If you need financing, you will need a “Construction Loan”. Most banks don’t offer Construction Loans and some lenders don’t understand what a CA Modular Home is.

Here are ways that many of our clients finance their projects:

• Some of our clients pay cash for the entire build and that is always the easiest method.

• The property is already owned free & clear and that is used a collateral for the loan.

• The property is purchased with a “Lot Loan” while plans and permits are worked out.

• Once permits are about to be issued California Modular Houses can provide you with the contract for the house itself and your General Contractor can provide you with his quote for the on-site work. Usually it is best to have the contractor include the purchase of the Prefab Modular Home in their contract as most lenders want one person responsible for the whole project and prefer to make payments to just one entity.

• Once construction is completed and your have your Certificate of Occupancy, the loan generally converts to a standard 30 year mortgage, or whatever type of conventional mortgage you work out with your lender.

Here are 3 lenders that you can talk to and discuss your financing options. You can call the one closest to you, whichever one strikes your fancy, or all three.

Randall Lee Nixon

Mortgage Loan Originator

NMLS # 256946

OneTrust Home Loans

Mobile: (619) 954-7816

Office: (858) 429-4654

rnixon@onetrusthomeloans.com

3838 Camino Del Rio North, Suite 305,

San Diego, CA 92108

 or

Ricardo Ramos

Non producing Branch Manager

NMLS 259643

Supreme Lending

Phone: (510) 501-5185

Office: (800) 600-6326

ricardo.ramos@supremelending.com

2936 Hilltop Mall Rd

Richmond CA 94806

or

Adam Radmand

VP, Renovation and Construction Lending

NMLS 1023104

New American Funding

Phone : (949)791-3777

Office : (800)450-2010 X 54151

Adam.Radmand@nafinc.com

1 MacArthur Pl, Suite 800

Santa Ana, CA 92707

Modular Home CA - Prefab Modular California Financing Options