Prefab Homes in Canada: What to Know About Financing Your Build

Across Canada — and especially in regions like the Lower Mainland, Vancouver Island, BC Interior and the Sea-to-Sky Corridor — more homeowners are turning to prefabricated and modular homes for faster build times, improved efficiency, and contemporary design.

At Lane One Homes, we’ve seen first-hand how prefab construction is reshaping the housing landscape. But while prefab homes can streamline your build, getting a mortgage or financing that fits isn’t always simple.

Here’s what to know about prefab home financing in Canada, and how the land, home type, and build stage can impact your options.

Why Prefab Homes Are Rising in Popularity

Prefab or modular homes are constructed in factory settings, then transported to your property for quick on-site assembly. This method reduces weather delays, shortens build times, and ensures consistent quality control — all while maintaining energy efficiency and minimizing waste.

For many homebuyers, this means faster occupancy, cleaner construction sites, and modern, high-performance living spaces. Lane One Homes specializes in steel-frame prefab construction, offering homes that are strong, durable, and beautifully designed to handle the unique demands of British Columbia’s climate.

Prefab Homes Explained: Mobile, Manufactured, and Modular

Not all prefab homes are created equal. Here’s a breakdown of the main types — each with its own financing implications:

• Mobile homes – Built before 1976, typically on a steel frame, and movable between sites.

• Manufactured homes – Post-1976 models that meet CSA certification standards for safety and quality.

• Modular homes – Built in sections or “modules” that are assembled on-site and permanently affixed to a foundation.

Modern modular homes bear little resemblance to the “trailers” of decades past. Today’s designs are sleek, customizable, and comparable in style and quality to site-built homes, often exceeding traditional builds in energy performance and precision.

Financing Prefab Homes: The Land and Build Stage Matter

When it comes to securing a prefab home mortgage, two main factors determine your options: land ownership and construction stage.

• If you own the land: You may qualify for a traditional mortgage, similar to a site-built home.

• If the land is leased: You’ll likely need a chattel loan, which treats the home as personal property (like a vehicle) instead of real estate.

Chattel loans tend to carry higher interest rates and shorter repayment terms, but they can make prefab ownership possible in land-lease communities.

For homes still under construction, a draw or construction mortgage may be required until installation is complete and the home is permanently placed on its foundation.

Are Prefab Homes More Affordable?

Prefab homes can often be 10–40% less expensive than traditional builds, depending on design, finishes, and land costs. Modular homes with premium materials may cost closer to a conventional home, but the savings on build time, waste reduction, and energy efficiency often balance the scales.

Keep in mind that additional costs — such as appraisals, CSA certifications, and loan registrations — can add to your total, so it’s important to plan your financing strategy early in the process.

Why Lane One Homes Prefab Builds Stand Out

At Lane One Homes, we specialize in steel-frame modular homes built for the Whistler and Sea-to-Sky region. Our homes are engineered for strength, efficiency, and year-round comfort — with build timelines averaging just four months from foundation to finish.

By managing most site preparation and utility hookups in-house, we ensure smoother project coordination and shorter delays — making prefab construction a smart, streamlined path to homeownership in BC.

Whether you’re building a single-family residence or a multi-unit prefab development, our experienced team helps navigate everything from permits to completion.

From Factory Floor to Front Door

Financing a prefab home isn’t one-size-fits-all, but understanding your options early helps you avoid surprises later.

Owning your land, working with a qualified builder, and ensuring your home meets CSA standards are key steps to securing the best mortgage rates and terms.

At Lane One Homes, we believe prefab and modular builds represent the future of Canadian housing — blending efficiency, durability, and design flexibility into one modern solution.