Expanding homeownership opportunities to more borrowers
Freddie Mac is committed to purchasing mortgages secured by manufactured homes in support of our commitment to expand homeownership opportunities. Our requirements for manufactured homes are designed so that the mortgages we purchase are originated, underwritten and serviced to help qualified borrowers buy homes they can both afford and maintain.
Lenders need to understand the requirements for titling manufactured homes and perfecting liens on the manufactured home in each state where mortgages secured by manufactured homes are originated. This understanding will help better serve the needs of your borrowers, create more financing options for low- and moderate-income borrowers and expand your market opportunities.
If you are originating mortgages secured by manufactured homes, it is important that you review our complete requirements in Single-Family Seller/Servicer Guide (Guide) Chapter H33.
|Eligible Mortgage Products||
|Maximum LTV Ratios (without secondary financing)||
|Special Delivery Requirements||
|Single-Family Seller/Servicer Guide||
Mortgages secured by manufactured homes help you:
- Expand your homeownership opportunities to low- and moderate-income borrowers.
- Meet your Community Reinvestment Act goals.
- Streamline your process with Loan Prospector automated underwriting technology.
Benefits for Your Borrowers
Mortgages secured by manufactured homes help you borrowers:
- Take advantage of conventional financing terms when you originate mortgages secured by manufactured homes legally classified as real property.
- Leverage financing flexibility with a choice of fixed-rate, 7/1 ARMs or 10/1 ARMs.
- Expand their homeownership options with Home Possible Mortgages.
For More Information
- Print a Manufactured Home fact sheet.
- Mortgages Secured by Manufactured Homes Tutorial.
- Call your Freddie Mac representative.
The information in this document is not a replacement or substitute for information found in the Single-Family Seller/Servicer Guide and/or the terms of your Master Agreement and/or Master Commitment.