Finding an affordable home is challenging when there’s no much to be found on Zillow, prices are at record highs or available used homes need too many renovations and updates to make it financially reasonable. Manufactured homes (also known as system-built homes) like the ones offered by Kreativ Homes provide an option that offers significant cost savings over traditional homes without sacrificing the upgraded style and sophistication of traditional stick-built or site-built homes.

The Bowie Kitchen
The Bowie floor plan: 4 bed, 2 bath, 1,972 square feet

There are a variety of modern manufactured homes built to high standards with today’s sought-after amenities. The main difference is system-built homes are constructed indoors in efficient state-of-the art facilities, then delivered and installed on your chosen home site. The other main difference had been how these homes could be financed. For years, manufactured home buyers often faced many hurdles to securing a mortgage, but more options exist today than ever before.

So if you’re feeling limited by the types of homes in your price range, consider adding the manufactured option for more choices at prices you can live with… especially now that it’s easier to get a mortgage for your new manufactured home through a Fannie Mae program called MH Advantage®.

What is MH Advantage?

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.