Manufactured and Modular Home Financing

Initiative will educate the benefits of manufactured housing in the aftermath of the deadliest and most destructive wildfire in the state’s history. Guild Mortgage, a mortgage lending company, has announced the first two homes from its Making Paradise Home Initiative are available for sale in [...]

Sometimes families decide to buy a manufactured home because they are more affordable than traditional site-built homes. However, that affordability is based upon the original sales price and not necessarily found in the financing of the manufactured home. Now a partnership between RBC Mortgage [...]

On November 2, the FHA released a mortgage letter (ML) updating the sales comparison approach for manufactured homes. The update to the FHA’s rule affects how real estate appraisers will now appraise manufactured homes using the sales comparison approach (SCA) grid. The SCA is the mix of [...]

Updated requirements for valuation of manufactured homes contribute to FHA’s efforts to increase the availability and affordability of manufactured housing as part of the Biden-Harris Housing Supply Action Plan. WASHINGTON – The Federal Housing Administration (FHA) on November 2, 2023 [...]

Financing for manufactured homes considered as chattel should be made available through the U.S. Department of Agriculture Rural Housing Service (RHS) program, a joint letter from mortgage and housing groups said. This letter was in response to a proposed rule that would, among other [...]

Yes, VA loans can be used to purchase a new or preowned manufactured home or a mobile home. The Department of Veterans Affairs guarantees VA loans, which features competitive interest rates, no down payment requirement, and no private mortgage insurance. These loans are available to military [...]

June 2023 Manufactured Shipment and Production Reports Source: MHI – MHI’s recently released Economic Report includes both shipment and production tallies for June 2023. Cumulative shipments through June totaled 43,893 homes, compared with 61,650 homes through the first half of 2022, a [...]

The following are brief descriptive capsules of the most preferred loan types available to manufactured home purchasers, as well as other financing programs that may or may not serve the interest of manufactured home retailers. Note: Manufactured home financing program terms, interest rates, [...]

The following contains excerpts from an online posting by FORBES Advisor (Personal Finance) – June 09, 2023 Whether you’re buying your first or fifth traditional home or a manufactured home, a Federal Housing Administration (FHA) loan can make it easier to afford a mortgage. These [...]

Rising interest rates and construction costs, along with demand for more affordable options, pushed new home builders to shift focus, according to recent analysis by The Center Square, reported by  Zillow real estate base. They’re responding to the higher interest rate environment…by basically [...]

The following contains excerpts from A Freddie Mac generated post: Single-Family / August 21, 2023  Freddie Mac’s Duty to Serve Plan is our road map for identifying challenges in undeserved markets and finding opportunities to Make Home Possible for low-to middle-income home buyers and renters. [...]

In 2017-18 Fannie Mae engaged with manufactured home producers to develop MH Advantage to offer a new affordable housing option. MH Advantage properties are built to meet specific construction, architectural and energy efficiency specifications and include features such as garages, carports, [...]

Grows Team to Continue Serving Manufactured Home Buyers and Community Operators, Announces New VP of Sales Manufactured home chattel (home only) loan availability is critical in the growing demand for affordable homeownership. The following are excerpts from a news release referencing the [...]

Source: The Enlightened Mindset – Buying a manufactured home can be a great investment, but many people don’t realize that financing one can be just as difficult as financing a traditional home. Fortunately, Wells Fargo offers a variety of options to help make this process easier. In this [...]

Introduction Source: Bank of America – The purpose of this article is to explore Bank of America’s manufactured home/mobile home financing options, including types of loans available, eligibility requirements, how to qualify, and benefits of financing with Bank of America. This article will [...]