Below are some definitions to help in your search to find lenders for construction properties.
Single Family (1 Unit)
This home is built as the residence for one family, person, or household, whose owner has an undivided interest in the unit.
Multi-Family (2-4 Units)
A multi-family home is a single building that’s divided to accommodate more than one family living separately. They can range from a duplex, which has two dwellings within a single building, to homes or small apartment buildings with up to four individual units.
Mobile
A dwelling structure built on a steel chassis and fitted with wheels that is intended to be hauled to a usually permanent site.
Modular
A modular building is a prefabricated building that consists of repeated sections called modules. Modularity involves constructing sections away from the building site, then delivering them to the intended site.
Pre-manufactured
Prefabricated homes or pre-manufactured homes, often referred to as prefab homes or simply prefabs. These are normally manufactured off-site in advance, and in standard sections that can be easily shipped and assembled.
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