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Manufactured or Modular? Or neither...

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alebrewer

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Mar 11, 2008
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Certified Residential Appraiser
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Posting this in Manufactured housing - cuz I'm not really sure what bucket it will eventually fall into. It's not made to HUD specs, so probably not manufactured (unless HUD gets involved at some point). Modular would be best guess - although, as a prototype, it may not even have been built to local codes. Anyway - the future of affordable housing?

 
Posting this in Manufactured housing - cuz I'm not really sure what bucket it will eventually fall into. It's not made to HUD specs, so probably not manufactured (unless HUD gets involved at some point). Modular would be best guess - although, as a prototype, it may not even have been built to local codes. Anyway - the future of affordable housing?

Fannie-HUD are way behind the curve on these and have no real definition and currently are no able to get financing on them using FHA or Fannie Loans . BUT with that said they are built in a factory and broken into modules- They do not have steel frames NO HUD Tags and are brought in on a Flat Bed Trucks to Site and assembled on the spot. There a Factory Built small " Modular Home. With that being said until HUD-Fannie etc gets ahead of the game, you won't be doing these for traditional GSE or HUD Lenders.
 
Fannie-HUD are way behind the curve on these and have no real definition and currently are no able to get financing on them using FHA or Fannie Loans . BUT with that said they are built in a factory and broken into modules- They do not have steel frames NO HUD Tags and are brought in on a Flat Bed Trucks to Site and assembled on the spot. There a Factory Built small " Modular Home. With that being said until HUD-Fannie etc gets ahead of the game, you won't be doing these for traditional GSE or HUD Lenders.
As usual - pretty logical observation. As these are 'true green 100% biodegradable', AND they are targeted at lower income families - I expect government backed financing to be readily available by the time they hit the market. I kind of expect they'll be their own product in the selling guides, but what do I know.
 
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