The New Class of Homes
In late 2016 MHI launched a two-phase strategic research and planning initiative. The goal was to identify underserved homebuyers and their needs and challenges for homeownership and then determine how the manufactured housing industry can help overcome those issues.
Manufactured homes are already built to tight federal standards for quality, safety and durability which is important to homebuyers. Buyers also value the fact manufactured homes are built in a streamlined indoor environment that means faster building times and less waste.
But when compiling the results, we found that by adding some features and amenities to our homes it would create a new category of manufactured home that would appeal to an even larger group of potential homeowners. Features like pitched roofs, increased energy efficiency and garages or carports are things builders to our homes to give them widespread appeal not only to homebuyers, but also to lenders and government officials.
These homes have the best of both worlds – the curb appeal and aesthetics to fit in any neighborhood along with the benefits and value provided by factory construction process.
These homes also bring another huge benefit to homebuyers – competitive financing. Both Fannie Mae and Freddie Mac have developed special financing programs available now to thousands of their lending partners. Manufactured homes can cost half as much per square foot as site-built homes they already hold a clear value advantage over all other forms of housing. And the financing available for the new class of manufactured homes makes them affordable for buyers of nearly every budget.
We invite you to see what the industry’s largest builders have to say about this new type of home and how it will transform the marketplace.
Click the logos above to visit Fannie Mae and Freddie Mac’s web sites to learn about their financing programs that will help you find the perfect home!