Selling Guide

Published April 1, 2020

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

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What is the general loan eligibility criteria for manufactured housing?

General Loan Eligibility Criteria

Fannie Mae purchases mortgage loans secured by manufactured homes that meet the following general criteria:

  • first-lien mortgages only,
  • fully amortizing fixed-rate mortgages or
  • fully amortizing adjustable-rate mortgages with initial fixed-rate periods of 7 years or 10 years,
  • principal residences and second home dwellings.

Refer to the Eligibility Matrix for maximum allowable LTV, CLTV, and HCLTV ratios.

Ineligible Manufactured Housing Criteria

The following are ineligible for mortgage loans secured by manufactured homes:

  • temporary buydowns;
  • investment properties;
  • single-width manufactured homes, unless located in a Fannie Mae-approved co-op, condo, or PUD project development;
  • homes located on leasehold estates, unless located in a Fannie Mae approved condo project.

For additional information, see B5-2-02, Manufactured Housing Loan Eligibility.

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