Back to Glossary
Modular Home
January 19, 2023
Modular houses are residences produced in pieces or modules in a controlled manufacturing setting and then transported to the building site. They are built on stable foundations and finished by expert installers there. Modular houses may save building time by more than 35%, allowing you to move into your new home sooner and enjoy it for longer. Site-built homes might take several weeks to build, but modular homes are erected on-site and typically completed in less than a week. Modular houses provide cost reductions that other methods do not. Because most modular construction takes less time to complete than site-built construction, the cost of interim construction finance is considerably lower or eliminated.
Related Topics
Payment and Debt Ratios
Home Value: Appraised, Estimated, Actual
How Much of a Mortgage Payment Goes to Principal
What Do Underwriters Do?
What Does Loan Underwriting Mean
Loan To Value and Down Payments
What is Underwriting in Real Estate?
Homeowner's Guide: DIY Home Improvement