Toward a Sustainable and Responsible Expansion of Affordable Mortgages for Manufactured Homes

Howard Banker and Robin LeBaron

CFED’s national initiative Innovations in Manufactured Homes (I’M HOME) Loan Data Collection Project released its findings from a two-year study of more than $1.7 billion in manufactured home mortgages. Key findings from the study include analysis showing that mortgage performance for manufactured homes is comparable to similar site-built homes and sometimes actually outperforms them, and that mortgages for manufactured homes can be made with low down payments and alternative credit. The I’M HOME project is part of an effort to expand affordable mortgages to owners of manufactured homes and ensure that they have the opportunity to build wealth through homeownership.