Stay Informed!

By Lauren Williams on 11/14/2011 @ 12:00 PM

Tags: Events, Housing and Homeownership

On Tuesday, November 1st I’M HOME and USDA Rural Development co-hosted Bringing it All Home: USDA Programs for Manufactured Homes and Communities. We had more than 220 viewers join us for this webinar and received a robust set of questions during the Q&A session.

Click here for the archived webinar video and PowerPoint presentation.

Presenters shared the many creative ways in which I’M HOME partners, working with their regional partners at USDA RD offices, have used these programs to promote manufactured housing as an affordable housing option in rural communities. In Kentucky, the USDA office has forged relationships with local nonprofit housing developers that work with manufactured housing and provides an integral source of single-family financing for the homeowners those organizations serve. Next Step, which is developing a system to distribute high-quality, energy efficient manufactured homes to nonprofit affordable housing developers, is now working with their growing network across the nation and many other state RD offices to enable the same types of highly productive relationships with local nonprofit housing developers. In New Hampshire, the New Hampshire Community Loan Fund has used both the Water and Environment Program to improve infrastructure in manufactured home communities and RD 504 financing to repair homes in communities.

USDA RD also used this webinar as an opportunity to announce the launch of a pilot within New Hampshire that will allow the use of RD 502 loans to finance the purchase of new homes to be placed in existing resident-owned communities. Currently, USDA RD regulations prohibit the use of RD 502 loan products on homes that are placed in communities, including resident-owned cooperatives. Part of USDA RD’s mission is to help rural individuals obtain the financial and technical assistance needed to address their needs, so when ROC USA® pointed out the significant lack of end-user financing in resident-owned communities, USDA RD agreed to develop a pilot program in New Hampshire that will allow for the use of USDA RD 502 loan products on manufactured homes placed in ROC USA®’s limited-equity resident-owned cooperatives. The pilot will allow participation within resident-owned cooperatives that are pre-approved for financing by Fannie Mae and will require a letter of acceptance for the current calendar year. In each case, RD will have to review the bylaws, articles, occupancy agreements and community rules.

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