Modular or Manufactured?

 Modular homes are also built in a factory environment but constructed to the same state, local, or regional building codes as site-built homes.  This process is far easier on the environment and eliminates the delays due to weather and scheduling of contractors.  This greatly reduces the build time.  In addition, they also are, on average, 15-20% less expensive than a home built on site. (This all depends on options chosen by the consumer).

Manufactured Homes are constructed according to the Manufactured Home Construction and Safety Standards (HUD Code).  This is the only national building code.  The HUD Code, unlike conventional building codes, requires manufactured homes to display a red certification label on the exterior of each transportable section. Manufactured homes are built in the controlled environment of a manufacturing plant and are transported in one or more sections on a permanent chassis.  This then means that the house is registered with the state as a vehicle as opposed to a deed.  However, if the manufactured home is affixed to a permanent foundation, through a specific process, it can then be issued a deed as real property.  (Contact us for more details)

Manufactured Homes There are many alternatives for financing your home, including a growing number of lending institutions that are providing conventional and government-insured financing plans for prospective owners. The most common method is through a retail installment contract.  (Contact us for more information) 

Modular Homes are financed through a construction loan or traditional mortgage.

Information from this page can be found at https://www.hud.gov/program_offices/housing/rmra/mhs/faqs