There’s some confusion when it comes to describing a modular home. Is it a manufactured home? Is it a stick built or site built home? Does it qualify for a traditional home mortgage? Here are a few ways to look at what a modular home is: It’s a site built (or traditional) home that is built in the factory It’s a manufactured home without the wheels It’s a kit home (packaged home) that doesn’t require you to build it 4. A modular home is often called a prefab home but not all prefab homes are modular homes. What you get when you buy a modular home is a traditional “site-built” type home that is pre-assembled in a factory in large sections (on average 2-5 sections.) These sections are then delivered and, using big cranes, placed and attached to a permanent foundation built on the building site. Modular homes qualify as “real” homes and earn the same appraisals (or home values) as other homes that are built completely on site, stick by stick. So in this sense, they can be considered “better” than manufactured, or mobile homes. And yes, they DO qualify for a regular home mortgage at the going interest rates.