It is specialized financing designed for the acquisition or refinancing of manufactured housing communities (MHCs), where the borrower owns the land and infrastructure and leases the pad sites to residents who own their homes.

Borrowers are typically experienced MHC operators, including for-profit entities, nonprofits, government entities, and resident-owned cooperatives.

There is no minimum or maximum loan amount, making the program flexible for a wide range of community sizes and values.

"Duty to Serve" is our plan to support underserved markets. For MHCs, this translates into providing liquidity and creating financing incentives for communities that offer tenant lease protections and/or have non-traditional ownership.

TSLPs are specific provisions in a tenant’s lease that provide them with greater housing security, which include rights like renewable leases, written notice for rent increases, and grace periods for late payments.

The financing is primarily for community sites and infrastructure. The percentage of tenant-occupied homes (where the community owner also owns the manufactured home) is typically limited to no more than 35%.

Key benefits include competitive pricing, flexible loan terms (5 – 30 years), certainty and speed of execution through the DUS model, and access to a team with unparalleled experience in the MHC sector since 2000.

Fannie Mae provides a pricing incentive to assist nonprofit organizations and resident cooperatives in acquiring and refinancing MHCs, helping to preserve long-term affordability and help prevent displacement.