UMH Properties Inc. Launches Zero-Down Payment Lending Program for Veterans

UMH Properties, Inc. (NYSE: UMH) has announced a groundbreaking initiative aimed at supporting United States Veterans through a new zero-down payment lending program. This initiative, part of the company's Community Outreach Program (COP) in collaboration with Triad Financial Services, is designed to provide veterans with the opportunity to own homes in UMH’s manufactured home communities without the financial burden of a down payment.

Samuel A. Landy, President and CEO of UMH Properties, emphasized the importance of this program, stating, “Manufactured housing can provide quality affordable housing for our Nation’s Veterans. Currently, manufactured homes located in land-lease, manufactured home communities are excluded from consideration for VA loans. The formation of this program will allow Veterans to own their home in a manufactured home community, with similar terms to current VA loan programs. UMH is happy to provide zero-down payment lending options for our Nation’s heroes.” This statement highlights UMH's commitment to making homeownership more accessible for those who have served the country.

UMH Properties, established in 1968, is a publicly traded real estate investment trust (REIT) that specializes in the ownership and operation of manufactured home communities. With a portfolio that includes 145 communities and approximately 27,100 developed homesites, UMH has a significant presence across various states, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Among these, the company operates more than 11,200 rental homes and over 1,000 self-storage units.

The new lending program represents a shift in the landscape of manufactured housing financing, addressing a crucial gap where veterans have historically been excluded from accessing traditional VA loans for manufactured homes in land-lease communities. By providing zero-down payment options, UMH is not only facilitating homeownership but also enhancing the overall living conditions for veterans and their families.

This initiative aligns with UMH Properties' mission of promoting affordable housing solutions. By partnering with Triad Financial Services, UMH is poised to create favorable financing conditions that resemble existing VA loan programs, thereby making it easier for veterans to transition into homeownership.

The program is expected to have a significant impact on the lives of many veterans, who often face challenges in securing housing post-service. By removing the barrier of a down payment, UMH is reinforcing its dedication to serving those who have served the nation.

UMH Properties, Inc.'s new zero-down payment lending program for veterans marks a significant step toward improving access to affordable housing for those who have dedicated their lives to serving the country. With a robust portfolio of manufactured home communities and a commitment to community outreach, UMH is well-positioned to make a meaningful difference in the lives of veterans across the United States. This initiative not only underscores the company’s mission but also highlights the importance of innovative financing solutions in addressing housing challenges faced by veterans.