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“Debunking Manufactured Housing Myths – Get the Facts” is the title of a research report provided below by conventional housing mortgage giant Freddie Mac. Before diving into their statements, sources, and findings some context is useful for new and returning readers. For years, a decade to be more precise, Manufactured Home Living News (MHLivingNews.com) has highlighted the facts that debunk the myths about the trailer houses and mobile homes of yesteryear and the modern manufactured housing of our era. This has been done via a mix of reports that include interviews with actual manufactured home owners and manufactured housing industry professionals who are routinely highly rated by their customers. This site has also provided what is apparently the largest collection of third-party research into manufactured homes.
That’s said to illustrate this point. Freddie Mac’s research, while largely useful, on the whole supports the decade-long effort of this site to provide the most accurate and reliable insights into the manufactured home market for curious-to-motivated shoppers of HUD Code manufactured homes.
Freddie Mac has been producing such research from 3.7.2019 into 2022. This is part of our periodic look at their findings. As noted, what Freddie Mac reported largely confirms other findings by a range of third-party researchers as well as by MHLivingNews’ reports based on consumer and industry professional’s insights. A prior report from 2022 by Freddie Mac, along with related commentary, is published at the link below.
Note that Investopedia says: “Freddie Mac is the officially recognized nickname for the Federal Home Loan Mortgage Corp. (FHLMC). Freddie Mac is a stockholder-owned, government-sponsored enterprise (GSE)…”
Per Freddie Mac, the following.
Overview
A shortage of affordable housing is making it harder for low- and moderate-income borrowers to buy homes. More than 22 million families have already turned to manufactured housing, and with good reason. Manufactured homes are a viable source for high-quality, modern, sustainable, energy-efficient and affordable homeownership.
You have probably heard a few myths and misconceptions about manufactured homes. We want you to know the real benefits, value and facts around manufactured housing.
Here’s the truth about couple of those myths:
Myth: “They’re unattractive and have limited design options.”
Fact: Manufactured homes have modern, energy-efficient, high-quality design options and custom home features comparable to site-built homes. They offer floor plans ranging from basic to elaborate, with vaulted or tray ceilings; fully-equipped, state-of-the-art kitchens; walk-in closets; and luxurious bathrooms. Exterior upgrade options include covered porches, higher roof pitch, decks and garages.
Myth: “Manufactured homes are difficult to finance.”
Fact: There are plenty of affordable financing options. Show your borrowers why manufactured housing is a viable option.”
Here is the Freddie Mac myth busting download link. Click the link to open and/or download their report.
This image with explanations shown below is one of several found in the report linked above.
Note: Freddie Mac is pushing, to some extent, their ChoiceHome program as a response to their Congressionally mandated “Duty to Serve” (DTS) Manufactured Housing, Rural and Underserved Housing Markets. CHOICEHome® is their version of what the other GSE, Fannie Mae, calls MH Advantage and what the Manufactured Housing Institute (MHI) calls their “CrossModTM” home. This platform and MHProNews have made the point for years that all manufactured homes should be given the same type of treatment that Freddie rather well presented above. All of the facts that Freddie Mac cited are the same reasons why they should be doing more loans on ALL – not just a few – HUD Code manufactured homes.
See what this real estate professional, whose husband is a custom house builder, had to say about modern manufactured homes.
Examples of other third-party and other researchers and reports that have come to similar conclusions as Freddie Mac are shown linked below.
As a closing note, MHLivingNews also shines a light on those who fail to provide the proper professional behavior, be they inside the industry, public officials, nonprofits, or others. Perhaps that is why millions of pageviews occur here, because inquiring minds want to know.
That’s a wrap on this installment of “News through the lens of manufactured homes and factory-built housing” © where “We Provide, You Decide.” © ## (Affordable housing, manufactured homes, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
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