Many of today’s manufactured home are virtually identical to site-built homes. Lenders offer loans for this type of manufactured home with the same rates as site-built loans. Manufactured home lenders can provide the loans through Fannie Mae’s MH Advantage program and Freddie Mac’s CHOICEHome program.

The two government-affiliated lenders require homes qualifying for the programs to meet specific criteria. In turn, buyers get financing comparable to other homes including low down payment (3%), lower interest rate, and reduced mortgage insurance coverage requirements.

The manufactured home uses the term CrossMod for the homes that qualify for these excellent loans.

Here is information on the two programs: