Many questions about concerns in financing modular homes, assessing modular homes and insuring modular homes come up in our conversations with people who are contemplating building.
 
Rest assured you will have no problems or issues. Many banks (and we have great relationships with many in Virginia if you would like the names of a few), like to finance modular homes. Why? The building process is so much shorter, and the system is so defined that there is little to no risk to the banks.

As far as assessing the value of modular homes; modular homes are assessed in the same way as traditionally built homes. Here is the good news: modular homes cost about 10-15% less to build, but they sell at the same price as a stick built home. Why? Custom modular homes are appraised with the same standards of a traditionally built home; therefore, both types of homes are assessed at the same amount.
 
Banks and insurance agencies both say there is no difference between stick-built homes and custom modular homes in terms of approval ratings, and cost.

Banks and insurers are well aware that modular home construction strength and building standards exceed that of traditional stick built homes.  There may even come a time where insurance companies take into consideration the higher structural integrity of a modular home and insure them at a lower rate.
 
However, until then, you can rest assured, modular home construction financing will not be a problem; modular homes hold their value in the same way as a traditionally built homes; and insuring your modular home will be no different either. Now that those questions have been put to rest, contact Tidewater Custom Modular Homes for more information.