Financing Your Modular Home

With Turnkey Services from Yates Homes

Buying a new home, whether it be a modular home or a more traditional “stick-built” home, requires a lot of effort, and it is important to do your homework as thoroughly as possible to ensure the process goes as smoothly as possible. At Yates Homes, we strive to make the process as easy as possible, and we go out of our way to help guide you through it. Below, you will find key information regarding the home financing process: the Yates Homes guide to financing.

1. Get Your Finances in Order

Your specific financial situation will dictate how much money you can mortgage as well as how much money you will have for a down payment, fees, moving expenses, and more. It is absolutely critical for a prospective homeowner to assess their monthly income and expenses carefully to determine how much you can afford to spend on your new modular home.

While not all states require you to seek pre-approval from your lender, it is an excellent idea to get your pre-approval documents in order even if you’re not required to do so. Having pre-approval can be used as leverage when making a bid on a property, and it gives you a noticeable advantage over those who do not have a letter of prequalification.

Be sure to ask us about our preferred lenders if you require: we can provide a list for you to select from. We also handle your permitting and other legwork with the county to make the process as easy as possible.

Pre-Approval and Pre-Qualification

It is important to understand the distinction between preapproval and prequalification when it comes to securing a home loan.

Pre-qualification is achieved by submitting general information about yourself and your financial situation to your lender. Based on that information, your lender will issue a pre-qualification loan amount (which is not guaranteed) to help you get an idea of what you’re going to be able to afford. It is important not to mistake pre-qualification for a letter of approval for a specific loan amount.

With pre-approval, you submit more detailed information to your lender—including W-2s, bank statements, and pay stubs—and pay for a credit report. Once your lender reviews your credit report, they will choose to provide you with a specific interest rate for your loan in addition to a truth-in-lending statement. This statement outlines the exact cost of your loan and exactly what would be required to close the purchase. With pre-approval, you know exactly what your lender is going to do for you, and you can rest assured that your loan will be ready when the time comes.

2. Choose Your Location

The size, shape, topography, and utility considerations surrounding your property are all very important to consider. Yates Homes is capable of helping you find land in Pittsylvania County, VA, but we recommend talking with a realtor to find just the right property in the location you want. If your property will need site improvements, including land preparation, clearing, road cutting, paving, well and septic, foundation work, etc.: Yates Homes can handle it all as a Class A Contractor, saving you time, hassle, and money.


We encourage you to check with your local authorities—be it at the city, county, and/or state level—to find out what zoning ordinances will apply to any property you’re considering and determine whether you can build the type of home you want there before committing to buy.


If you must drive across an adjoining parcel to access your land, you will need to obtain an easement. We recommend you find out who maintains the roads and what your prorata share might cost for upkeep. Also try to determine what rights your neighbors will have to cross your land and whether or not your boundaries are clearly marked. Obtaining title insurance will disclose easements and restrictive covenants or conditions. You may even want to order a survey of the land.


All of your new home’s utilities must be considered: public sewer or septic system? public water or well? Is there a local electricity provider? How high is the water table? Is the ground mostly rock? Are there communications services providers in the area for telephone, TV, Internet, etc.? It is essential to have a plan for all of your utilities before you proceed.


It is advised that you obtain an independent appraisal on a property before you agree on a price with the seller, especially if you’re paying cash. If you are financing the land purchase through a lender, the lender will require an appraisal before giving approval.

3. Select Your Floor Plan and Personalize It

Once you have considered all the variables in terms of financing, property concerns, etc., you should visit and tour our model homes and meet with our expert consultants to determine the ideal floor plan for you and your property in addition to the options and customization you can afford. At this point, we will provide you with an estimate that will reflect the approximate cost of your new home.

Deposit, Property Inspection, & Secured Construction Quotes

After you have established the location where we will build your new modular home and you make a deposit, a property inspection is performed to determine how much land improvement work may be required to secure firm construction bids. Once this part of the process is out of the way, we will be able to provide you with a final quote with actual pricing for your modular home.

4. Construction

After you finalize your floor plan, style, and options and receive loan approval, we submit the plans for your new modular home to our factory. While the factory is producing the sections of your new home, we will work to prepare the land for construction, pour footers, and build your foundation or basement walls. Homes with basements generally have these floors poured after the house is delivered.

After your modular home is constructed on its foundation, we complete all of the exterior siding and/or brick work, hook up your utilities and plumbing, and then complete the needed work on your driveway and the sidewalk leading to your front porch. The last steps are to grade your yard, plant grass, and complete your landscaping.

5. Closing of Contract

Once your new modular home is completed, we secure all final inspections to ensure your new home receives a Certificate of Occupancy. Once this certificate is received, we consider your contract closed, and you are ready to move into your new custom modular home!

What People Are Saying About Their Experience with Yates Homes

Testimonial Image from: Tom & Jo Amato

Five Star rating across the board!

We have had a wonderful experience (start to finish) with everyone at Yates. I sent an e-mail earlier in the week letting all know how much we really appreciated everyone. I think we met or spoke with most of you staff and everyone was more than helpful with any questions we had.

Your folks definitely make this painless (for us anyways) as possible and we are truly grateful.

Five star rating across the board!

Tom & Jo Amato North Carolina

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Testimonial Image from: Gloria Gibson

"I love my new home!"

I love my new home! I have received so many compliments. One couple in particular wanted to come by and see how we customized the outside. They also wanted a 2 story house and couldn’t visualize how it would look. They asked us about our experience with the home process. This couple is now purchasing a new home from Yates!

My home is “comfortable” and I got the kitchen I was dreaming of! Thank all of you at Yates Home Sales!

Gloria Gibson

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Testimonial Image from: Jason and Keturah Yancey

"...expertise and professionalism..."

We would like to thank Yates Home Sales for their expertise and professionalism with our new home. Our sales representative was very knowledgeable of her job and she knew what we wanted for our first home. We had toured many modular dealers but, my heart kept leading me back to Yates. The staff that built our home and the workers that put it together was on point with everything. We were never left with unanswered questions. Their tour homes is well kept and beautifully decorated inside so you as a customer can actually see yourself living in one of the modulars. That’s when my husband and I decided that Yates Homes was the place to go to have our home built.

So thanks to the staff at Yates for a job well done and a special thanks to our sales representative Lydia Gibson.

Jason and Keturah Yancey

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Testimonial Image from: Tim and Renee Hearp

"We are very pleased..."

We are very pleased with our beautiful Yates home. The staff was very helpful and patient as we planned our custom built modular home. Since we had recently lost our first home to a fire we needed to move quickly to rebuild and move back on our land. Yates worked very hard to have our family in our new home as quickly as possible.

Tim and Renee Hearp

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Testimonial Image from: Burt and Andra-Scearce

"I proudly tell them Yates..."

I wanted to take this opportunity to write a thank you letter. My family really enjoys our beautiful home. I want to especially thank CR Yates for working with us to resolve any issues or concerns. When someone ask who built my home, I proudly tell them Yates Home Sales. If I build another house in the future, Yates Home Sales will be my first Choice.

Burt and Andra-Scearce

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Testimonial Image from: Tim and Teresa-Boelte

"...we highly recommend them..."

My wife is a nurse and I handle warranty claims for one of the largest companies in Southside Virginia. We both work in fields where we know how important customer service is and should be. We don’t mind one bit telling anyone about our experience with Yates Home Sales. In fact, we highly recommend them to anyone that asks about our home. If you are in the market for a new home, go by and meet Lydia, Scott, C.R. and everyone else at Yates Home Sales. Then go look around at other places. If a top notch home, honesty and customer service are what you are looking for, I’m willing to bet that you end up right back where you started.

Tim and Teresa-Boelte Virginia

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Testimonial Image from: Mike and Janet Wanless

"...professional and efficient..."

We enjoyed working with the friendly sales staff at Yates Home Sales during our home purchase. They listened to our questions and helped us choose a home that fits our lifestyle. The Yates employees were professional and efficient, and maintained a low-key sales approach. At no time were we pressured or rushed to make decisions about our new home. Thanks to Yates Home Sales, we are living in our dream home.

Mike and Janet Wanless

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Testimonial Image from: Jonathan Manley

"My family and I are so pleased..."

My family and I are so pleased with our new home from Yates, I cannot say enough about the quick and courteous service we have received! The entire process of buying our home was made easy by the excellent staff at Yates and the service after the purchase has been great! We had one small problem with our plumbing after we moved in and the service staff from Yates was on it and had it repaired very quickly with absolutely NO FUSS. In times when good products and service seem to be getting hard to find, Yates Homes stands out as a great local company! I would recommend Yates Homes to anyone who is in the market for a well-built modular home – sold by people who care about the customers they serve!

Jonathan Manley

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North Carolina

  • 3901 Durham Road
  • Roxboro, NC  27574
  • Phone: (336) 597-4663
  • Fax: 336-597-4669


  • 5940 U.S. 29 Business
  • Blairs, VA  24527
  • Phone: (434) 836-4215
  • Fax: 434-836-8116

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Yates Homes is one of the leading builders of premium modular homes in North Carolina and Virginia, offering top-quality modular home building services with a special emphasis on providing personal customer service and unmatched satisfaction.