Michelle Kaufmann Designs

Building a new home can be an expensive endeavor, especially when building a high-quality, architecturally designed home! In an effort to make clean, green living accessible to more people, we have chosen Prefab Construction as our primary means to build our well-designed, high-quality green homes. Why? Simply put: it is a better way to build. Not only is it better for the environment, but it offers a more predictable timeframe and cost.

If you are looking to finance your MKD home project, lenders will classify your project as new construction and will therefore offer a Construction Loan, which differs substantially from a traditional mortgage. Once construction is complete, your loan will be converted to a traditional home loan (mortgage).

Construction Loans are short term and often structured as interest-only lines of credit. They are distributed in disbursements, or "draws," as work on the project is completed, so it is important that you choose a financial institution that can accommodate the draw schedule associated with factory construction. Typically, most factories require approximately 25% of the cost of the modules to start construction, an additional 50% at the halfway point, and the remaining 25% when the modules leave the factory. The specifics for the remaining draw schedule for site-built portions and button-up will be determined as your project moves forward.

In order to secure your Construction Loan, you will need an estimate of the amount you will need to finance. To help understand the typical costs of prefab home construction, please refer to our budget builder.

MKD Budget Builder

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If you would like assistance, please contact info@mkd-arc.com.