If you are looking toward manufactured home ownership as a goal on the financial horizon, there are a few things you must consider. How much borrowing power you have, what type of home you’re looking for, and where you’re hoping to call home are all first line questions for prospective homeowners. For those in Florida who are considering affordable manufactured homes, some recent Federal Housing changes may open up new doors of opportunity for better financing. Let’s take a closer look.
More Financing Flexibility Than Ever Before
In November of 2023, the U.S. Department of Housing and Urban Development (HUD) announced an update in requirements for manufactured home valuation, with the intent of helping increase availability and affordability of manufactured housing across the board.
The updates to these appraisal requirements will broaden the landscape of affordable manufactured homes across the country, and removes a roadblock to Federal Housing Administration (FHA) programs’ ability to help those interested in financing their FHA manufactured homes.
Manufactured homes certified under the Fannie Mae and Freddie Mac programs now require appraisers to use appropriate site-built-home comparable sales when there are less than two comparable sales of certified manufactured homes available.
By changing the way valuation is considered, homeowners looking to finance with an FHA loan for manufactured homes now have better options. This increased financing flexibility will help eliminate barriers for some families.
Efforts to Increase Availability and Affordability of Manufactured Homes
Another important piece of the puzzle that accompanies this change for FHA manufactured homes is the push to make more manufactured homes readily available across the country. Historically, certain jurisdictions have placed tight restrictions on where manufactured homes can be placed. These changes also address regulatory barriers so that homeowners have a wider choice of where they can place their home.
The manufactured housing game has certainly come a long way in the past couple of decades, and these regulatory changes help acknowledge the truth that high-quality builders have known for years: that a well-built manufactured home features design and functionality that is nearly indistinguishable from a site-built home.
Manufactured homes from Jacobsen Homes, specifically, are built to extremely exacting standards of safety, energy efficiency, and quality craftsmanship that go above and beyond the federal and local state requirements, so it makes sense that they should be valued as such.
Get Quality Manufactured Housing in Florida with Jacobsen Homes
If you’ve been considering a manufactured home for awhile, or if these recent appraisal requirement shifts have you considering it now, Jacobsen Homes is here to help. Whether this is your first home, you’re looking for a sweet spot in sunny Florida to call home after retirement, or somewhere in between, the team at Jacobsen Homes can help you create the home of your dreams. Contact us today to learn more.