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Energy Efficient Factory Built Home Program

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Affordable homeownership is available to income eligible homebuyers through our Energy Efficient Factory Built Home program. We provide grants to assist you in purchasing an eligible home of your choice for placement in one of our manufacture home parks, and work with you to obtain a mortgage loan from a local bank or government lender.

Purchase a home from a pre-approved manufacturer or dealer

Approved applicants can receive grant funds and/or deferred 0% loans to help subsidize the cost of a home from our partners. Once you are approved for the Energy Efficient Factory Built Home Program, we will connect you to our partners.

View our lots available and the websites of our partners.

How does the program work?

Before you are eligible to apply for the Energy Efficient Factory Built Home Program, you must meet the following criteria:

  1. You have completed the Smart Start to Homeownership Program
  2. You have been verified as “mortgage ready,” meaning you are eligible to obtain a mortgage in the price range of a typical Energy Efficient Factory Built home.
  3. You have saved at least $2,500 to be used for closing costs.
  4. You earn at or below 100% of the area median income for the county in which you are buying.

Once you have met all of the eligibility criteria, you can purchase a home from one of our pre-approved manufacturers or dealers for placement in one of our manufactured home parks.

How do you get started?

If you know that you are likely to qualify for a mortgage (your credit score is above 640, you have some savings in the bank and you have a steady source of income that can support a mortgage payment) we recommend that you enroll in the Smart Start to Homeownership Program right away.  This program starts with an 8-hour homebuyer education class that will walk you through all aspects of homeownership.  The workshop is followed by individual sessions with a homeownership counselor who will help you develop a budget, calculate your affordability and verify your income.  Once you are ready to apply for the Shared Equity Program, our counselor will help you compile your application for submission.

However, if you are interested in this program, but need some time getting “mortgage ready,” we recommend that you start with our Money Talks! Program.  Money Talks! starts with a two hour seminar that focuses on the role of credit and how your credit score impacts your ability to obtain a mortgage and other forms of financing.  After the seminar, you’ll have the opportunity to work up to six months with a financial coach who can help you repair, rebuild or establish credit as well as identify any other financial goals you want to achieve.

Click here to contact Bruce Whitney and he can tell you more about the program, the homes, the subsidies, and your next steps.

 

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