Turnkey Modular Homes
To help our customers save money and reduce stress throughout the modular home construction process, Hallmark Homes offers turnkey financing to all of its clients.
To put it simply, we will finance the cost of construction, from start to finish. With turnkey financing, there is no construction loan. Interest does not accrue during construction, there are no payments made while the house is being built, and there is less stress involved in managing the financial obligations of the home-building process.
And the reason is simple: in turnkey financing, the builder is not paid until the home is completed and you are handed the keys.
In the typical construction loan, the home-buyer often pays for interest that accrues during the home-building process. That expense would be in addition to the buyer’s monthly rent or mortgage payments as they await the home’s completion.
That doesn’t happen in a turnkey financing situation. The loan begins when you receive the keys to move in, making it a much more affordable and hassle-free process to build a home.
Before you can be given the keys to your new home, it must pass inspection by numerous parties, including a codes officer, your lender, and yourself. This ensures the home is built in accordance to strict rules and regulations, and only after it passes all of those inspections will you be given the keys and take ownership of the home and its turnkey loan.
With turnkey financing, you have more control over the outcome of the home, so you know your loan isn’t funding a home below your expectations or satisfaction.
Available Turnkey Loan Types
Turnkey loans are available in a wide range of options. The following loan types work well with our turnkey financing:
- Rural Development (Guaranteed or Direct)
If you are interested in more information, please contact us. We will happily make ourselves available at your convenience to further discuss the possibilities of turnkey financing.