CHFA eNews: Home Finance
chfa enews - home finance 
  July 10, 2018

manufactured homes: 95% LTV/105% CLTV on fannie mae loans

CHFA can now offer a combined loan-to-value (CLTV) ratio of 105 percent on Fannie Mae conventional loans for the purchase of a manufactured home. The loan-to-value (LTV) ratio remains at 95 percent*.

Lenders must input “HFA Preferred” for CHFA Preferredsm loans and “HFA Preferred Risk Sharing” for CHFA Advantagesm loans in the Community Lending section of Desktop Underwriter® (DU®) to get the proper findings and result.

Refer to the CHFA Preferred and CHFA Advantage matrices for more information.

Please be aware that single-wide manufactured homes must be located in a Fannie Mae approved project and a Project Eligibility Review Service (PERS) project approval is required. Freddie Mac does not allow for the purchase of manufactured homes.

*Should a manufactured home meet the Fannie Mae MH Advantage eligibility guidelines, the LTV may be 97 percent. Please refer to Fannie Mae Selling Guide B5-2 for further information.

Please contact us with any questions or for more information.

CHFA Home Finance
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope

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