For the past several months, the federal paperwork regarding our new home has said “manufactured,” not “modular.” Not only were we perplexed as to why, but that one word was screwing up our entire closing. Friday, we found out why.
At the end of 2021, we had requested an increase in our loan due to the rise in building costs. The (new) loss verifier wanted an “apples to apples” comparison for our build. He told us that purchasing a modular home was “apples to oranges.” He requested an estimate for a manufactured home, which we happily provided, saying something to the effect that this was an estimate only. We intended to go through with getting the modular. The LV calls our sales rep, who isn’t available the minute he calls, so instead of waiting for a call-back, he calls the sales office to verify. And, that, folks, is where the snafu began.
Instead of ensuring the verbiage was correct, the LV was told that “manufactured” was right. I mean manufactured / modular, they’re almost the same, right? The floorplans and process for the model we selected are identical, and that particular home could be built as either. The materials and building rating are nowhere near the same. The kicker was when the estimate on the modular home came in almost $12K cheaper than the manufactured build. That blew my mind.
Tomorrow, we will make yet another flurry of phone calls to ensure we’ve been routed to the right track. I sure hope so. This bloody roller coaster ride isn’t doing my blood pressure a damned bit of good.