Since the banking meltdown in 2008, the banking rules have changed dramatically and continue to change almost weekly. In the past we had “national” mortgage lenders serving the new construction market. Today you have to seek out local banks.
  • Modular construction should be part of any bank’s “construction portfolio”.  Although the normal construction “draw down schedule” for a modular does vary from an on-site-build draw down schedule, the modular draw down schedule actually provides greater security for both the buyer and the bank and is less costly to administer.  As such, the modular is actually preferred by most of the knowledgeable banks.
  • Any bank which provides construction lending should be able to provide lending for your “modular” project.
  • Hallmark will provide you with the customary payment documents for your project and for the convenience of your bank.
  • Hallmark has provided a convenient budget / estimate form (Hallmark Project Cost Sheet, form CD100).  Feel free to use this form for your budget development and submittal to your bank.
  • Feel free to have your bank contact us for any specific questions they may have. 
Despite the banking turmoil, we have had “positive” experience with the following banks. Feel free to contact them or use any bank with which you have developed a positive relationship. 
1. SUSQUHANNA BANK (DE, MD, NJ, PA, VA, WV) – Greg Ebersol
            Ph: 717-285-6605
2. SalemFive (RI, MA, NH, ME) – Mark Butler
Ph: 978-273-7220