22-48: August Product Highlight | FHA/VA Manufactured Homes
Pennymac Delegated is excited to offer Manufactured Homes on our existing FHA and VA products, including FHA Streamline and VA IRRRL. Full details can be found on our product profiles and are available to our Correspondents as outlined below:
- Minimum of 2 years of experience in originating manufactured homes and prior approval by Pennymac is required
Why Manufactured Homes?
Manufactured homes provide an alternative to traditional site-built homes but at significantly lower cost, thanks to efficiencies in the factory building process. In addition to the cost effectiveness, manufactured homes are comparable to site-built homes in safety and durability due to the HUD Code governing their design and construction standards.
Pennymac is committed to promoting affordability and expanding homeownership opportunities. In support of this mission, we began to accept manufactured homes with Conforming loans earlier this year and in July we released manufactured homes with FHA and VA.
By further expanding manufactured home eligibility to FHA and VA loans, we hope to support an even greater number of borrowers in their pursuit of homeownership in today’s market. See product profiles for full details.
- FHA Manufactured Homes
- FHA Streamline Refinance Manufactured Homes
- VA Manufactured Homes
- VA IRRRL Manufactured Homes
Please contact your Sales Representative with any questions.