Understanding Finance for Modular Homes

A practical guide in collaboration with Evoke Living Homes and Amanda Beer

Modular homes are becoming an increasingly popular way to build, and with that comes a growing number of questions around how finance works.

With extensive experience helping clients across the Wheatbelt, Amanda Beer has supported many people through the process of securing finance for modular home projects. Below, she shares answers to some of the most common questions.

Can You Get a Home Loan for a Modular Home?

Yes, in most cases, you can.

Many lenders will treat modular homes in a similar way to traditional builds. Approval generally depends on a few key factors, including:

• The builder involved
• Whether the home is permanently fixed to the land
• If the property meets the lender’s valuation requirements

With the right structure in place, modular home finance can follow a very familiar pathway.

Are Modular Homes Harder for Banks to Approve?

Modular homes can involve a few additional considerations, but they are regularly financed.

Lenders simply want to ensure that the finished home meets standard residential criteria. This includes confirming that:

• The home will be permanently affixed
• The project has council approval
• The build is completed by a reputable builder

There are a smaller number of lenders who specialise in this space, which is why working with someone who understands the process can be helpful.

How Does the Loan Work During Construction?

Modular homes are typically funded through a construction loan, similar to many new builds.

Before construction begins, a deposit is typically required, with the remaining funds structured through the loan.

However, the way funds are released can be more straightforward. In many cases:

• There is one progress payment
• This is made at the end of construction

This occurs once:

• The home is delivered and permanently affixed to the land
• All services are connected

Because the majority of the build happens off-site, this structure aligns with how modular homes are delivered and installed.

What Amanda Sees Most Often

Through working with a range of clients, Amanda has seen that:

• Modular homes are becoming more common across the region
• Many clients are able to secure finance with the right lender
• Understanding the process early helps avoid delays later

With access to over 60 lenders, she works with clients to find options that suit their individual situation and goals.

About Amanda

Amanda Beer has been part of the Wheatbelt community for over 26 years, building strong local relationships and helping clients navigate their path to home ownership.

She is known for her focus on customer service, taking the time to understand what each client wants to achieve and creating a clear, practical plan to help them get there.