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GEORGIA MODULAR HOME LENDERS

WHAT IS A MODULAR HOME?

A Georgia modular home, unlike a Georgia manufactured (mobile) home, is a home that adheres to the same construction codes as a site-built home. Georgia modular homes are typically constructed at a manufacturing plant or facility, in 6 or more pieces, and then transported to a permanent site on a flatbed truck to be assembled on a permanent foundation. Georgia modular homes are often confused with manufactured homes. Modular homes resemble traditional single family homes and, unlike manufactured homes, do not have a HUD tag.

FHA+VA GEORGIA MODULAR HOME LENDERS

GEORGIA FHA MODULAR HOME LOANS HAVE MINIMAL DOWN PAYMENT AND CLOSING FEES: 

  • Down payment only 3.5% of the purchase price. 
  • Gifts from family or Grants for down payment assistance and closing costs OK! 
  • Seller can credit buyers up to 6% of sales price towards buyers costs. 
  • No reserves or future payments in account required.
  • FHA regulated closing costs. 

GEORGIA FHA MODULAR HOME MORTGAGE ARE EASY TO QUALIFY FOR BECAUSE YOU CAN: 

GEORGIA FHA MODULAR HOME LENDERS ALLOW HIGHER DEBT TO INCOME & EASIER JOB QUALIFYING 

  • FHA allows higher debt ratio’s than any other Georgia home loan programs. 
  • Less than two years on the same job is OK! 
  • Self-employed buyers can also qualify for FHA. 
  • Check Georgia FHA Mortgage Articles for more information.

Modular homes also called prefabricated homes, differ from Georgia manufactured or mobile home, in two ways. First, Georgia modular homes do not have axles or a frame, meaning that they are typically transported to their site by a flatbed truck. Secondly, Georgia modular buildings must conform to all local building codes for their proposed use, while Georgia manufactured or mobile homes, made in the United States, are required to conform to federal codes governed by the U.S. Department of Housing and Urban Development more commonly known as HUD. There are some residential modular buildings that are built on a steel frame referred to as on-frame modular that do meet local building codes and are considered modular homes, rather than mobile homes.

PREFABRICATED MODUALS DELIVERED AND CONSTRUCTED- Modular components to the home are typically constructed indoors on assembly lines. Module construction may take a few days or months to complete. The completed modules are transported to the Georgia home site and assembled by a crane. Placement of the modular home modules may take from several hours to several days.

GEORGIA MODULAR HOME ADVANTAGES- Georgia modular home buildings are argued to have advantages over conventional buildings, for a variety of reasons. The speed of Georgia modular home construction is a faster return on investment. Modular construction allows for the building and the site work to be completed simultaneously. According to some materials, this can reduce the overall completion schedule by as much as 50%.

MODULAR CONSTRUCTION IS COMPLETED INDOOR- Georgia modular home construction and assembly is independent of weather, which can increase work efficiency and avoids damaged modular building materials.

Ability to service remote Georgia modular home locations. Particularly in rural Georgia areas in which potential markets may be located far from industrial centers, there can be higher costs to build a site-built house in a remote area or an area experiencing a construction boom.

Low waste. With the modular home materials always the same, the manufacturer has records of exactly what quantity of materials are needed for a given job. While waste from a Georgia site-built dwelling may typically fill several large dumpsters, construction of a Georgia modular dwelling generates much less waste.

WHATS THE DIFFERENCE BETWEEN A GEORGIA MANUFACTURED HOME VS. MODULAR HOME? Differences include the building codes that govern the construction of the home, the types of material used and how they are appraised by banks for Georgia mortgage approvals. The codes that govern the Georgia construction of modular homes are exactly the same codes that govern the Georgia building codes of site-constructed homes. In Georgia all modular homes are constructed according to the International Building Code (IBC), IRC, BOCA or the Georgia  code that has been adopted by the jurisdiction.

DIFFERENCES BETWEEN GEORGIA MANUFACTURED, MOBILE AND MODULAR HOMES- Georgia mobile home should have a small metal tag on the outside of each section. If you cannot locate a tag, you should be able to find details about the home in the electrical panel box. This tag should also reveal a Georgia homes manufacturing date. Georgia modular homes do not have metal tags on the outside but will have a dataplate installed inside the home, usually under the kitchen sink or in a closet. The dataplate will provide information such as the home manufacturer, third party inspection agency, appliance information, and manufacture homes build date.

Typically, modular dwellings are built to local, state or council code, resulting in dwellings from a given manufacturing facility having differing construction standards depending on the final destination of the modules. For example, homes built for final assembly in a hurricane-prone, earthquake or flooding area may include additional bracing to meet local building codes. Steel and/or wood framing are common options for building a modular home.

Some US courts have ruled that zoning restrictions applicable to Georgia mobile homes do not apply to Georgia modular homes since modular homes are designed to have a permanent foundation. Additionally, in the Georgia the valuation differences between Georgia modular homes and site-built homes are often negligible in real estate appraisal practice; Georgia modular homes can, in some market areas, (depending on local Georgia appraisal practices per Uniform Standards of Professional Appraisal Practice) be evaluated the same way as site-built dwellings of similar quality.

STRENGTH OF GEORGIA MODULAR HOMES- Modular homes are designed to be stronger than traditional Georgia homes by, for example, replacing nails with screws, adding glue to joints, and using more lumber than conventional Georgia housing. This is to help the modules maintain their structural integrity of the home as they are transported on trucks to the construction site; nevertheless, it is hard to determine the final building strength since the modules need to endure transportation stresses that traditional Georgia homes never endure.