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Volume 17 - Number 20

October 6, 2017

Fannie Pilot Offers Conventional Fixed-Rate Loans for MH in NH

Fannie Mae has partnered with the state housing finance agency in New Hampshire to pilot a program that allows buyers of manufactured homes access to 30-year conventional fixed-rate mortgages. The program kicked off last week and buyers must purchase in qualified resident-owned communities (ROC). The Home Preferred Manufactured Housing ROC loan, created in conjunction with the New Hampshire Community Loan Fund, gives both buyers and current ROC homeowners affordable financing and low-cost mortgage insurance options. New Hampshire was the perfect place to pilot the program because of the way it treats MH in ROCs, Patrick McCarthy, Fannie’s vice president of alternative real estate-owned dispositions told Inside The GSEs. “It treats them as real property whereas in....

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