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Article 27 · Capital Markets & Leverage

The Role of Agency Debt (Fannie Mae & Freddie Mac) in MHP Portfolios

Why the GSEs are structurally motivated to lend against manufactured housing communities.

  • GSE mandate: Fannie Mae and Freddie Mac carry explicit federal mandates to support affordable housing liquidity.
  • Loan terms: 30-year amortizations, 10-to-12-year fixed rates, and non-recourse structures with interest-only periods on stabilized communities with paved roads and high TOH ratios.

Key Takeaway

Agency debt provides stabilized communities with the most competitive, non-recourse long-term capital in commercial real estate.

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