New Hampshire Housing Launches Mortgage Loan Program For Manufactured Homes In Resident-Owned Communities
September 28, 2017
Homebuyers purchasing a manufactured home in a resident-owned community (ROC) have a new affordable home loan available to them. New Hampshire Housing’s Home Preferred Manufactured Housing ROC loan, created in partnership with Fannie Mae and the New Hampshire Community Loan Fund, is a new homeownership program for homebuyers and current homeowners in qualified New Hampshire ROCs. It offers affordable financing options, including a low fixed rate, low downpayment, and low mortgage insurance options
Manufactured homes are especially affordable because they take advantage of factory efficiency in construction and are of relatively modest size. Resident-owned manufactured home communities preserve affordable homes in communities that residents manage cooperatively.