Tag: Manufactured Home

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2019-9 – Dated May 1, 2019 [NEW Worksheet – Freddie Mac Verification of Funds for Income After Note Date]

Written By: Lloyd Rutherford, Staff Writer This month’s Freddie Mac Bulletin contains some little changes that could have a big impact on your business, so read through this article to stay up to date. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics […]

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Fannie – Manufactured Homes – Land Equity as Down Payment – Can equity of land owned by borrower be used as their down payment for a Manuf. Home Loan? [Manufactured Homes Reference Chart & New MTP™ – Using Land Equity for a Down Payment]

Answer: Yes! When a borrower owns a lot, which will have the manufactured home permanently attached to it, this value/equity may be credited toward the borrower’s minimum down payment requirement. Reference: Fannie Mae-Delivering Manufactured Housing Loans FAQ-Attached below for your convenience Here’s How it Works: If the land was purchased 12 months or less from […]

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USDA Manufactured Housing Pilots Under Section 502-Expansion of Pilot Program

By: David Hail, Staff Writer USDA continues to expand a great loan program for existing manufactured homes.  Read this update to see if it is available in your state and what you need to know to offer this program. Rule Synopsis: USDA Rural Development in Oregon announced that it has expanded its homeownership assistance through […]

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