Property Type Gate

Single-family homes are universally accepted across agency and private-label programs, with few structural exceptions. Two-to-four unit properties qualify only if owner-occupied and meet specific construction and safety standards—some private-label investors exclude non-site-built units or require additional documentation. Mixed-use properties rarely qualify unless residential portion meets minimum size thresholds.

Condominiums require the entire project to be approved by the lender’s target investor. Fannie Mae and Freddie Mac maintain project approval lists, and even one non-conforming unit in an otherwise acceptable building can disqualify the entire pool. Eligibility hinges on project age, owner occupancy rate, litigation exposure, and commercial square footage limits—any of which can block securitization.

Manufactured housing is the most restricted segment. Only HUD-code units placed on permanent foundations, meeting specific size and design criteria, qualify. Private-label programs may accept these only if titled as real property and compliant with local zoning. Mobile or transportable units are universally excluded, and eveneligible manufactured homes often face higher pricing adjustments or stricter LTV caps.