To assist you in listing construction property loan options, we've provided definitions for various property types commonly financed in this category. Understanding these terms will help you accurately present your services and connect with the right clients looking for construction financing.

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, and then delivering them to the intended site

Pre-manufactured

Prefabricated homes or pre-manufactured homes, often referred to as prefab homes or simply prefabs, are specialist dwelling types of prefabricated buildings, which are manufactured off-site in advance, usually in standard sections that can be easily shipped and assembled.