Clayton Praises Fannie Mae and Freddie Mac for New Home Financing Initiative

Clayton's Praise for Expanded Home Mortgage Program

In a significant move to support attainable housing, Clayton, a leading builder of single-family homes, has expressed its commendation for Freddie Mac® and Fannie Mae® for recently integrating single-section CrossMod® homes into their mortgage offerings. This change is expected to bridge the gap in housing availability for families across urban, suburban, and rural areas.

Understanding CrossMod Homes

CrossMod® homes represent an innovative approach to affordable housing, made possible through advanced construction techniques and efficient designs. These homes can be sourced for about $200,000, including land costs, which provides a feasible option for families seeking entry-level or mid-tier housing in a market where traditional new homes are priced over $460,000 on average.

Currently, approximately 75% of U.S. households cannot afford a median-priced new home. The recent inclusion of single-section CrossMod homes into the FHA mortgage program is a game changer, allowing more buyers to access financing that was previously restricted to multi-section properties only.

The Benefits of Single-Section Homes

Kevin Clayton, CEO of Clayton, emphasizes how this development opens new avenues for energy-efficient homeownership. The single-section design is notably suitable for various neighborhoods, offering a versatile solution to the pressing issue of affordable housing. By utilizing a streamlined off-site construction process, these homes not only meet but exceed energy efficiency standards, making them an attractive option for environmentally conscious buyers. Additionally, they maintain the appearance and quality of traditional site-built homes, assuring potential homeowners of enduring value.

Addressing the Housing Shortage

Clayton's commitment to making homeownership accessible has been evident through various projects aimed at addressing the housing crisis in the nation. They successfully displayed a model of a single-section CrossMod home at the Berkshire Hathaway Shareholder Meeting to showcase how these structures can effectively fit into existing neighborhoods, paving the way for sustainable development.

The initiative by government lenders marks a crucial alignment in the industry, with the potential to equip real estate agents, builders, and developers with more tools to cater to an underserved segment of the housing market. This strategic partnership not only promises to enhance homeownership opportunities but also contributes positively to the economy by stimulating the construction sector.

Looking Ahead

The integration of single-section CrossMod homes into conventional mortgage programs is expected to spur growth in the manufacturing and housing sectors, ultimately benefiting families striving to achieve homeownership. As Clayton continues to champion attainable housing solutions, they remain dedicated to ensuring that every family has the opportunity to realize their dream of owning a home.

For those interested in further exploration of CrossMod homes and the available financing options, more information can be found at claytonhomes.com/crossmod. With this forward-thinking approach, Clayton is not only changing the landscape of affordable housing but is also playing a pivotal role in the quest for sustainable living solutions across the nation.