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CHFA rolls out expanded manufactured‑home loan: 100% financing up to $150,000 at 3%
Summary
Connecticut Housing Finance Authority announced an enhanced mobile/manufactured‑home loan program offering up to 100% financing, maximum loan $150,000, and a 3% fixed rate. CHFA said $4.75 million was allocated; most funds will target purchases with a portion set aside for refinances.
Brian, a representative of the Connecticut Housing Finance Authority, told the Mobile Manufactured Home Advisory Council that CHFA has expanded its manufactured-home loan product to increase access to homeownership and refinancing for owners of mobile and manufactured homes.
Under the enhanced program CHFA described, loans are available up to 100% financing with a maximum loan of $150,000 at a 3% fixed rate. Loan terms can be 15 or 30 years for loans above $5,000; loans of $5,000 or less are limited to 15 years. CHFA said borrowers will not pay private mortgage insurance (mortgage insurance/PMI) under the program, and that the program will permit purchases and some…
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