Clayton Homes Celebrates New Financing for Affordable Housing

Innovative Financing Options for Homeownership

Clayton Homes, a prominent builder of single-family attainable housing, has recently acknowledged the significant move by government lenders to adopt the single-section CrossMod into their mortgage programs. This advancement is not only welcome but crucial amidst a growing nationwide housing shortage. By aligning with entities like Freddie Mac and Fannie Mae, the CrossMod financing program is set to offer broader access to affordable homeownership.

Empowering Homebuyers with CrossMod Homes

The inclusion of single-section CrossMod homes into FHA mortgage programs is a game-changer for the real estate market. Kevin Clayton, the CEO of Clayton Homes, articulated the positive implications of this inclusion, stating that it opens avenues for attainable and energy-efficient housing options. For families, particularly in urban and suburban areas struggling with affordability, this represents a significant step forward in the push for a more accessible housing market.

Understanding CrossMod Homes

Available in numerous markets for around $200,000, including land costs, single-section CrossMod homes are uniquely positioned to meet the demands of entry-level and mid-tier housing markets. With approximately 75% of U.S. households unable to afford a median-priced new home, these homes present a realistic solution to a pressing problem.

Building Homes Efficiently

Single-section CrossMod homes represent a pioneering category of housing that leverages a streamlined off-site construction process. Clayton has taken significant strides in showcasing this innovative housing option, ensuring it fits seamlessly into various neighborhoods and urban settings. This model not only aids in reducing costs but is also designed to appeal to potential homebuyers.

The Benefits of Dual Mortgage Options

The integration of single-section CrossMod homes into existing loan programs that previously catered only to multi-section homes enhances opportunities for individuals looking to achieve homeownership. These homes combine the advantages of off-site construction with features typically associated with site-built homes, including quality, appearance, and value.

About Clayton Homes

Founded in 1956, Clayton has been on a mission to promote homeownership through affordable housing solutions. Their commitment to sustainable practices and customer satisfaction is evident in their diverse portfolio, which ranges from site-built homes to modern manufactured housing options. In 2024 alone, Clayton built over 60,000 homes, showcasing their dedication to creating attainable living spaces for families across the nation.

For more information regarding their innovative CrossMod homes, interested individuals can visit the Clayton Homes website to explore available options and learn more about these transformative homeownership opportunities.

Frequently Asked Questions

What are CrossMod homes?

CrossMod homes are a type of single-family housing that utilize off-site construction processes, combining efficiency with site-built features.

Why are single-section CrossMod homes important?

They address the growing affordability crisis by providing an alternative housing solution for entry-level and mid-tier buyers.

How much do single-section CrossMod homes typically cost?

These homes are available in many markets for around $200,000, including the cost of land.

How do CrossMod homes compare to traditional homes?

CrossMod homes look and perform similarly to traditional site-built homes while utilizing more efficient construction methods.

What is Clayton's commitment to homeownership?

Clayton is dedicated to creating attainable housing that meets the needs of families, promoting sustainable practices and improving customer experiences.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

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