Panelized
Home Loan
Are you interested in building your own home, but are worried
about the rising price of an on-site built house? Are you
ready and willing to put some "sweat equity" into
your homestead by helping with its construction? If you've
answered yes to these questions, you may be interested in
learning about panelized homes. They are quality manufactured
homes that you can help design and build, and can be bought
with very little money out-of-pocket. In fact, many a panelized
home loan offers 100 percent financing.
A panelized home starts its life in a factory, much like
a modular home. The wall,
floor, and ceiling panels are all pre-made, and trucked to
the building site for construction. It's like putting together
a puzzle that can last for several generations. Many panelized
home companies let the owners partake in the design process,
so you can create a customized house that meets your needs.
Best of all, a panelized home can be far less expensive than
a traditionally built house--a 2,000 square-foot dwelling
can cost about $30 per square foot.
Most panelized home companies offer financing. Because they
allow the owner to build the house themselves, they allow
credit for "sweat equity." Some owners of panelized
homes have moved in with more than $40,000 of equity. Without
having to come up with a down payment beforehand. Some companies
offer a program that allows prospective owners to pay as little
as $1,000 out-of-pocket for their homes.
"Sweat Equity"--The Key to a Panelized
Home Loan
But what are you getting for your money? Because panelized
homes are initially constructed in a controlled environment--a
factory--the quality is very high. There's no risk of damage
due to inclement weather. And there is a big focus on quality
control and regular inspections. So don't spend the next six
months saving money for a down payment--you can qualify for
a panelized home loan with very little money upfront, and
spend those six months building your dream home instead.
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