Affordable starter homes have become scarcer, smaller, older, and more likely in need of major renovations. They have also seen a significant increase in prices. Fannie Mae believes today's modern, high-quality manufactured homes can help ease the nation's affordable housing shortage, address borrowers' evolving needs, and provide a growing business opportunity for lenders and the industry.
MH Advantage is an innovative new mortgage option that offers affordable conventional financing for manufactured housing (MH) with features similar to site-built homes, including:
MH Advantage-eligible homes can become a seamless part of any single-family neighborhood.
With MH Advantage, you can help prospective homebuyers get the design features they want at a price they can afford. Loans secured by MH Advantage properties feature a number of flexibilities compared with standard MH:
The underwriting and origination processes are streamlined and straightforward, allowing you to manage your MH portfolio with greater ease and flexibility.
Standard MH — which includes traditional single- and double-wide homes that are not eligible for MH Advantage — offers an even more affordable alternative to site-built homes for millions of American households, especially in high-cost and rural areas. Fannie Mae purchases mortgages secured by manufactured housing titled as real estate via our approved lender partners using our standard MH underwriting guidelines.