FAHE Celebrates Manufactured Housing Week

During National Manufactured Housing Week, June 15-19, FAHE continues dispelling myths and opening the doors of homeownership to all income levels by improving a type of housing usually ignored in community development--manufactured housing. 

FAHE started a performance compact in 2006 to help homebuyers purchase quality, energy-efficient manufactured homes with fair and affordable mortgage financing.  (Read the full story)

Download the Top 10 Truths about Manufactured Housing from CFED. 

Manufactured Housing Compact Expands into Virginia

Helping Overcome Poverty’s Existence (H.O.P.E.) is blazing a trail in Virginia as the first nonprofit to successfully construct a home using a manufactured unit sold by Frontier Housing, the exclusive non-profit dealer of Clayton Homes. As the leader of FAHE’s manufactured housing initiative, Frontier offers high quality and energy efficient homes set on a FHA permanent foundation and titled as real estate, maximizing long-term appreciation. 

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In Appalachia, demand for manufactured homes is high and many customers find the fast delivery and low cost more attractive than traditional housing.   Unfortunately, many buyers encounter predatory dealers, unfair loans, and pressure to choose financing on-the-spot through the dealership, even though the terms are far less favorable in the long-term. Unscrupulous dealers favor chattel loans, which carry a high interest rate and do not convert the home to real estate. While FAHE offers fair and affordable financing, many families are unaware of other financing options until after the transaction is completed. 

Members participating in the this intiative's pilot program, funded through CFED's I'M HOME program, are building a delivery system for nonprofits to deliver quality manufactured homes with scale potential. This model uses a hub-and-spoke approach where one Member, Frontier Housing, is a license-dealer selling homes through other Members to homebuyers. These homes have been designed by Frontier Housing to maximize quality and appreciation potential. When combined with a quality set and fair real estate financing, families are able to choose their housing solution without compromising the returns of homeownership. 

To learn more about FAHE's Manufactured Housing Performance Compact, please contact our Membership Director, Tom Carew. 

FAHE's Manufactured Housing Performance Compact is sponsored by CFED's I'M HOME Initiative. To learn more about CFED visit their website:  www.cfed.org.