Financing

This type of financing can be obtained from any lending source, including the contractor or modular house dealer. Variables can allow a person to anticipate cost overruns such as unforeseeable excavation expenses, changes in specifications, assumptions made that are incorrect, and unfortunate building delay costs. Modular home loans will vary in amount depending on the needs and whether or not a contractor is hired. A modular home loan can have fixed or adjustable interest rates, the same 30 or 15 year terms, or various down payment options; rates will depend on credit standing, employment history, and the down payment. If a person is looking for a modular home loan from the Veteran's Administration , it can be processed through the VA's regular program.