Most customers purchasing an Expandify home do not use traditional construction loans, as these homes are not built in stages on-site like conventional homes.

Expandify homes are constructed offsite in a controlled factory environment and delivered fully manufactured as prefabricated structures. This eliminates the progressive drawdown structure required by standard construction loans. Because the home is built prior to delivery, banks often categorise this purchase as an asset loan or modular dwelling loan, rather than a traditional staged construction loan.

The most common loan types used by customers include:

• Asset loans for prefabricated structures
• Modular home loans from select lenders
• Personal loans or equity redraws (in some cases)

We recommend speaking with a finance broker early, as many banks still treat modular homes differently. Expandify can connect you with brokers familiar with offsite-manufactured housing who can structure the right loan product to suit your needs.

Construction loans are only appropriate in rare circumstances where a bank can verify the offsite build contract and accept the builder payment structure. This is not common, so customers should confirm with their bank or broker before assuming eligibility.