Simplified Financial Guide
How to Finance Your Home MOODUL
Everything you need to know about mortgages, loans, and financing for your modular home. Explained clearly, without unnecessary technical jargon.
Can a MOODUL modular home be mortgaged?
Short answer: YES, absolutely
MOODUL modular homes are fully mortgageable because they meet all the legal, technical and urban planning requirements of a conventional new construction home.
Why is it mortgageable?
- It requires a municipal building permit, just like any other dwelling.
- It is built on a permanent foundation on your plot
- It has a basic and execution project signed by architects
- Upon completion, a final work certificate is issued.
- Obtains a certificate of occupancy
- It is registered in the Property Registry
What banks value
Financial institutions value several aspects of MOODUL positively:
- Fixed price that minimizes additional costs
- Predictable and short deadlines
- High energy efficiency (increases valuation)
- Superior build quality
- Full LOE guarantees
Types of financing available
Conventional mortgage
The most common option
Standard mortgage for primary or secondary residence. Allows financing up to 801% of the appraised value.
- Term: up to 30 years
- Financing: 80% appraisal value
- Requirements: Verifiable income
- Advantage: Lower interest rates
Construction loan
Ideal for self-builders
It is disbursed in phases according to the progress of the work. Upon completion, it becomes a conventional mortgage.
- Construction period: 12-24 months
- Phased disbursements
- Then: 30-year mortgage
- Advantage: You only pay interest during construction.
Mixed financing
Combining resources
Combine your own savings, the sale of another home, and bank financing to optimize conditions.
- Own contribution: 20-30%
- Mortgage: 70-80%
- Reduce your monthly payment
- Advantage: Better conditions
Step-by-step financing process
Phase 1: Initial Assessment
Phase 2: Application and study
Phase 3: Approval and signature
Total process time
From application to disbursement: 1-2 months Under normal conditions. During this time, MOODUL can continue to advance with the technical project to optimize deadlines.
Financial institutions that finance modular homes
Most Spanish banks and savings banks finance MOODUL modular homes. Some institutions with experience in this type of project include:
Traditional banking
- BBVA – Extensive experience in modular construction
- CaixaBank – Flexible Financing
- Santander – Mortgages for self-builders
- Sabadell – Specializing in new construction
- Bankinter – Competitive conditions
Savings banks and cooperatives
- Cajamar – Rural and Sustainable Financing
- Kutxabank – Focus on energy efficiency
- Unicaja – Regional presence
- Ibercaja – Support for efficient construction
- Laboral Kutxa – Advantageous conditions
MOODUL Council
Request quotes from at least three different lenders. Terms and conditions can vary significantly in terms of interest rates, fees, and associated requirements. MOODUL can provide you with contacts for lenders we have previously worked successfully with.
Comparison: Financing traditional vs. modular construction
| Aspect | Traditional Construction | MODUL |
|---|---|---|
| Type of financing | Construction loan + refinancing | Construction loan or direct mortgage |
| Loan duration for work | 18-24 months | 6-9 months |
| Disbursements | Multiple, according to certifications | 2-3 main disbursements |
| Interest during construction | 18-24 months interest | 6-9 months interest |
| Risk of cost overruns | High (need for additional funding) | Low (fixed price) |
| Bank valuation | Variable depending on execution | More favorable due to energy efficiency |
| Process complexity | High (follow-ups, certifications) | Media (more agile process) |
Documentation required for financing
Personal documentation
- Valid ID card or NIE
- Last income tax return (IRPF)
- Payrolls for the last 3-6 months
- Employment contract (if employed by someone else)
- Form 130 or 303 (if you are self-employed)
- updated work history
- Certificate of being up to date with Tax and Social Security
Project documentation
- MOODUL fixed budget
- basic and execution project endorsed
- Municipal building permit (or in process)
- Specifications
- Project timeline
- Expected energy certification
MOODUL provides you with all the necessary technical documentation.
Plot documentation
- Deed of ownership of the plot
- Simple note from the Property Registry
- Cadastral certificate
- Urban planning certificate from the town hall
- Property tax paid and up to date
- Certificate of encumbrances (if the plot has a mortgage)
Other supplementary documents
- Bank statements for the last 3-6 months
- Proof of savings/own contribution
- Declaration of other assets and debts
- Life insurance (may be required)
- Home insurance (mandatory for the mortgage)
Practical tips for getting the best financing
1. Prepare your financial profile well
Before applying for a mortgage:
- Reduce existing debts if possible
- Maintain job stability
- Accumulate visible savings in accounts
- Avoid applying for other loans
2. Compare multiple offers
Don't settle for the first one:
- Request at least 3 different offers
- Compare APR, not just interest rates
- Evaluate commissions and links
- Negotiate the terms
3. Be clear about your contribution
Plan your resources:
- Minimum 20% of the value + 10% expenses
- Greater contribution = better conditions
- Consider selling another property
- Don't spend all your savings
4. Understand the total costs
Beyond the monthly fee:
- Opening commission (0-1%)
- Appraisal (€300-600)
- Notary and registry fees (€1,000-€2,000)
- Mandatory annual insurance
5. Take advantage of MOODUL's benefits
Arguments for the bank:
- Fixed price, no surprises
- Guaranteed and short terms
- Energy certification A
- Lower risk of delays
6. Timing is important
Plan your time:
- Start banking as soon as possible
- Streamline procedures with MOODUL
- Have your documentation ready.
- Consider market timing
Do you need personalized advice?
At MOODUL, we guide you through the entire financing process. We have experience working with leading financial institutions and can advise you on securing the best terms.
