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CHFA reports growing uptake for simplified mobile/manufactured-home loan product
Summary
CHFA staff updated the advisory council on a redesigned mobile/manufactured-home loan: a 30-year fixed-rate product at 3% with up to $150,000 or 100% financing. Since the May relaunch the program has 62 reservations, about $7.5 million reserved and 37 purchases closed.
Connecticut Housing Finance Authority staff told the Mobile Manufactured Home Advisory Council that a simplified mobile/manufactured‑home loan is generating stronger uptake since its May relaunch. The single product combines purchase and refinance into a 30‑year, fixed‑rate loan at 3%, with a maximum $150,000 principal or, in some cases, up to 100% financing; borrowers may contribute funds above $150,000 but the program does not permit subordinate financing.
CHFA reporte…
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