Hard Money Mobile Home Park Lender | Hard Money

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Mobile Home Park Hard Money Lender

We DO NOT FINANCE individual mobile homes - The financing Direct Money Lenders offers are only available for the park itself. Underwriting will use the income derived from either the rental income of the pad or the income from the park owned home. Although somewhat limited, our bridge loan or hard money loan financing for Mobile Home Parks is offered within our product suite

Hard money loans for mobile home parks and manufactured housing communities located in average to above-average locations on a Nationwide basis are available.

Direct Money Lender's experts will give you a quick and HONEST answer.

TYPICAL HARD MONEY MOBILE HOME PARK PROFILE:

Not all mobile home park capital sources are the same and we CAN be flexible in underwriting if the deal makes since. Underwriting guidelines and mortgage rates for a mobile home park is directly related to the overall risk of the property & borrower given each unique situation.

Each park is underwritten using a 1 to 5 star system. 1 star being dirt/gravel roads, no amenities, older mobile homes, numerous park owned homes, high single wide ratio, etc - 5 star mobile home parks would suggest paved roads, curbs & guttered streets, lot rent controlled, individual meters, concrete pads, pool, clubhouse, well located metro areas, etc.

Mobile home park mortgage loans under $500,000, the park can be under a 3 star and underwriting can consider majority "park owned" home parks - No value will be given to the park owned homes. Cash flow, NOI, and reasonable CAP rate will be the driving force for value - Loans above $500,000 the park must be at least a 3 star and underwriting preferred pad income parks using the same cash flow analysis as a multifamily apartment building.

Call us today - 317-663-3153 - Many Hard Money Mobile Home Park Loans Types Considered!

General Guidelines:

Eligible Properties	Purchase - Refinance - Cash out - Bank owned, REO properties, Ballooning/Called notes
Minimum Loan Size	$1,000,000 - $3,000,000+ - Smaller loans please visit our Micro Balance Matrix
Pricing	9.99% - 12.99% Interest only - 2% - 5% Origination points (paid at closing)
Loan Terms	12 - 36 months from initial investment - 25 year fixed term offered on Micro Balance
Prepayment Penalty	Usually None
Personal Guarantees	Prefered
Loan-to-Value	65% AS-IS maximum LTV/LTC- As completed LTV is not considered
New Equity (cash) Requirements	Typically no new cash for Refinance or cash out - Purchase minimum equal to the LTV allowed -
Third Party Reports	Appraisal - Collateral value opinion Phase 1 environmental report or Insurance DML Property inspection (case-by-case) ALTA title and land survey
Preliminary Submission Package For Mobile Home Parks:	1. Well written summary OR our online application - Top of page 2. Representative color photographs OR older appraisal 3. Current, detailed Rent Roll, including the unit mix 4. Historical & YTD operating statements 5. Why the need for Hard Money 6. Sources and uses 7. Resume or Bio

Direct Money Lenders has the ability to finance Mobile Home Parks in the following states:

Alabama Alaska Arizona Arkansas California Colorado Connecticut
Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana
Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire
New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina
South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Don't take our word for it...

"Mobile home park financing is difficult to locate. Once I found this site, I was enthused! - Great website for hard money loans!

Roland Mills, Sisters, Oregon

"Many lenders didnt understand my mobile home park purchase and I was getting frustrated with the lenghty process. I found Direct Money Lenders and was happy how quickly a decision was made."

Edgar Thomson, Tampa, Florid