Construction to Permanent
With a Single Close Construction loans, the process is streamlined: A single mortgage loan originator, a single loan, and a single closing process. This saves money, helps reduce the time to move into your house, and protects you against unforeseen circumstances down the road.
A manufactured home is built on a chassis offsite and transported to the location. The manufactured home must be built in compliance with the applicable HUD Codes. The chassis with hitch, wheels and axles must be removed once at the home’s permanent location. Prior to the delivery of the home, the site will be prepped including the foundation and connections to all utilities. The home is then affixed to the permanent foundation.
FHA 203k loan
Today Lending finances 203k Loans over $125,000. The 203(k) loan is an FHA mortgage designed for properties that need light renovations. They are most commonly used for “HUD Homes” that have been foreclosed by FHA.