Modular and RTM Home Loans: How Financing Works
How financing for an RTM (Ready To Move) or custom home differs from a mobile home loan, and what to ask your lender. Evolution Homebuilders is not a lender.
Short answer: an RTM (Ready To Move) home or a custom home on your land is usually financed like other new home construction, through a lender of your choice. A mobile (manufactured) home is often financed differently. Evolution Homebuilders is not a lender, so talk to a bank, credit union or mortgage lender about the options that fit you.
Why the type of home matters to a lender
Lenders look at what they're lending against. A home that's permanently placed on a foundation on land you own is generally treated differently from a mobile home on a chassis. That's why it helps to know which kind of home you're being quoted before you apply.
Questions to ask your lender
- Do you finance new home construction, and do you work with RTM (Ready To Move) homes?
- Can the land and the home be in one loan, or do I need two?
- What will you need from my builder, and when?
- How do payments to the builder work during the build?
- What down payment and credit range should I plan for?
What we can give your lender
Once you've chosen a design, we can share its floor plans and specifications with your lender. Most designs on Floor Plans also have a downloadable floor-plan PDF.
Where to start
Payment figures on our site are illustrations only, not loan offers. For a real answer, talk to a lender, and book a free 20-minute Home Vision Call with us to settle the design and starting price first.
