Fannie Mae invests in manufactured housing (MH) loans to serve its mission of expanding affordable housing by providing liquidity to a market segment that is crucial to many Americans. MH offers a low-cost alternative to site-built homes for millions of American households, especially in high-cost and rural areas. We purchase eligible mortgage loans secured by manufactured housing titled as real estate via our approved lender partners. The matrix below summarizes our eligibility guidelines for standard MH and MH Advantage ® . For detailed information, refer to the Selling Guide B-5-2.
Principal Residence (1 unit)
Multi-width: Minimum of 2 similar MH comparable sales; third comparable may be site-built or modular home.
Single-width: Minimum of 2 similar MH comparable sales; one of the MH comparables must be a sale, active listing, or under contract sale with the same single-width configuration; third comparable may be site-built or modular home.
Appraisers must use other MH Advantage homes, when available, for the comparable sales. If fewer than three MH Advantage sales are available, then the appraiser must supplement with the best and most appropriate sales available, which shall include a minimum of two site-built homes.
The Manufactured Home Appraisal Report (1004C) or Appraisal Completion Report (1004D) must include photos of the MH Advantage Sticker, HUD Data Plate, HUD Certification Labels, and the site showing all driveways, sidewalks, and detached structures located on the site. Lender must review the appraisal photos to confirm MH Advantage eligibility.
Refer to the MH Advantage Appraisal Requirements summary for more information.
Single-width: SFC 791 and SFC 235
Multi-width: Only SFC 235
MH loans are delivered using:
Single-width manufactured homes must be located in a Fannie Mae-approved subdivision or PUD when the project is a new project or when it is subject to resale restrictions or located on a leasehold estate. Single-width, multi-width and MH Advantage manufactured homes in a community land trust require Fannie Mae PERS approval when located in a condo or PUD project. If the property is located in a condo, co-op, or PUD, the related project data points are also required.