For manufactured and modular home dealers

Land-home construction loans

These loans are harder than home-only deals. Knowing who to hand them to shouldn't be.

One-time close land-home loans in six Southeast states

One call tells you where your buyer stands

Our team handles the draws, through the final one

Send Us a Buyer Run a Deal by Us

or call (423) 406-1567

The situation

Your buyer owns the land, or is buying it. The question is who to call.

When your buyer already owns land, or is buying it as part of the deal, the financing changes. Home-only financing is something you can settle in-house. But once the house is going on land the buyer owns, that's a different type of loan, and it's not something every lender handles well.

When these go wrong, it's usually the same way: someone who hasn't done many takes one on, the draws get messy, and the dealership ends up chasing money it's owed. That's usually why a dealership stops taking land-home deals.

You don't need to become an expert in land-home financing. You just need someone reliable to hand it off to, so your customer sees you as capable of getting the whole deal done, not just the part on the lot.

"On a loan for a house that's already built, everybody's work stops at closing. On these, that's about halftime. It doesn't really end until the final draw, and neither do we."

Tim Arrowood, Originating Branch Manager · NMLS #393468

Proof

What we can point to

7dealerships closing one-time close loans with us since 2023

If you're in the Tri-Cities, you probably know most of them. If you're not, they're a phone call away.

"Tim and his team at Preferred Rate consistently go above and beyond to ensure our customers at Clayton Homes of Norton are well taken care of. His commitment to excellent service makes every customer feel valued and confident throughout the process."

Lauren Ensley, Sales Manager, Clayton Homes of Norton · Google review, December 2025

"Tim Arrowood at Preferred Rate is absolute top-tier. From start to finish, his communication was seamless, fast, and completely transparent. Tim is incredibly thorough, taking the time to explain every detail of the process so you always know exactly where things stand and what to expect next."

Josh Daniels, Sales Manager, Clayton Homes of Johnson City · Google review, 2026

Reviews shortened for length. Nothing reordered or reworded.

The plan

How a referral works

1

Send them to us

If your buyer owns land or is buying some, send them our way. No pre-screening needed.

2

We reach out, using your name

We aim to contact your buyer the same business day, and we let you know once we've connected.

3

We stay to the final draw

Through delivery, setup, inspections, and the final draw, with updates you can forward to your manager.

Send Us a Buyer

Proof of the plan

What staying on it looks like

Land-home · FHA

An unexpected spring nearly stopped this build.

A well nobody planned for, a two-year wait for a driller, and a cost no one could price. Here's how it got built anyway.

Read the story

A borrower owned their land, and we understood it to have public water. It didn't. There was a spring nobody flagged, and FHA doesn't allow spring water.

The first driller quoted two years out. The GM at the dealership knew someone who could do it in a month, which is the only reason this story has an ending. That left cost, because nobody can price a well that hasn't been drilled. We spent two months working through how to carry it.

The driller agreed to drill before closing instead of after, which solved the timing and the cost question at once. The family moved into their home, and it's the kind of problem that only gets fixed when someone stays on it instead of walking away at the first obstacle.

Individual results vary.

Run a deal by us

Not sure a buyer will work? Run it by us.

Family land that needs to be deeded or split. A buyer who was told no somewhere else. A credit picture or down payment you're not sure about. Tell us the situation, and we'll give you an honest read on whether it can work and what it would take.

No names or paperwork needed. Just the situation.

Run a deal by us

Describe the situation in a few sentences. We'll get back to you with an honest read.

The agreement

What you can expect from us

✓

You get a prompt initial assessment

If it's a path we can do, we'll tell you what it takes. If it isn't, we'll tell you that and point you toward what fits, rather than sitting on it.

✓

Clear ownership at every stage

You'll know who has the loan and what comes next, with updates as it moves, including funding updates you can forward to your manager.

✓

A consistent team, not a queue

The same small team works your deals from start to finish, so you're never explaining the situation to someone new.

✓

We don't disappear at closing

We stay engaged through delivery, setup, inspections, and the final draw.

All loans subject to approval. Equal Housing Lender.

Programs

What we do, and how we'll route what doesn't fit

VA is usually where the conversation starts. We also do FHA and conventional one-time close.

VA one-time close

Usually where the conversation starts. Eligibility, entitlement, and construction-period interest handled up front. Subject to full qualification. VA construction loans.

FHA one-time close

For the buyer building without a large down payment. Down payment figures refer to the down payment only; closing costs and prepaids still apply. FHA construction.

Not every buyer belongs in a construction loan, and chattel is sometimes the right answer. Land situations vary too: family land can sometimes be deeded or subdivided, and ownership can sometimes be restructured. Send it over, and we'll tell you honestly which way it should go, including when the answer is that it belongs somewhere else. More on manufactured and modular financing.

Your buyer doesn't need a parcel yet

Send them before they go looking. We'll work up what they may qualify for, so they know the total and what's left over for land and site prep. A buyer shopping with a number in hand tends to find something that works.

Subject to full qualification.

Who you're working with

A small, dedicated team

  • Tim Arrowood
  • Cindy Faulkner
  • Kevin Cooper
  • Rhonda Hendrix
  • Amy Lay

The same small team works every loan you send us, from the first call to the final draw. You'll never be explaining a deal to someone new, and nobody will bounce you around.

Tim Arrowood (NMLS #393468), who leads the team, will also come to your dealership to train your sales team on how these loans work, build your dealership a page your buyers can read before they call, and get flyers into your team's hands. No charge and no pitch.

Available 8:30 AM to 6 PM, Monday to Friday · (423) 406-1567

Already working with us? Partner Resources shows who handles each stage of a deal, plus the forms and draw details.

FAQ

Frequently asked questions

Do you work with HUD-code and modular homes?
Yes, as real-property construction when the foundation, the land, and the program fit. Read more about manufactured and modular financing. Chattel on rented land is not the product here.
What if my buyer doesn't own land yet?
Send them before they go looking. We'll work up what they may qualify for so they know the total number and roughly what's left for land and site work. A buyer shopping with a real number tends to find something that works. Subject to full qualification.
What does my buyer have to do to get started?
Send them to us. We aim to reach out the same business day and sort out the path. You don't have to pre-screen anyone. The first conversation is free and doesn't commit anyone to an application.
How do draws work on a manufactured home?
On a manufactured or modular home it's a 10/80/10 structure: 10% at closing, 80% on delivery, 10% on completion. Our team handles every draw request from the signing table through the final one. You send the signed draw documents, and we take it from there. Full details are in the Partner Resources.
Who do we call about an active loan?
Our team handles different parts of your deal: getting it started, pre-approval and structure, contract to closing, and draws through post-closing. Wherever your loan is, reach out and we'll make sure the right person picks it up. We're available 8:30 AM to 6 PM, Monday through Friday, and nobody will bounce you around.

Send us a buyer

Send them to us. We'll take great care of them.

If your buyer owns land or is buying some, and it's anywhere close to a one-time close, send them to us. We'll sort out which way it should go. That's our job, not yours.

Your message reaches the whole team, so it isn't sitting with one person. Read client and partner reviews.

Send us a buyer

We just need enough to reach your buyer. You don't need to sort anything out first; we'll take it from here.

All loans subject to approval.