The Impact of MultiFamily Modular Home Apartment

Posted by Legendary Homes on May 15, 2014 in Modular Homes with No Comments Yet

How will the multifamily modular home apartment impact the real estate market and local investors?

Multifamily modular home is the new trend that leverages the life of the people in the northeastern part of the United States. There is an increasing appearance of prefabricated apartment in the Northeast. It is now affecting the demands of people in terms of owning and renting a home, which leaves the manufacturers to build a new style of the modular home. It also makes how manufacturers have the potential to delight those people with an average income to choose the modular apartment for multinomial. Banks and lenders are also revamping their mortgage program because of this modern style.

Because of the superior likeness to modular home apartments in the Northeast, innovations in modular home construction have been in progress. Modular apartments are like the single family modular home. They are built-in a controlled factory and are also affordable. When its modules are 80 percent complete, they are transported to the desired project site and are assembled to form a large building.

Pros and Cons of Multifamily Modular Home Apartment

The advantages of multifamily modular home apartment are as numerous as the single family modular home. Primary benefit is it is affordable. Manufacturers use lower cost construction materials and labor to erect the multifamily modular apartment, then offers a lower monthly rent. Modular apartments are actually realized for moderate income home buyers. It even provides highly appealing affordable housing to lower income residents which can go a long way to solving issues for district municipalities.

Just like the standard modular home, multifamily modular apartment is built-in high quality. The materials and the methods use are in conformance with the state and local building codes. Manufacturers and general contractors to ensure that each of the materials is high standard and plays a major role in promoting a quality- built modular apartment.

Additionally, multifamily modular home apartment influences the construction work and tax of the owner. There is reduced time to create the modules since workers learn how to be more productive. This then leaves the work in the entire construction into half. Unlike the traditional multifamily home construction, building of modular apartment also lowers the tax revenue.

With all the pros and cons of how the multifamily modular home apartment, a home buyer should be vigilant in choosing the manufacturers. Weighing different factors of multifamily modular home is also a wise way to own a new home.

If you find this post helpful for your future home, you can now sign- up to our free prefabricated home kit, where information pertaining to everything modular is given at your expense.

Topic: Modular Home

Getting to Know the MultiFamily Modular Homes

Posted by Legendary Homes on May 15, 2014 in Modular Homes with No Comments Yet

Modular homes are not only for the single-family home market, where it is most common. There are infinite possibilities for modular housing or what type of modular home can be realized. Today’s modular technology also caters for multifamily customers. Multifamily modular homes are viewed as an effective way to have a home that gives relevance to how people are connected.

The realization of multifamily modular homes are attributed to the challenge given by the Building Systems Councils to modular manufacturers, who are expected to produce a high performance prefab home for different families living in one roof.

MultiFamily Modular Homes: Two Story Duplex

Examples of MultiFamily Modular Homes

Manufacturers have erected prefab homes in separate locations in the US. One of their projects is the construction of multi- family modular homes which are safe, energy efficient and affordable. From duplex, apartments, condominiums, town houses and more, home buyers can now be part of multifamily abode. School buildings and offices are now part of modular construction. These prefabricated buildings are twice the length and cost of a standard modular home built on a specific location.

A modular duplex home is one of the examples that could picture what are the modular homes for multifamily. A duplex is a structure where two different floor plans are attached to form a single house. Usually one side of a duplex has two bedrooms and two bathrooms. Since each section is occupied by different families with or without blood relation, they can be modified differently as well. The home owners are given the liberty to integrate their preferred designs or styles as modular homes are able to get the customization they deserve. Duplex modular home can be converted into two story homes if the owners agree to supercharge it later on. However, most multifamily modular homes have the same exterior features.

The increasing demand of multi- family modular homes and lower funding to build a conventional home gives way to an innovative modular technology. Manufacturers are challenged to keep up and fill in the gap to make a high quality and affordable modular home for diverse families.

If you find this post helpful for your future home, you can now sign- up to our free prefabricated home kit, where information pertaining to everything modular is given at your expense.

Topic: Modular Homes

Why Retiring in a Modular Home is Better than a Traditional Home

Posted by Legendary Homes on May 14, 2014 in Modular Homes with No Comments Yet

Retiring in a modular home may seem overwhelming for some in the past years. But today, there are excellent reasons why a modular home is preferable thab traditional home when talking about retirement.

Retirement is the phase where those hard- working persons choose to completely stop their employment. It is the time where a retired individual moves into a nice home. Today many potential retirees are choosing modular homes as their abode. They want a home with similar quality to the conventional houses. Then a modular home for retirement is the convenient, faster, custom- designed and economically friendly choice.

Modular Home is Inexpensive

Modular Home for Retiring Individuals

A modular home is built in an friendly economic fashion. Its price is lower than the building of a conventional home. A buyer expects to save more with a prefab home since manufacturers are using low- priced yet high quality construction materials. The materials are purchased in bulk from suppliers, giving discounts to the manufacturers.

Expenses during the building process are also reduced by high productivity rate of the workers. Manufacturers to ensure that everything is done according to the schedule to allow proper spending of money. Delays that can increase costs are prevented to ensure no additional charges will e incurred from the buyer.

Modular Home is Safe

Because of the advanced technology and the demand to increase safety against extreme weathers like hurricanes and tornadoes, modular homes are now built to provide increase safety. A modular home of today can withstand the wrath of a strong storm or an earthquake. Safety against fire is likewise incorporated in the construction of a prefab home. If your modular home is supposed to be placed in a flood prone area, you should not worry. Prefab homes are erected against the damages brought by flooding. The safety of a modular home is guided by the building codes implemented by the Federal Housing Administration or FHA .

Modular Home is Quality- Built

Modular home builders build modular homes following the state and local building codes, that resulted in a high quality and energy efficient home. The materials used especially the foundations are superior quality. They prevent damage from faulty plumbing systems and electrical systems by installing superior and ENERGY Star labeled materials and appliances.

Modular Home can be Customized

Retiring individuals who wanted to have a modular home is also granted to customization. Manufacturers allow home buyers to modify the chosen standard floor plan of a prefab home into their preference. Replacing the colors of the walls, adding new rooms and decks, and altering other interior features are some of the things a potential home owner can do in modular home customization. Remember to discuss the alterations you want to do to the manufacturer o builder so they can provide these changes accordingly.

Modular Home Financing is Available

In cases when a retired person can’t pay for the construction in cash, he can always seek assistance from the various modular home financing options. There are a lot of companies who offer home financing to retirees with a lower interest rates. Sometimes modular companies are giving assistance to home buyers when talking about financing options. Usually one- time close construction loan or personal loan is given to modular home buyers. Just ask your home dealer about the financing services and if they are providing such services. If they are not providing financing services, you can apply at a bank that is specializing in prefabricated home mortgages.

Modular construction is the perfect solution to building a home in Michigan when it is time to retire here. Legendary Homes can help you design and build a modular home for the land where you want to build. As a modular home builder, Legendary will answer all of your questions about the construction process. You can choose from one of our 100’s of existing modular home floor plans, choose a floor plan and make some custom design changes to make your new home better accommodate your needs, or have a modular home custom designed.

If you think your dream home location is too precarious for modular construction, you can always call Legendary Homes for assistance. We are offering free information about the modular home construction as a reward for making our company your choice. You can sign up to our newsletter to receive it immediately.

Topic: Modular Home Construction

Finding the Perfect Modular Home in Jackson, Michigan for your Retirement

Posted by Legendary Homes on May 14, 2014 in Modular Homes with No Comments Yet

You do looking for a modular home in Jackson, Michigan? You get a brink of retiring soon? Have you met the decision of purchasing a modular home for your retirement?

It is a wise move to purchase a modular home when thinking of retirement. Modular homes are dwellings that are inexpensive, safe, high quality and have a customizable size. But before you spend your hard- earned dollars, you need to consider certain tips in buying a modular home as a retiring individual.

Research What is a Modular Home

MultiBox Modular Home

Researching prior to every huge decision is a better way to prevent future regrets. As a retiree, you need to do a series of meticulous research of the modular homes, the builders and its construction process. You are required to research for the suitable location of your modular home. All the research you’ll make will be paid off st a fair price when you have regard to the result. Start your research at your neighborhood first. You’ll be amazed that can find someone noteworthy while saving time, and money on transportation.

Another research method to apply when looking for modular home for retirement is to perform the Internet search technique. There are a number of websites and blog sites offering information and tips about modular homes, and modular home builders. Manufacturers and general contractors of prefab homes today have built websites to give their customers convenience and easy access to the companies services. Buyers can even look for reviews and classified ads about their preferred modular home companies.

Perform a basic Internet search for area modular home retailers and auctioneers. There are a number of online sites that can give you a good idea what mobile homes are selling for from the original manufacturers and dealers. One of the common sites to deal with a modular home builder is the Craiglist, which is a free and convenient way to do business with prospecting builders.

Look for Modular Home Financing

During the research phase, home buyers can find modular home financing options. These are mortgages or loans offered by institutions and the banks for those who can’t afford to pay for the construction in cash. It is recommended that before going to a bank or lender, a home buyer must know what he can and cannot do with a definite home financing option. Websites of some companies have widgets that allow you to know the amount to be borrowed, the duration of financing, required down payment and interest rates. This a convenient way to decipher how much can you afford in modular home financing even at home.

Moreover, always check the local banks for listings of re-possessed/foreclosed modular homes since these homes can have lower values, leaving it more affordable. Bidding for these modular homes is allowed, which provide opportunity for the bank to reduce its losses. This move is seen by many as a wise way to owning a modular home for retirement.

Select the Location of a Modular Home

Selecting a perfect location of a modular home is always a customary way to start the construction process. A home buyer must understand that setting up a prefab home in a specified location will require a number of documents and permits. If the buyer is about build a home in a new or not a family- owned land, he may have to consider purchasing the land from the land seller. Land procurement is sometimes not included in the modular home construction package given by some general contractors. So it is still best to buy the land first before deciding to build a modular home.

Affordability of a Modular Home

When retirement strikes it is always best to consider an affordable modular home. The importance of having a budget- friendly home can give you more than what have been thinking in the past. Modular homes today are built at the right price even for the middle class and rich individuals. The recession in America makes use of prefab housing as an alternative way to own a home since it has been proven to have similar quality and performance with traditional housing. Also modular industry is increasing its market each year, which also leverages its quality to provide savings, comfort and safety of its customers.

If you think your dream home location is Jackson, Michigan, you can always call Legendary Homes for assistance. We are offering free information about the modular home construction as a reward for making our company your choice. You can sign up to our newsletter to receive it immediately.

Topic: Modular Home Construction

Different Methods Used in Modular Home Construction

Posted by Legendary Homes on May 13, 2014 in Construction Company, Modular Homes with No Comments Yet

Modular home construction is the process of erecting a high performance dwelling for people who seek comfort, and safety even on a budget. It is a means to own a home with less cash on hand for low interest rate home financing is available. Most of home buyers today opt for modular construction for so many reasons. However, it is time to discuss and understand the methods used to build a modular home.

Modular home builders can either incorporate the panel building or modular building. They are the same ones because these methods result in high performance homes. However, these methods are done differently from each other.

Modular Home Construction: Panel Building

Modular Home Construction: Modular Building

In modular home construction, panel built homes erected by the integration of panel building method. It is achieved by laying down the floor and then lowering each section of wall in to place one at a time. This type of construction method is good for those who are not meticulous about neatness. It can result into something that’s average but sturdy. A panel built building or home is easy to transport that’s why many are also choosing this method. One of the example of panel building is seen in the commercial prefabricated structure since panels allow wide spaces and high ceilings.

The panel building method shows the first and second story floors are fitted accordingly. However, today manufacturers have devised the panels with holes that allow anything to be glued into them, leaving anything in place when transported to the site. The kitchen cabinets, sinks, bathroom accessories and all other products attached are secured, which gives more savings in time and money.

Modular Home Construction: Modular Building

Modular building is another type of modular construction where making, assembly and attaching of modules is conducted. When the modules are completed in the factory, they are transported safely to the project site usually by a flat- bed wide truck. A module also has holes like those in panel building to allow a secure attachment to the other box- like modules. Once in the site, they are lifted and lowered by a crane so they can be assembled and attached to each other to give the entire picture of the home.

Prefabricated building does not allow home additions like deck or porch to be completed in the factory, that sometimes manufacturers incorporate the panel building method. When these two methods are combined everything is perfect. They can defy any issue regarding modular home construction. This then produces a ninety percent complete modular home.

Building a modular home is not a joke. It is a great investment that requires lots of effort and enthusiasm from both the home buyer and the home builder. That is why it was highly recommended to do a stringent research when looking for the best modular home builder. You can start your search with Legendary Homes, Inc., who service the people of Michigan, Ohio and Indiana.

If you find this post helpful for your future home, you can now sign- up to our free prefabricated home kit, where information pertaining to everything modular is given at your expense.

Topic: Modular Home Construction

Pros and Cons in Buying a Manufactured Home

Posted by Legendary Homes on May 11, 2014 in Modular Homes with No Comments Yet

The demand to construct and own a manufactured home has been tremendous these past few years. It has been reported to have lower taxes than the traditional houses. Manufacturers have been doing all their best to provide a high quality manufactured dwelling. But before you buy a manufactured home, you need to look at the potential pros and cons.

Cost of a Manufactured Home

Manufactured Home in Michigan

Generally speaking, manufactured home is less expensive than a traditional home. The materials used are purchased in bulk and their costs are discounted because general contractors have specific and trusted manufacturers who provide the said materials and products. The costs will then be converted to the home buyer at a lesser price as well. Because it is made inside a factory under controlled conditions, a costly event or accident is less likely to will impact the building process. General contractors see to it that each phase of the process needs to be done according to schedule with no delays and each employed worker is trained. However, since you must rent or purchase land on which to place the home, you’ll need to consider land cost as a possible drawback.

Manufactured Home Financing

Manufactured home financing is also inevitable even if building one is inexpensive. A home buyer still must finance the construction if he can’t pay in cash. A conventional loan is not possible if you are not building a manufactured home on a permanent foundation, and if you want to build a permanent foundation, you have to buy the land. Fortunately, there are lenders and home dealers today who can grant a personal property loan. While it is considered to be the most feasible by some, this type of loan has higher interest rates than the mortgage given by real property.

Construction Process of Manufactured Home

The construction of a manufactured home is faster than the conventional home. While a traditional home is built at about six months or a year or even more, it will only take no more than 3 months to build a manufactured home. This is the fact that it is being accomplished in an indoor and closely monitored and controlled factory. Construction on the site can commence even if the sections of a manufactured home are not delivered yet. It then cut the time spent on the building process into half. Moreover, modifications or repairs to a customary home can take a month or two, leaving you to wait even longer.

Styles and Additions for a Manufactured Home

When considering buying a manufactured home, it is equally important to look at its different styles. These manufactured home styles bring potential pros and cons to home buyers and manufacturers as well. There are styles that may not meet the type of dwelling you’re looking, while others may not allow you to make such changes. You’ll find a variety of styles, designs, layouts for a manufactured home, but at some point you will of design, layout and other significant features, but you may not find the be going to alter or add some of its features.

Customization and additions given to a manufactured home will cost lower than in a traditional home. However, sometimes making major changes to the standard layout or floor plan can be a pitfall. You will spend more and sometimes its quality becomes narrow.

The bottom line in buying a high quality manufactured home is finding an experienced home builder. You can start with Legendary Homes, Inc, who service the people of Michigan, Ohio and Indiana for the last 20 years now.

We are offering free information about the manufactured home as a reward for making our company your choice. You can sign up to our newsletter to receive it immediately.

Topic: Manufactured Home

Why Manufactured Homes Aren’t Trailers Anymore

Posted by Legendary Homes on May 11, 2014 in Modular Homes with No Comments Yet

Have you thought of homes with wheels when manufactured homes have popped into your mind? If yes, then you become one of those persons who have not debunked the old times yet.

Manufactured homes today way more different from the ones our parents and even grandparents knew. They are no longer have wheels, though they are delivered on wheels by trucks. Today’s manufactured homes are actually the result of the evolution of trailers. They now have different appearance, stronger and durable foundation, walls, and basements; safer features and energy efficient windows than the trailers of yesteryear.

Features of Manufactured Homes Today

Manufactured Home in Michigan

Skirting is one of the common features of a trailer that may be added to today’s manufactured homes. Skirting is use to keep out the critters and conceal the space under the home. Although this is an option for manufactured home, it’s not exactly the most popular choice but is the most economically beneficial. Skirting is not as useful as it look. That is why other home buyers would choose to have a full basement, which can provide additional space for the manufactured home. Some would request for steps that would lead them inside their homes.

Lots of manufactured homes owners today opt for short walls because basements can be a little expensive. Most would agree that short walls are much more pleasing to the eye than skirting. It is also much cheaper than a basement, so it’s an excellent choice.

Customization is the game when it talking about manufactured homes. Most manufacturers nowadays would allow full modification of the standard floor plan, leaving the house to look exactly like the conventional house. For example, a home buyer is given the chance to eliminate the rectangular or box shape of his manufactured home by adding a porch, additional room or garage. A nice patio is also an option to debunk the boring box shape.

Another feature of a manufactured home is having a dormer. A dormer is the triangular shaped raise in the roof, which is usually situated over the front door. Dormers serve no real purpose. They are merely an accessory to the house but many agree that their house is much more pleasing to the eye with it.

Manufactured homes are bought after a thorough research because they are considered as your huge investment. Find a local sales center that is knowledgeable of the subject and give them a call. Or you can sign up to our free newsletter to receive training and modules about buying a manufactured home and modular home.

We are offering free information about manufactured homes as a reward for making our company your choice. You can sign up to our newsletter to receive it immediately.

Topic: Manufactured Homes

Understanding the Modular Home Financing: Options and Decision Making

Posted by Legendary Homes on May 10, 2014 in Modular Homes, Mortgage Lenders with No Comments Yet

Modular home financing is fast becoming an alternative choice for buyers. It was found that five to ten percent of all houses in the United States are modular houses. Manufacturers of this type of dwelling give their utmost service to provide assistance to home buyers in the entire duration of the construction process. And one of the services they provide is guidance in modular home financing.

It is substantial for the home buyer to be familiar with all aspects of modular home financing before seeking a mortgage provider. This will help during the decision process on who to get to when applying for the loan.

Choosing the Modular Home

Two Story Modular Home by Legendary Homes

Understanding what is a modular home before discussing what modular home financing is may be the best start. Modular homes are a type of house that comprises of sections, which are constructed in an indoor and controlled environment. Once the sections are completed, they are transported to the site, and later assembled and glued by the general contractor and his team.

There are several advantages for a person when deciding to purchase a modular home. One of the honest benefits of this type of house is that it takes lesser time to construct as it is built-in a controlled factory where delays are prevented. Modular homes are inexpensive compared to the conventional house. They are further seen to have a higher resale value. Superior quality and energy efficiency are also included in the benefits of a modular home, leaving the home owner a comfortable and safe abode. Moreover, one of the important benefits for buyers in buying a modular home is that the reduced cost overruns since prefab homes come with a guaranteed price.

When seeking modular home financing, a borrower is supposed to be wise. He must conduct extensive research in securing a construction- to- permanent loan since this is a special type of housing.

Types of Modular Home Financing

Conventional Loan

Whether a person obtains modular home financing, a traditional mortgage for an existing residence or funding for constructing a site built house is part of the option. This type of financing requires an individual to have a good credit record, and those who have sold their houses in a short sale period. It is also provided for persons who have been in bankruptcy, provided they have been discharged from it for at least 3 years and have established a good credit record since then.

Construction Loan

Generally speaking, options for modular home financing are almost the same with the conventional houses. One of financing options is the construction loan. When an individual do not have the means to build a home without the use of credit, he can apply for a construction loan. Usually a construction loan is considered a line of credit by most lenders, and is more costly than the mortgage of an existing house. It helps a buyer in paying for the work made by subcontractors, some permits and fees, and the construction process itself. Architectural plans or site testing are not necessarily included in a construction loan when it covers the anticipated costs of building a modular home.

The wise decision for an individual when considering a modular home financing would be to diligently have a trusted lender who as much as possible provides the utmost service to fund the construction. If the chosen option is not satisfactory, then a home buyer should invest much time in choosing a trusted modular home builder or dealer who works with an excellent loan provider.

We are providing exclusive notes about modular home financing along with the price sheets of our model homes. Just sign- up to our newsletter.

It’s amazing news to start building your dream home, right? “We can make your dreams a reality!”

Topic: Modular Home Financing

Types of Inspections a Modular Home Must Go Through

Posted by Legendary Homes on May 8, 2014 in Modular Homes with No Comments Yet

To ensure that a modular home is built in high quality, the general contractor must submit it for a series of inspections. These inspections will also evaluate whether the modular house meets the standards of the state and local building codes. Some of these checkups happen during the construction process in the factory, while the remaining types of inspections are made in the project site.

The different types of inspections that a modular home must pass start from the pre- inspection, which is done prior to the first step of the construction process; and end with the installation inspection. To further understand these kinds of inspections, start off with the inspection of floor plans and blueprints.

Pre- Modular Home Construction Inspection

The former kind of inspection that a modular home will experience is the evaluation of its floor plan and blueprint. For the benefit of this article, let’s calls it the pre- modular home construction inspection. In this stage, the floor plan and blueprint are checked to determine if the house will be built in a factory or on the project site. But since it is a modular home, the inspector is expected to examine the factory and how it performs in compliance with the modular building codes.

Modular Home Construction, Modular Home Prices, Modular Home, Prefab Home Construction

Modular Home Inspection

Once the floor plan or blueprint is approved, the inspector will authorise the building agency to issue a building permit. This permit signifies that you can start creating your home. Other home features such as for electrical and plumbing systems have to undergo different permits and inspection, which are usually executed during the factory or construction inspection.

Factory or Construction Inspection

During the factory inspection stage, the third party inspector checks every detail during each step of the building process. The inspections include the examination of roofing, insulation, plumbing, electrical and framing systems. Once these features comply and meet the standards, allows to install and use are handed to the general contractor or manufacturer. These permits have the control number and are usually temporary labels.

Soil examination is also a member of the inspection process to verify a solid ground for the modular home. If the soil was approved, construction of the foundation starts. The foundation will then undergo a slump test for its concrete, and inspection of its footing and slab from the inspector. The inspection for a foundation bases on what kind of foundation is being built.

Modular Home Installation Inspection

Installation inspection commences when the modules are assembled and glued together on the foundation; and all utility systems are related to their sources. The inspection guarantees that the modular home is erected in a strong and high quality manner, and meets the building codes. If decks and porches are added, they will also undergo inspection to determine if they too comply with the prefabricated building codes. After the inspections have been done, and proved that the house performs and conforms with the local and state building codes, the inspector will then issue a certificate of occupancy and all the temporary labels on the major and minor features of the house will be removed.

They may be meaningful inspections from a third party agency, but they also assure that a modular home is a quality- built abode.

“With its superior quality, energy efficiency, strong and budget friendly modular homes, Legendary Homes is one of the trusted modular home builders around Clarklake and Jackson Michigan for over 20 years of experience now. Legendary Homes helps in site location, acquisition of permits, excavation, foundation (including Insulated Pre-Cast Foundations), landscaping, breeze ways and other services needed to complete your home. As a company that prioritizes its customers, Legendary Homes allows you to customize your home. And most importantly, we assist in modular homes financing by working with the top lenders in Michigan.”

It’s amazing news to start building your dream home, right? “We can make your dreams a reality!”

Topic: Modular Home

FHA Modular Home Inspection and its Importance

Posted by Legendary Homes on May 8, 2014 in Modular Homes with No Comments Yet

Submitting your modular home for FHA (Federal Housing Administration) inspection gives a number of benefits. The FHA is an agency that gives confidence to home buyers especially first timers and average- income buyers that full checkup and evaluation of the house are done accordingly. Usually FHA inspected home saves hundreds of dollars while ensuring the highest quality.

Understanding the basics about home inspection and FHA first is a good way to learn the importance of modular home inspection.

Modular Home Inspection

Modular Home by Redman Homes

A home inspection is a work into which a third party representative checks whether the house complies with the building codes. It is typically done prior to the construction process where issuance of building permits is granted by the inspector. An inspection is usually a condition set or incorporated when buying a house, which is written in a sales contract. The condition states that the buyer has a right to allow inspections for the house and has to power to cancel buying it when he comes into terms that the house does meet the standards. It is also noted in the protection against penalizing a borrower for cancelling the home loan following the sad result of inspection.

A passing home inspection is vital when you are using a FHA-backed mortgage loan to purchase a property. The FHA, or Federal Housing Administration, backs low-cost mortgages for qualified borrowers, according to the U.S. Department of Housing and Urban Development (HUD), but the purchase property must meet the standards lay down by the FHA. A licensed house inspector examines the property to determine its condition and if the property meets the FHA criteria.

FHA Inspection

The Federal Housing Administration backs up mortgage loans through a mortgage insurance program that guarantees a loan if the borrower defaults. FHA has certain inspection guidelines that a home must meet before the loan can be secured. The lender must require that a home inspector be hired, usually at the buyer’s expense, to walk the property and test it against FHA’s guidelines to make sure the home is ready for lending.

As one of its advocacy, the FHA reimburses the lender’s losses once they have proven a borrower’s default, which allows lenders to finance risky buyers of modular dwellings with one to four units. The agency requires an appraisal inspection on all purchase loans rendered by the buyer and the lender. The appraisal inspection is able to know the market value of the modular home, and its overall condition, even determining minor defects that could leverage the house’s value, structural integrity or the occupants’ health and safety. As part of the condition, lenders may require certain repairs if they have seen any. The inspection report is often used to evaluate whether the modular home is a good collateral for the mortgage loan and the maximum loan amount.

Unlike the home inspection, appraisal inspection is optional and attends to the personal doubts of the buyer. It is for the lender’s underwriting purposes only.

Knowledge of the steps involved in the construction of your modular home is a brilliant way to supercharge its quality and performance. Now all you get to do is look for the right modular home builder. You can start with the Legendary Homes, Inc.

“With its superior quality, energy efficiency, strong and budget friendly modular homes, Legendary Homes is one of the trusted modular home builders around Clarklake and Jackson Michigan for over 20 years of experience now. Legendary Homes helps in site location, acquisition of permits, excavation, foundation (including Insulated Pre-Cast Foundations), landscaping, breeze ways and other services needed to complete your home. As a company that prioritizes its customers, Legendary Homes allows you to customize your home. And most importantly, we assist in modular homes financing by working with the top lenders in Michigan.”

It’s amazing news to start building your dream home, right? “We can make your dreams a reality!”

Topic: Modular Home

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Legendary Homes Inc
10197 S Meridian Rd US 127
Clarklake, Mi 49234
(517)206-2435
http://LegendaryHomesInc.com
Todd_Rutledge@LegendaryHomesInc.com

Located in Jackson County Michigan