Types of Loans for Homes

Not all homes are built from the ground up. If you were ever a fan of Mrs. Piggle-Wiggle as a child, you’ll know that some houses are, indeed, built from the roof up instead. All kidding aside, there’s truly more than one way to build a house. Have you ever seen a house going down the freeway on a flatbed truck? Ever wondered what that was about? Today, let’s chat about two types of homes that you might see zooming down the freeway – modular and manufactured – and the differences between them.

What’s a Modular Home?

A modular home is a home that’s built in a factory and shipped to the homeowner’s lot, where it is pieced together, put on a foundation and completed. Like traditional homes, modular homes are placed on a permanent foundation and often have full basements. While the building process differs quite a bit from that of traditional homes, you’d be hard-pressed to identify a modular home just by looking at it. They can come in all sorts of layouts and designs, from a sprawling ranch or cape cod to a two-story colonial.

So why would you buy a modular home? There are many benefits to having your home constructed off-site. First, choosing a modular home over a site-built home can help you move into your new home faster. According to Tidewater Custom Modular Homes, conventional, site-built homes can take anywhere from six months to a year for completion, whereas modular homes allow homeowners to move in anywhere from two to three months after signing the contract – a pretty speedy process, if you ask me!