Manufactured Housing: Financing Solutions for Lenders
What is Manufactured Housing?
Manufactured housing is the largest sources of unsubsidized affordable housing in the United States — and one of the most underserved by conventional mortgage financing. Freddie Mac is committed to changing that.
We purchase mortgages secured for manufactured homes that meet or exceed the U.S. Department of Housing and Urban Development (HUD) Code, giving you a reliable secondary market outlet, conventional pricing, and access to the full suite of Freddie Mac origination tools. Whether you’re originating standard manufactured home mortgages, CHOICEHome® mortgages, or Construction to Permanent financing, we have the products and guidelines to meet your customers’ needs.
Freddie Mac also purchases mortgages secured by modular homes that are built in accordance with the same local and state building codes as traditional site-built homes.
The Market Opportunity
The numbers make the case for manufactured housing:
- More than 22 million U.S. households live in manufactured homes — a market that is growing as affordability pressures intensify.
- A new manufactured home costs roughly $84 per square foot on average, compared to $169 per square foot for a site-built home (prices exclude the land) — nearly 48% less.
- The average purchase price for a newly placed home, including land, is approximately $200,000, compared to more than $500,000 for the average traditional site-built home.
- About two-thirds of manufactured homes are sited on privately owned land. Real-property financing is an underutilized opportunity — and Freddie Mac purchase the most competitive outlet.
Our Manufactured Housing Solutions
Freddie Mac offers multiple financing paths depending on the home type, borrower profile and lender strategy:
Manufactured Housing FAQs
Can a manufactured home have an accessory dwelling unit (ADU)?
Yes. A mortgage secured by a multi-wide manufactured home — including a CHOICEHome® — as the primary dwelling is eligible with one ADU or one manufactured home ADU on the property. The ADU must meet applicable requirements in Guide Chapter 5703.
Is a CHOICEHome the same as a CrossMod® home?
Yes. CrossMod is the industry term for a manufactured home that is built with the same features and amenities as a site-built home. A home must be CHOICEHome-certified to be eligible for CHOICEHome financing.
Can a HeritageOne mortgage be secured by a manufactured home?
Yes. HeritageOne is available for mortgages secured by manufactured homes when the borrower is a Native American who is a member of a federally recognized tribe. Additional requirements apply.
Is Home Possible available for manufactured homes?
Yes. Home Possible is available for mortgages secured by manufactured homes with certain restrictions. The mortgage must meet standard manufactured home eligibility requirements and Home Possible income and property requirements. See Guide Chapter 5703 and the Home Possible product page.
Can I use GreenCHOICE Mortgages® for energy improvements to a manufactured home?
Yes. GreenCHOICE Mortgages® are available for energy-efficient improvements to manufactured homes. The improvements must meet applicable GreenCHOICE requirements. See Guide Chapter 4606 and GreenCHOICE product page for more details.
What are the credit fees for manufactured home mortgages?
Credit fees in price are assessed for mortgages secured by manufactured homes. The applicable fees are detailed in Guide Exhibits 19 and 19A. Mortgages secured by a manufactured home may qualify for a Credit Fee Cap per Exhibit 19A. Fees are billed in conjunction with each loan sale. Use Loan Selling Advisor® to confirm applicable fees for a specific loan.
Does Freddie Mac purchase manufactured home loans originated in all states?
Yes, with important caveats. Manufactured home mortgage eligibility is subject to state-specific requirements, including real property titling and lien perfection laws. Review your state regulations for converting a manufactured home's title from personal property to real property. The manufactured home mortgage must be real property to be eligible for sale to Freddie Mac. You must receive Freddie Mac's prior written approval before selling manufactured home leasehold estate mortgages.