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Mobile Home Parks

Mobile Home Park Mortgage Lender - Lending Solutions

Direct Money Lenders offers low, fixed mortgage rates & permanent long-term financing for Mobile Home Parks. We also offer direct “in-house” underwriting approvals for higher-cost, shorter-term, bridge financing solutions. Private money loans or stated income for mobile home parks and manufactured housing communities, located in average to above-average locations nation-wide, are available. Direct Money Lenders’ experts will give you a quick and HONEST answer, based on your unique situation.

The mortgage rates for a mobile home park are directly related to the overall risk of the property & borrower, given each unique situation. Not all mobile home park capital sources are the same and we CAN be flexible in underwriting.

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., where a 5-star rating suggests mobile home parks with paved roads, curbs & guttered streets, rent controlled lots, individual meters, concrete pads, pool, clubhouse, well-located metro areas, etc.

Based on the location, quality of the park, loan amount, documentation provided and time-frame necessary to close, we strive to provide the lowest mobile home park interest rate and best possible term to fit your needs.

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Call us today – 800-838-1889 – Virtually all Commercial Property Types Considered!

Mobile Home Park Loans - General Guidelines

Eligible Properties Average to above-average mobile home park and manufactured housing properties with a minimum of 10 pads or sites.
Maximum of 10% Recreational Vehicle use is typical.
Minimum Loan Size $1000,000 – $5,000,000+
Pricing Tiered pricing, based on LTV and DSCR.
We can work with many document types and FICO scores.
Loan Terms 1 – 30 year fixed terms with
20 – 25 – 30 year amortization – Interest only payments
Prepayment None – Yield Maintenance – Declining
Personal Guarantees Recourse or Non-recourse with standard carve-outs
Minimum DSC 1.00 – 1.25
Loan-to-Value 80% maximum
Occupancy Requirements Stabilized or not stabilized properties considered – 12 month trailing cash flow should support minimum DSCR requirements for max LTV.
Third Party Reports Appraisal
Phase I environmental or insurance
Property inspection
ALTA land survey
Preliminary Submission Package For Mobile Home Park Financing: Include the following in your request for a Mobile Home Park Loan quote:
1. Property description, address, & current debt structure
– Well written summary
2. Representative color photographs – (6 – 7 preferred)
3. Operating statements – YTD & prior – (2 – 3 years preferred)
4. Personal and business tax returns – (2 – 3 years preferred)
5. Current rent rolls
6. Sources & uses
7. Sponsor’s resume