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Next Step Systems>>
Sustainable Financing>
Sustainable Financing
Affordable Housing Done Right -
Sustainable financing; mortgages with fair terms that enable
families to earn wealth or preserve assets.
Historically, the market system that delivers, finances and
provides building sites for manufactured housing has been structured
in a way that decreases the financial security and reduces the
wealth creation opportunities for low-income households relative to
those who own site-built homes.
The Next Step System is designed specifically to address each
of these weaknesses.
What’s different about MH financing? -
- Today, the conventional market is largely not lending for
MH. Some smaller community banks will hold these loans in
portfolio.
- FHA/VA
- USDA 502 Direct & Guarantee
- Credit Unions
- State Housing Finance Agencies
- Various Subsidy Programs—i.e., HOME, CDBG, FHLB AHP, RHED,
etc.
Modular Homes do not incur the same restrictions in
lending options. They are considered the same as new construction
for conventional financing.
Additional information is available with Next Step's Applicant &
Member training modules.
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