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Custom-built industrialized and prefabricated steel homes
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Home › Guide › Mortgages and Financing
Funding
A prefabricated steel house anchored to its foundation, with a building plan and permit, is a home just like any other, and can be financed with a mortgage. The most common type is a self-builder mortgage, which the bank disburses in installments as construction progresses.
First of all
The bank will only provide a mortgage for a single property. A StarModul home qualifies as such when it meets the same requirements as a conventionally built home:
The structure is attached to a permanent foundation: a slab, footings, or a crawl space. It is not a module on wheels or a mobile home.
Architect's plans and building permit from the city. See the permit guide.
Banks usually require that the land be registered in your name, free of encumbrances, and located on urban or developable land. If your lot is rural, see “House on Rural Land.”
Upon completion, the new construction is declared before a notary and registered, along with the certificate of occupancy or the first-occupancy permit.
Self-builder Mortgage
This is a mortgage for people who are building their own home on land they already own. Unlike a home purchase mortgage, the money is not disbursed all at once:
Each bank sets its own terms. This page is a general guide: compare offers and ask for an explanation of each point before signing.
Papers
| Land | A simple extract from the Land Registry, in your name and free of encumbrances. |
|---|---|
| Project | Architectural plans, approved by the professional association or city government if required. |
| Permit | Major construction permit from the city council. |
| Quotation | Construction budget broken down by project phase. We'll provide you with a detailed breakdown. |
| Insurance and Certificates | Some banks require a ten-year warranty and, upon completion, an energy efficiency certificate. |
| Your Information | Pay stubs or tax returns, employment history, and savings to cover the portion not financed by the bank. |
Prefabricated Homes
Part of the house is manufactured before it arrives at the lot. Ask the bank how it certifies that phase, because some banks only release funds once the materials have been assembled on-site.
In Lleida and Tarragona, turnkey projects have a fixed price and a single point of contact, which simplifies the appraisal and certification processes.
The house is completed in about 3–4 months from the start of construction, so the grace period is also shorter.
If you buy the kit and build it yourself, check with the bank to see how they finance the materials. Find out how self-build projects using a kit work.
Specifications, drawings, and system data sheets for the appraiser, included in the technical documentation.
If you don't have a lot yet, some banks offer financing for both the land and construction, or you can finance the lot separately. Ask your bank what options are available.
Yes, if it is anchored to a permanent foundation, has the necessary plans and permits, and is registered in the Registry like any other home. Mobile homes or homes on wheels cannot be mortgaged.
According to industry guidelines, it is typically between 70% and 80% of the lower of the budget or the appraised value of the completed home. Each bank sets its own percentage.
For a self-builder mortgage, the answer is usually yes: the property must be in your name, registered, and free of liens. If that’s not the case, ask about mortgages that finance both the land and construction, or about financing the land separately.
In phases, as the work progresses, against certifications signed by the project management team. The final payment is made upon completion.
We provide you with a detailed cost estimate and the system's technical documentation. The project, building permit, and construction certifications are the responsibility of the architect and the project management team.
Free, No-Obligation Quote
Now that you have a detailed budget, you can go to the bank. Send us your idea or your plans and tell us where the lot is located.