American Financial Resources Now Offering Fannie Mae’s MH Advantage

Jul 23, 2018

American Financial Resources Inc. (AFR) has announced that it is now offering conventional financing for manufactured homes via the newly introduced MH Advantage initiative from Fannie Mae.

The new mortgage program is for specially designated manufactured homes with features comparable to traditional single-family homes. These homes can include interior features like drywall, energy efficient appliances and upgraded cabinets in kitchens and bathrooms, as well as exterior amenities such as porches, garages and architectural features like eaves and higher pitch rooflines.

“With a shortage of affordable single-family homes in the U.S., manufactured housing is increasing in popularity,” said Bill Packer, Executive Vice President of American Financial Resources. “AFR continues its commitment to the growing manufactured housing community, and we are pleased to add Fannie Mae’s new MH Advantage program to our portfolio of financing options.”

Through MH Advantage, qualifying borrowers can secure financing with a downpayment as low as three percent. Loans feature cancellable mortgage insurance and can also be combined with other Fannie Mae programs like HomeReady or HFA Preferred mortgages.

“The goal of this initiative is to help bridge the gap in affordable housing by encouraging more consumers to consider manufactured homes as an alternative to traditional single family ‘site built’ homes,” said Packer. “AFR is proud to be among the first to offer any loan program that helps loan originators get borrows into a home with features they want, at a price they can afford.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Jul 23, 2018

Home Equity

Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Analysis and Data

Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Nov

Houston, TX

More from

Industry News

The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News

Jul 30, 2026

New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News

Jul 15, 2026

First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News

Jul 10, 2026

Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News

Jul 09, 2026

June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News

Jul 02, 2026

NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News

Jul 02, 2026

Popular