Dispelling Myths

Q: What is a modular home?

Myth: I know it when I see it.

Truth: Modular homes are simply just a method of construction. †You will design and build the home that you want. †A lot of styles are similar in nature but they donít have to be! You may want to conform to the homes in your neighborhood OR you may want a more modern house that is very different from your surroundings.

Q: Isn't a modular home a trailer?

Myth: Yeah, all factory-built homes are trailers.

Truth: Trailers, mobile homes, singlewides, doublewides are manufactured homes. They are built to the federal HUD building code. Modular homes are similar only in that they are built in a climate-controlled factory. Otherwise, they are very different. Modular homes are built to the IRC building code†and your local building department requirements.

Q:†Are the materials used in a Modular inferior to site built homes?

Myth:†Factories buy cheap materials and products

Truth: All the lumber used is sourced from North America. All of it. Other building products are brands that are the same as any site-built home Ė and in most cases better.

Q: When can I †move in?

Myth: Next week.

Truth: While your home comes from the factory about 85% complete, there's still quite a bit to finish before you can move in. Your utilities have to get hooked up, decks and patios have to be installed. You might have some custom work being done. We're sure you'll want a nicely-graded, level yard planted with grass seed. In most cases, it's about another 8 weeks. Can be more. Can be less.

Q: What kind of mortgage do I need?

Myth: You can't get a mortgage for a modular home.

Truth: You need a construction loan. They are not that difficult and Liberty is an approved builder with several banks and mortgage companies. You'll start by getting pre-approved with one of them. Then we'll get to work on a budget and the details to get accurate pricing. Once that happens, things move pretty quick. You send the bank your recent tax returns and some other paperwork. Then they order an appraisal to determine the value of the new home in your area. The only part that is different from a traditional mortgage is that you're borrowing the money in advance of having a house. The closing funds go into an escrow account and are drawn upon as work is completed. Once you have a certificate of occupancy, your loan is now a regular mortgage. We can talk more about this anytime.