Explain the project clearly
Provide the lender with the factory contract, site contracts, approved plans, foundation information and evidence of provincial or local approval. Avoid ambiguous mobile-home terminology.
Lender policies differ by institution, province, loan-to-value and whether the borrower already owns the land.
Plan progress advances
Factory deposits may be due before a conventional site inspection can show value. Some programs or lenders use milestone-based advances, assignment of contracts or additional security.
Confirm how imported modules, taxes and currency will be handled in the cost-to-complete analysis.
Prepare for valuation
The appraisal should consider the completed permanent house and local comparable properties. Construction method may be less important than quality, size, site and marketability.
Keep certification, inspection and occupancy records for future refinancing and resale.
Apply this guide to a real project
For canadian financing and appraisal for modular homes, create a dated project note tied to the destination address and current drawing revision. Identify the authority, designer, factory or contractor responsible for each unresolved item. Attach the written evidence for ‘Has the lender reviewed the actual factory payment schedule?’ and ‘What evidence is required for off-site progress advances?’ rather than recording a verbal assurance.
Before a deposit, production release, shipment or final payment, convert every open question into a named action with an owner and deadline. Keep superseded drawings and decisions in the record so later inspectors, lenders, insurers and future owners can understand why the completed house differs from an early sales plan.
Questions to resolve before proceeding
- Has the lender reviewed the actual factory payment schedule?
- What evidence is required for off-site progress advances?
- How are cross-border payments and taxes treated?
- What records will support final appraisal and occupancy?