Fannie Mae - MH Advantage

[RSW]

I just read an article written by Ann O'Rourke about the Fannie Mae Manufactured Home Advantage comparable sales criteria. I've never heard of the MH-Advantage program. I googled it and here are a few links I was able to find:

https://www.FDIC.gov/resources/bank...ter/guide/part-1-docs/fannie-mh-advantage.pdf

B4-1.4-01, Factory-Built Housing: Manufactured Housing (10/04/2023)

selling-guide.fanniemae.com

 

[Dublin ohio]

I just read an article written by Ann O'Rourke about the Fannie Mae Manufactured Home Advantage comparable sales criteria. I've never heard of the MH-Advantage program. I googled it and here are a few links I was able to find:

https://www.FDIC.gov/resources/bank...ter/guide/part-1-docs/fannie-mh-advantage.pdf

B4-1.4-01, Factory-Built Housing: Manufactured Housing (10/04/2023)

selling-guide.fanniemae.com

From what I have read provided by manufacturers. It appears to be not much more than putting lipstick on a pig

 

[TerryRohrer]

From what I have read provided by manufacturers. It appears to be not much more than putting lipstick on a pig

But, it allows you to rely on site-built homes to appraise manufactured homes! Just ask Freddie and Fannie! I took a class coauthored by the Appraisal Institute and Freddie, and they could not answer the question, "how do you equate site built to MH-Advantage homes without sales of MH-Advantage homes." I would steer clear, or would be inclined to simply use non-MH-Advantage manufactured homes as the best estimate until the market actually exists.

 

[Sadie]

I just read an article written by Ann O'Rourke about the Fannie Mae Manufactured Home Advantage comparable sales criteria. I've never heard of the MH-Advantage program. I googled it and here are a few links I was able to find:

https://www.FDIC.gov/resources/bank...ter/guide/part-1-docs/fannie-mh-advantage.pdf

B4-1.4-01, Factory-Built Housing: Manufactured Housing (10/04/2023)

selling-guide.fanniemae.com

I have seen them, they look more like a site built home.

 

[Terrel L. Shields]

I think someone who specialized in MHs would do well among informed lenders.

 

[RSW]

Are the MH Advantage homes cross mods?

 

[Carnivore]

You might want to research this... There have been significant changes recently to MH Advantage

Manufactured Housing Financing | Fannie Mae

Manufactured homes can ease the nation's affordable housing shortage and Fannie Mae MH Advantage loans are a vehicle lenders can provide to homeowners.

singlefamily.fanniemae.com

https://www.FDIC.gov/resources/bank...ter/guide/part-1-docs/fannie-mh-advantage.pdf

Bookmark the below it will answer many of th questions you may have in the future

Ask Poli | Fannie Mae

Ask Poli® is a search tool powered by artificial intelligence. It reduces the steps and time it takes to track down answers so you can get an instant and accurate response.

singlefamily.fanniemae.com

This is excellent: https://singlefamily.fanniemae.com/originating-underwriting/appraisers/appraiser-updates

 

[TN Pro]

They are not cross mods, and cross mods are not modular, they are just HUD Code Manufactured homes with garages and higher end finishes. It a misleading name. I took the Appraisal Institute Advantage class a few years ago, and every appraiser concluded at the end it was just bull**** Propaganda from the manufactured home dealers.

 

[DWiley]

https://sf.freddiemac.com/faqs/choicehome-FAQ

 

[Dublin ohio]

These programs have only been around since 2018. Both Fannie and Freddie say to use stick built homes as comparable sales if no homes meeting the requirements are available. Sounds to me like they are saying that these homes are "equal" to stick built. I searched my MLS and could not find a single sold or active listing mentioning these programs. I also wonder what the price is on these homes. No doubt they are more than a typical HUD mfg home.