Mobile Home Park Financing
We offer Mobile Home Park Financing programs for the acquisition, refinancing, or cash out of mobile home properties nationwide. When you are considering financing a mobile home property and are in need of a mortgage loan or multiple mortgage loans with quality interest rates, an easy loan application process, and fast closing, there are many more competitive options available outside of traditional local bank lending. We give our borrowers access to exceptional loan rates and loan options with great loan term through our network of lenders. Our lenders include government agencies, banks, credit unions, life insurance companies, pension funds, & private debt companies with straightforward underwriting and approval plus trusted loan officer expertise. Because of our longstanding relationships with these lenders as a dependable broker, we are able to offer the most competitively negotiated loan terms for any mobile home property when you’re looking for a dependable place to qualify and borrow as a buyer.
We also offer targeted expertise to help you understand how mobile home park loans are financed, down payment and loan payment requirements, clear closing costs and straightforward information about monthly payments and expenses on your property loans.
Types of Mobile Home Park Financing & Loans We 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.
- Loan to value 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 amortizations, interest only available
- First mortgage & mezz borrowing positions
- Loan amount starting at $1 million
- Non-recourse & recourse options
Below are the typical loan types that we offer;
- Government Agency (FHA, Fannie, Freddie)
- Bridge loans
- Acquisitions, refinances, cash outs, construction
Our eligible borrowers for mobile home park loans are typically middle & small market cap owners and operators with ownership of one or several properties. We work with all different quality and size of parks to help you access a line of credit through a commercial mortgage, from high end A quality parks to struggling parks with differed maintenance issues. To discuss options for financing a mobile home park and to find out how to get a loan, call 866-647-1650 or fill out the contact us form to the right.
Examples of Mobile Home Park Financing
Example 1) One of our real estate investors came to us looking to apply for a low rate term loan to acquire a stabilized mobile home park commercial property located in Arizona for $8 million, with a desire for fast loan approval and competitive current rates. The bidding process and circumstance was very competitive and the borrower needed terms quickly to submit with his offer. The borrower was looking for long term fixed rate, max 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.
Example 2) A 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, because the property was on a legacy ground lease and they were having trouble getting an appropriate estoppel signed by the existing land owner. They wanted mortgage options from a dependable mortgage company. We were able to structure a $4 million bridge deal with a lender that was able to handle the difficult land owner, giving the borrower time to negotiate a purchase of the land so that they can go back to the permanent market for their property.
Example 3) A borrower with a mobile home park in Indiana was looking to cash out refinance his property and had an existing $2 million loan on it. The Property appraised now for Almost $4 million, so we were able to work as their mortgage broker 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 his pocket, on a 10 year fixed rate, 30 year amortization with a very competitive mortgage interest rate.