Loans for Mobile Home Parks
Loans for Mobile Home Parks
Program Highlights
Loan programs for Mobile Home Communities nationwide
- Minimum loan amount $1,000,000 for purchase or refinance
- Recourse and non-recourse loans
- Cash-out available
- Options available for value-add transaction
- Park owned homes and rentals allowed
- No upfront broker fees
- Forward advance for additional units and park rehab
Loan Program Information
| Loan Limits | $1,000,000 minimum loan amount. |
| Rates | Competitive market pricing. Fixed or floating rates. |
| Terms | 3, 5, 10 years fixed terms, and longer 30 year fixed rate options available through Fannie Mae’s Loan program. |
| Amortization | 25 to 30 Year Amortization. |
| Prepayment | Several options including no prepayment penalty. |
| Recourse | Nonrecourse loans available (subject to standard carve-outs). |
| DSC | 1.25 DSC minimum. |
| LTV | 65% – 75% typical and up to 80% LTV/LTC maximum. |
| Lender types | Fannie, Freddie, Banks, Credit Unions, CMBS, Bridge, Private Equity |
| Size | 25 pad minimum (50 pad minimum for the agency, Fannie Mae, and CMBS program). |
| Geographic areas | Nationwide (secondary and tertiary markets acceptable). |
