Manufactured and Modular Home Financing

Manufactured homes have been unfairly stigmatized in the past there’s no argument that they are a source of high-quality, relatively low-cost housing, especially in rural areas  A recent report (FinRegLab) explores the potential of modernizing federal insurance programs for manufactured home [...]

“Leaving financing to a customer’s own devices is not a winning strategy” Most shoppers seeking manufactured home ownership will need financing and will be confused as to how to accomplish that. A salesperson who has developed a comfortable and trusting rapport with the home shopper and is [...]

The new service is anticipated to assist more homebuyers in gaining access to affordable housing options.   Capital Home Mortgage is delighted to announce that it has expanded its lending offerings to include FHA loans for manufactured homes, making homeownership more accessible and [...]

MH Advantage Loans 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 [...]

Newly increased loan limits for title 1 Program supports the Biden-Harris Administration’s efforts to increase the supply and use of manufactured homes as an affordable housing source. WASHINGTON – On March 18. 2024 press release the Federal Housing Administration announced new loan [...]

According to Lending Tree, Foremost, American Modern and Assurant stand out as the best manufactured home insurance companies for both older mobile homes and newer manufactured homes. Here’s why:   Foremost A subsidiary of Farmers Insurance, Foremost was the first insurance company to [...]

There are numerous home loan programs available for purchasers of manufactured homes. Often the loan type is dependent on the intended home placement site and how the home will be installed on that site.   CAPSULE LOAN TYPES The following are brief descriptive capsules of the most common [...]

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, [...]