MH Advantage® is a program created by Fannie Mae to support manufactured homes that meet certain construction and design standards, making them eligible for conventional mortgage financing.
Manufactured homes that meet MH Advantage® criteria are typically built with features that are similar to site-built homes, such as higher ceilings, pitched roofs, and upgraded kitchens and bathrooms. These features make MH Advantage® homes more attractive to home buyers who want the affordability of a manufactured home, but with more traditional home features and financing options.
To qualify for the MH Advantage® program, manufactured homes must meet specific construction, design, and energy-efficiency standards. These standards include requirements for the home’s foundation, roof, exterior, and interior design features, as well as energy-efficient appliances and systems.
In summary, MH Advantage® manufactured homes are homes that meet specific construction and design standards set by Fannie Mae, making them eligible for conventional mortgage financing.
MH Advantage® is a mortgage loan for manufactured homes that have features typical of traditional single-family homes. It offers traditional 30-year fixed rate financing with benefits that exceed standard manufactured home loans. When you buy an MH Advantage-eligible home, you’ll get:
Quality and Style – Homes can include custom amenities like attached garages, upgraded kitchens and bathrooms, energy efficient appliances, and architectural features that help them blend seamlessly into traditional neighborhoods.
Affordability – MH Advantage offers down payments as low as 3%, interest rates lower than most traditional manufactured home loans, and cancellable mortgage insurance. Plus, it may be combined with a HomeReady mortgage for additional benefits.
Homeownership Advantages – You may benefit from the financial perks of homeownership, like the potential for tax benefits and building equity. That could mean extra money in your pocket at tax time or if you ever decide to sell the home.
Because MH Advantage is only for manufactured homes with certain features, eligible homes are identified by a “Mortgage Financing Notice”—also known as the “MH Advantage sticker.” The sticker does not mean you qualify for MH Advantage financing. You must meet certain loan eligibility requirements, and the home must be placed on land you own and will title with the home.