We Provide Mobile Home Park Financing Nationwide
Clopton Capital is a nationwide commercial mortgage broker active in every city, town and rural area in every state of the US. One of our growth opportunities rests in the arena of mobile park properties from the top-end A mobile park real estate to parks that are maintenance-challenged (at the bottom end of the scale). It is our observation that private investors, small/middle market real estate entities, and family offices are pouring money into this vibrant sector.
Types of Mobile Home Park Financing that Clopton Capital Offer
For any property that features mobile home loans, we can offer a variety of fixed rate mortgage periods and terms for mortgage financing, expert mortgage lending, fast transaction guarantees, and insured lending. Below is a general outline of financing options and terms.
- LTV ratio up to 80% for calculating deposit
- Up to 30-year fixed rate loan with low interest and fixed interest rates
- Up to 30-year amortization, interest only available
- First mortgage & mezzanine borrowing positions
- Loan amount starting at $1 million going to as high as $40 million
- Non-recourse & recourse options
- Conventional commercial mortgage; CMBS;
- Government Agency (FHA, Fannie, Freddie
- Bridge loans
- Acquisitions, refinances, cash outs, construction
We are a company with deep resources and we pride ourselves on the close relationships built up over the last 10 years while securing multi-billions of dollars of closed deals for our clients. Mobile home parks have featured well in this history, positioning us to give you direct access to the most competitive mobile home park property lenders in the market. Advances starting at $1 million going as high as $40 million (and sometimes more) are certainly feasible. Moreover, we can address almost any eventuality: short-term funding with a bridge loan or mezzanine lending is not outside of our scope; construction loans (not often called for) but in cases when needed our links to insurance companies, pension funds, credit unions, and private equity firms pay huge dividends for our clients. If you are purchasing outright we suggest CMBS loans and commercial mortgages with non-recourse available with variable or fixed rate, up to 30-year amortization, or interest only are all on the table.
Once we complete our due diligence and establish that there’s at least 20% equity in the mobile home park under focus we move quickly to get you the lowest possible interest rates. We won’t stop there as we organize terms that will keep you calm and relaxed – free of stress. We will hold your hand right through all the paperwork, even dealing with the fine details such as mobile home park loan down payment & loan payment requirements, clearing closing costs, and seemingly straightforward information (but not always) about monthly payments and expenses. We leave nothing to chance.
Examples of Mobile Home Park Financing with Clopton
Case Study 1: One of our regular real estate investors through an LLC applied for a low-rate term loan to acquire a stabilized mobile home park commercial property located in Arizona for $8 million. The main shareholder wanted fast loan approval and competitive current rates. The bidding process on the land was very competitive and he needed reasonable terms clarified quickly to submit with his offer. More specifically, the LLC wanted a long-term fixed rate, maximum loan proceeds, and a long-term amortization. We were able to structure a deal with Freddie Mac that gave the borrower 80% loan-to-value, 10-year fixed, and a 30-year amortization at a very competitive rate, all while keeping the loan non-recourse.
Case Study 2: A Trust borrower came to us needing a commercial lender to offer the best rates on a bridge loan for a mobile home park real estate investment in Sacramento. The property was on a legacy ground lease and they were having trouble getting appropriate estoppel signed by the existing landowner. They were in effect looking to buy time and not lose the opportunity. The trust wanted mortgage options from a dependable mortgage company that could assist over the long run. We were able to structure a $4 million bridge deal with a lender that was able to navigate the obstacles presented by the landowner, giving the borrower time to negotiate the purchase of the land so that the trust eventually could go back to the permanent market for a conventional mortgage.
Case Study 3: A partnership with a mobile home park in Indiana was looking to cash out refinance a mobile home property that had an existing $2 million loan on it. The property appraised currently for almost $4 million, so we were able to connect them with a mortgage lender who could cash out the borrower up to 75% LTV of $4 million, putting almost $1 million into the partners’ pockets, on a 10-year fixed rate, 30-year amortization with a very competitive mortgage interest rate.
Clopton Capital is experienced in dealing with all financing alternatives as they relate to underwriting collateral for the full range of mobile home parks. To understand more about commercial mobile home real estate funding, contact one of our commercial mortgage lenders by calling 866-647-1650 or using the Contact Us form available from the menu. We’re always happy to work with investors to find the right loan rates and repayment plans to suit your needs. And with low closing costs attached to a straightforward documentation and underwriting process, your commercial loan process will be stress-free.