Loans for Mobile Home Parks -
Financing and Refinancing
We
are always looking for more lenders - banks, credit unions, mortgage
bankers, brokers, private money, hard money and other sources of
financing to offer our customers.
If you wish to be considered
please
email us at
dave@mhps.com.
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The most diverse and
accommodating financing for Mobile Home Parks and Manufactured Home
Communities Available!
In today's market it can be a
challenge to find the best financing for your mobile home park
purchase or to refinance an existing mobile home park loan. We
are in touch with lenders that are still active in trying to find
you the best rates, loan-to-values, and other terms for your mobile
home or manufactured home community financing needs.
When seeking financing for your mobile
home park purchase or refinance, you want to be assured that you are
dealing with a lender that is honest and will you get you the best
rates and terms.
At
MobileHomeParkStore.com we will only forward your information to lenders
and brokers that Dave has used or that have come highly recommended by
other mobile home park investors.
Once you
have found the right mobile home community to purchase you don't want to lose it because
you are dealing with a lender that does not put the customer first and
misses deadlines.
All you need to
do is fill out the form on the right
to get started today!
Download the FREE Mobile
Home Park Financing Guide
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Nationwide Mobile Home
Community Financing Programs
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General Program
Min. Loan Amount: $400,000
Maximum Loan Amount: $2,000,000
Max. LTV or Loan to Purchase (whichever is less): 75%
Interest Rate: 2 1/2% over prime rate
(approximately 6 1/2%)
Floating Interest Rate, not fixed
No second liens allowed
Coverage ratio of 1.25 to 1.35
Buyer must have experience in real estate or business management
Small Balance
Min. Loan Amount: $100,000
Maximum Loan Amount: $400,000
Max. LTV: 60%
Max: CLTV: 75%
Term: 5 years
Amortization: 25 years
Interest Rate: Prime + 5.50% Floating (fixed rates
available)
Territory: Nationwide Excluding:
AL,AK,HI,MI,NV,OH,WV,VT
Small Balance
Min. Loan Amount: $350,000
Maximum Loan Amount: $1,500,000
Max. LTV: 75%
Max. CLTV: 75%
Term: 5 years
Amortization: 20 years
Interest Rate: Prime + 2% (Floor rate of 7%) Floating
Territory: GA,KY,LA,MS,NC,OH,SC,TN,TX,VA,WV
Mid-Balance
Min Loan Amount: $1,000,000
Max. Loan Amount: $5,000,000
Max. LTV: 75%
Max. CLTV: 85%
Term: 5 years
Amortization: 30 years
Interest Rate: 7.25%
Territory: Nationwide
Mid-Balance
Min Loan Amount: $1,000,000
Max. Loan Amount: $5,000,000
Max. LTV: 75%
Max. CLTV: 75%
Term: 5 years
Amortization: 20 years
Interest Rate: Prime + 2% (Floor Rate of 7.00%) |
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Fill
out this form and we will try to match your request with the mobile home
park lender with best rate, terms, and product for your situation.
Don't
fill out the form if you are looking for a loan with less than 15% down
payment or the loan that you are looking for is under $100,000 or if you
are seeking a second mortgage loan. These programs do not exist
with our lenders.
Other Mobile Home Park Financing Articles and Tips
MHI
Selects Wells Fargo the Community Lender of the Year - 3 Years in a
Row
Wells Fargo Third Edition of the Manufactured Home Community
Financing Handbook - NEW
Your Loan is Coming Due... What Now? - NEW
Alternative Mobile Home Park Financing
What are Lenders Looking for in a Tough Lending Market
Mobile Home Park Loan Program Overview
Q & A
on Mobile Home Park Financing
Article:
Mobile Home Park Down Payments
Article: Upside Potential on Mobile Home Parks
Article: "Park Owned" versus "Pad Only"
Article:
"Mobile Home Income in Park Valuation" |