Clayton, a national builder of single-family attainable housing, is positioned to help homebuyers benefit from new appraisal guidelines recently issued by the Federal Housing Administration (FHA). With the FHA’s updated policy, CrossMod homes will now appraise alongside site-built homes and other CrossMod homes, instead of older off-site built homes without CrossMod features, providing homeowners the opportunity to build equity and wealth over time, according to a release.
CrossMod homes are challenging zoning restrictions and regulatory barriers where off-site built homes have historically been limited.
“We join housing leaders across the country in applauding FHA for their new appraisal guidelines that improve the valuation accuracy for CrossMod homes,” CEO Kevin Clayton said in the release. “These homes will play an essential role in addressing the affordable housing crisis. We continue to leverage the off-site building process and its sustainable construction efficiencies to help increase housing supply in cities, rural areas, and everything in between – ultimately making homeownership more attainable.”
In growing areas across the country, CrossMod homes are challenging zoning restrictions and regulatory barriers where off-site built homes have historically been limited. For example, two CrossMod homes were placed within city limits in Atlanta earlier this year, the company said.
Atlanta allows off-site built homes that are secured to a permanent foundation - a zoning ordinance ideal for CrossMod that showcases how flexible policies can increase attainable homeownership opportunities in high-growth cities.
Clayton CrossMod homes include features such as a permanent foundation, an elevated roof pitch, garage, covered porch, drywall interiors and energy-efficient features. These features help make them indistinguishable from traditional site-built homes.
“Increasing the supply of affordable homes in this country will require us to use every tool available to us. That includes innovative solutions like manufactured housing,” HUD Secretary Marcia Fudge in a press release issued in early November by the FHA. “The critical step we're taking today ensures HUD is in alignment with our industry partners, and it will make more quality affordable housing available to people across the country.”