Stick built homes...modular homes (approved for stick home)

Okay guys,

I am a little confused here. I am in Oklahoma, to me a modular is a two piece house that is built, moved and then together correct. What about a stick built home that is built from the ground up and then moved to the location. What I mean by this is the builder builds the house as one piece, it is then transported as one piece, the whole house and put on the foundation. That is not a modular right.

We were approved for up to 183,000. No money down...wooohoo..., by two different lenders. We can add closing costs or pay them, we will pay them.

Here in Oklahoma we can have a builder build us a 1820 square foot home, 4 bed 2 bath, beautiful ranch style home, do the foundation and all, move the house in one piece since it is build as one, not halves. It is turn key and live.

The total price for what I want plus my 15 acreas I will be financing will be $118,900 for a stick built home. If you go out and buy this same home and we looked at it on 5 acreas, asking price is 205,000.

I would not consider this a modular, but wonder if the lenders due. Just my curiosity.

Kelly

my thinking is if the house is brought in, in sections or other and stuck together on your land, then its a modular. If the materials (lumber, nails, dudes drinkin beer and laying shingles) comes to your land and builds it, then its a stick built.

Here is a link to some fairly descent explainations
http://www.propex.com/C_f_O_stickvsmanu.htm

As a lender, we look at Modular homes just like a Single-Family residence. THe only time you are going to run into problems are with trailers and mobile homes.