Twenty-two million people in America live in manufactured homes. According to the Manufactured Housing Institute’s 2018 Manufactured Housing Facts, such properties now represent about 10% of new home construction, with an average sales price of $70,600. The median household income of homebuyers is $30,000. The Institute states that–for the same size home–the cost is about half…

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Non-traditional credit is a category of documentation that supplements, or sometimes replaces, the need for a consumer credit report. Non-traditional credit procedures are used for people who have no credit score or minimal credit history. Fannie Mae and Freddie Mac now accept loans from borrowers with no credit score, and this rule applies to conventional,…

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Thank you for visiting the Housing Finance 2020 blog! I have been receiving a number of requests from readers, asking about where they can find grant money and financing assistance.  I am happy to send you free information, but need to know what state you live in, and the name of a major city close…

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A FIFTY PERCENT DISCOUNT is available to law enforcement officers, school teachers, firefighters, and emergency medical technicians when buying a HUD-owned property under HUD’s Good Neighbor Next Door Program. The U.S. Department of Housing and Urban Development (HUD) offers this unique program to persons who are employed in certain professions that contribute to the local community.…

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What to do when you have no credit score or minimal credit history As consumers, we have no control over the rate of interest or the cost of housing. However, we do have some control over our credit rating. If you are willing to take a pro-active approach and complete a few extra steps, you…

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Here’s another advantage to installing energy improvements in your home. Not only are you helping the environment and saving money, you can boost your loan affordability. Many conventional and government-insured mortgage programs allow debt-to-income (DTI) ratios to expand by two percentage points for borrowers who install energy-efficient features in their home. For applicants earning around…

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