Fannie Mae MH Advantage®

Fannie Mae offers financing for manufactured homes through its MH Advantage® program. This option provides competitive interest rates and terms similar to site-built homes, which makes it easier to own a modern and energy-efficient mobile home.

• Lower down payments. MH Advantage® allows for lower down payments, so homeownership is more affordable and accessible.
• Reduced mortgage insurance costs. The program helps reduce mortgage insurance costs, making monthly payments more manageable.
• Affordable monthly payments. With fixed-rate loans and longer repayment terms, MH Advantage® makes your payments easy to budget.

Check out Fannie Mae’s official website to explore how their financing options can support your homeownership journey.

Freddie Mac Single-Family

Freddie Mac’s Home Possible® and HomeOne® programs provide low down payment options for manufactured home buyers. These loans are ideal for those looking for affordability without compromising on quality.

• As little as 3% down. Freddie Mac allows down payments as low as 3%, making it an ideal choice for first-time and low-to-middle-income buyers.
• Reduced PMI costs. Borrowers may qualify for reduced private mortgage insurance (PMI) costs, which helps reduce monthly expenses.
• Flexible credit score requirements. The program offers more flexible credit score criteria, increasing access to home financing for a wider range of applicants.
• Stable fixed-rate loans. Freddie Mac loans provide fixed-rate options, protecting homeowners from fluctuating interest rates over time.

Visit Freddie Mac’s official website to discover how their loan programs can make homeownership more accessible and affordable for you.

USDA Rural Loan

The USDA Rural Loan is a government-backed mortgage program designed to help low-to-moderate-income families achieve homeownership in rural and suburban areas. This loan provides an opportunity for those looking to purchase a home in designated rural zones.

Here are the benefits of USDA rural loans.

• No down payment. Unlike traditional loans that require a hefty down payment, USDA Rural Loans offer 100% financing, meaning you don’t need to save for a large upfront cost.
• Lower interest rates. USDA loans typically come with competitive interest rates, reducing the cost of homeownership over time.
• Flexible credit requirements. With more relaxed credit score standards, USDA Rural Loans make it easier for those with less-than-perfect credit to qualify for a mortgage.
• Eligibility. These loans are available to eligible buyers purchasing homes in rural or suburban areas. The USDA has specific guidelines to determine which areas qualify, and the applicant’s income must meet certain limits to qualify.

Local Lenders

In addition to national loan programs, we work with local lenders who understand the California housing market. These lenders offer financing solutions with flexible terms to help make your dream home a reality.

• Faster loan approvals. Local lenders can provide quicker loan approvals for a smoother and faster home-buying process.
• Customized financing solutions. You can benefit from financing options based on your specific needs and financial situation.
• One-on-one guidance. Local lenders offer personal support throughout the mortgage process that provides expert advice at every step.
• Flexible underwriting. Local lenders have more lenient underwriting requirements to make it easier for buyers with unique financial situations to secure funding.
• Competitive interest rates. They offer competitive rates and special loan programs that cater specifically to California homebuyers.

Get Started with ModWest!

Need help choosing the right financing option? Contact our team for expert guidance and let us help you move into your new mobile home, quickly and affordably!