HUD has raised the loan limits for manufactured housing to align with prices today.
The Federal Housing Administration has raised the lending limits for its Title I Manufactured Home Loan Program, aiming to unlock the supply of affordable housing.The FHA said the increase better reflects today's market prices for manufactured homes and should encourage more lenders to offer loans to homebuyers seeking to purchase manufactured homes, also known as mobile homes, and the lots on which they sit.
State and local governments may also use unspent money to fund Fannie Mae and Freddie Mac-supported affordable housing projects for teachers, firefighters, nurses, and other essential workers, which are increasingly priced out of specific markets. According to a Reuters calculation, this move could unlock as much as $40 billion in unspent money from the $350 billion State and Local Fiscal Recovery Fund. The funds are part of the American Rescue Plan Act — a $1.
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