Lower Mortgage - Fannie Mae modular home financing
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    Fannie Mae Conventional
    Eligible for FHA
    ★★★★★
    Fully Verified • 30+ Years Experience
    Fannie Mae modular home financing distributed in the USADistributed in the USA

    One Time Close
    Modular Home Loan.

    Secure your modular home financing with a true single-close Fannie Mae construction loan. Build faster, save on costs, and lock your rate today.

    Start Your Build
    No impact credit check.
    Modern A-Frame modular home construction loan financing
    12 Month Build
    Interim Financing
    1 Closing
    True one-time closing experience

    Choose Your Path

    Whether you're building a modern modular masterpiece or a traditional custom home, we have the perfect financing solution.

    Program
    Overview.

    This program provides interim financing and administration for construction financing, lot purchase, and the permanent loan in one package for a true one-time closing experience.

    In-House Underwriting

    Underwriting and approval is done in-house prior to the start of construction. Once closed, construction can begin.

    12-Month Build Time

    Build time of 12 months or less. Borrowers sign modification documents once the home is 100% complete.

    Retail Only

    Conforming Loan Limits apply. High Balance is allowed where available.

    Eligible Transactions

    Modular Homes

    • Modular Homes must meet agency guidelines.
    • Land must be owned or purchased by the borrower at closing.
    • Property must be converted to Real Property after placement.

    Ineligible Property Types

    Property over 40 acres
    Unique homes (tiny homes, etc)
    Single-wide manufactured homes
    Homes not on borrower-owned land

    Frequently Asked Questions

    Everything you need to know about our modular home construction loans.

    What is a construction-to-permanent loan?

    A construction-to-permanent loan combines a short-term construction loan and a long-term mortgage into a single loan with one closing. Instead of qualifying for and paying closing costs on two separate loans, borrowers close once and the loan automatically converts to a permanent mortgage once the home is complete.

    Quick Resources

    Qualification Guidelines.

    Clear and straightforward requirements for your construction loan.

    1FICO, DTI (Debt to Income) and LTV (Loan to Value)

    • 680-699 FICO43% DTI (Debt to Income) and 80% LTV (Loan to Value) MAX
    • 700-719 FICO45% DTI (Debt to Income) with 90% LTV (Loan to Value) MAX
    • 720+ FICO45% DTI (Debt to Income) with 95% LTV (Loan to Value) MAX

    2Escrow Requirements

    • 680-699 FICO12 months insurance & 6 months property taxes
    • 700+ FICO3 months insurance & 3 months property taxes

    Construction Term & Rate

    12-month term with modification. Lock the loan no later than 15 days prior to anticipated modification.

    Interest only payment during construction
    15 or 30-Year

    Builder Requirements

    • • Fully executed construction contract (Fixed Price ONLY)
    • • Plans, specs & cost budget/breakdown
    • • Builders Risk Policy (including Wind/Flood if applicable)