What are Manufactured & Modular Home Mortgages?
Manufactured Homes are factory-built residences made after June 15, 1976 that are required to meet safety standards referred to as the HUD code. Modular homes are factory-built and assembled on-site. Instead of the HUD code, they are subject to the same city and uniform construction codes as site-built homes and are typically installed on a concrete foundation and cannot be moved.
Refinancing a home can be a difficult process, especially for manufactured and modular homes. Generally, it’s easier to get a loan for a modular home than a manufactured one, as they are often treated similarly to traditional site-built homes. But loan options for these types of homes are still greatly outnumbered by standard home loans and it can be hard to find a company that will offer manufactured and modular home mortgages.
Global Equity Finance is one of the rare companies that specializes in manufactured and modular refinancing and can help you both lower your home mortgage rates and shorten your loan terms.