lender’s payment schedule differs from the factory’s.
Bob Speidel, US Bank – (949) 632-1930
US Bank offers Land Loans, Jumbo Loans, and other loan programs.
Tom Martinson, First Guaranty Mortgage Corporation – (760) 419-7337
FGMC Offers a 1X Close FHA Loan and VA Loans.
Mike McIntosh, Amcap Mortgage LTD – (619) 561-6241
Amcap offers a wide variety of loan programs.