Mortgage Calculator
This mortgage calculator is designed for modular and custom home buyers who want clarity before they commit. Use it to estimate monthly payments based on real pricing, loan terms, and down payment scenarios for turnkey homes built by Homes By Covenant across Central New York.
Homes by Covenant
Licensed • Insured • Code-Compliant
Construction Experts
Estimates shown are for planning purposes only. Final payments vary by lender and underwriting.
Erika Plumpton
Mortgage Loan Officer | NMLS# 1759409
With years of lending experience at AmeriCU Credit Union, Erika Plumpton helps families throughout Central New York find the right financing path for their new home or renovation. Specializing in modular-friendly, FHA, VA, construction loans, and land-home loans, she provides honest guidance, fast approvals, and clear communication from application to closing. Your construction loan begins here and will be the smoothest process you can experience.
Streamlined Modular Construction Financing
With Erika Plumpton at AmeriCU
Your financing journey begins with a lender who understands modular construction. Erika Plumpton at AmeriCU Credit Union specializes in construction-to-permanent loans, land-home packages, FHA, VA, and modular-friendly programs tailored specifically for new builds in Central New York.
Unlike traditional mortgage lending, modular construction requires coordinated draw schedules, factory deposits, foundation timelines, and inspection sequencing. Erika works directly with Covenant to align financing milestones with construction phases, helping ensure a smooth transition from pre-approval through final closing.
What Happens
You begin with a straightforward pre-approval conversation focused on your total project budget — including home price, site work, land, and soft costs. Together, you’ll review modular-compatible lending programs and determine the most efficient structure for your build.
You’ll receive:
• A clear construction-to-perm financing strategy
• Loan options for modular, FHA, VA, renovation, and land-home builds
• Direct coordination between AmeriCU and Covenant during construction
• Transparent guidance from application through final funding
By partnering with AmeriCU and Covenant, clients benefit from a connected system where financing and construction move forward together — not independently. That alignment reduces delays, protects timelines, and provides clarity throughout the building process.
Why Modular Construction Loans Are Different
Before you begin your pre-approval, here’s what makes modular financing unique.
Modular construction financing is not the same as a traditional resale mortgage. Factory-built homes require coordinated draw schedules, foundation timing, delivery sequencing, and lender-approved inspections that align with both manufacturing and on-site construction phases.
Unlike standard home purchases, modular builds often involve:
• Structured factory deposit schedules prior to production
• Coordinated crane-set and installation milestones
• Appraisal timing based on approved modular plans
• Construction-to-permanent loan conversion after completion
• Land-home package structuring when land is financed with the build
Because Covenant works directly with modular-friendly lenders, financing and construction timelines are aligned from the beginning. This reduces delays, protects build schedules, and provides clarity throughout the entire process.
When financing and construction operate under one coordinated system, clients avoid miscommunication, overlapping approvals, and unnecessary underwriting surprises.