Modern manufactured home financing program helps solve access to affordable real estate nationwide
Posted: October 08, 2020 | Word Count: 417
Paid Content by Silverton Mortgage
With mortgage rates at historic lows and housing inventory scarce, the housing market is still very active and competitive with many people looking to purchase a quality, attainable home. Fortunately, even in the current market with a scarcity of housing options, there is an affordable solution for home buyers looking for homes within a reasonable price range and with flexible financing.
In response to the growing price gap in affordable homes, a new class of homes was created by the off-site built housing industry. By merging the best of off-site and on-site construction, CrossMod™ homes were developed as an innovative, modern and affordable alternative.
CrossMod homes are not only more similar in appearance to the stylish look of site-built housing, but they also can finance and appraise similarly to traditional site-built housing. Every CrossMod home comes with features that are similar to site-built housing such as:
- Permanent foundation
- Drywall interior
- Energy efficient features
- Elevated roof pitches
- A covered porch, garage or carport
Silverton Mortgage offers financing from Fannie Mae® called MH Advantage® for CrossMod Homes. The MH Advantage program offers low down payment options, low monthly payments and reduced interest rates compared to most standard loans for manufactured homes. Best of all, MH Advantage eligible homes can finance and appraise similarly to traditional site-built homes, providing the potential for increased equity and resale value in the long term.
“Offering MH Advantage financing on CrossMod homes will open a path to homeownership for many families,” said Josh Moffitt, president of Silverton Mortgage. “We are thrilled to be at the forefront of this special financing program that promotes such an innovative, attainable home category.” Silverton Mortgage offers a wide variety of financing products for potential home owners and can help you find a program that works best for you.
Home buyers can learn more about Silverton Mortgage and the MH Advantage financing program by visiting their website.
CrossMod™ is a trademark of the Manufactured Housing Institute.
MH Advantage® and Fannie Mae® are the registered servicemarks of the Federal National Mortgage Association.
All loans are subject to credit approval.
Vanderbilt Mortgage and Finance, Inc., dba Silverton Mortgage 1201 Peachtree St NE Ste 2050, Atlanta Georgia 30361, 833-933-1234, NMLS #1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act license, GA Residential Mortgage (Lic. #6911), MT Lic. #1561, Licensed by the N.J. Department of Banking and Insurance, Licensed by PA Dept. of Banking, Rhode Island Licensed Lender.