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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 on a Nationwide basis are available. Direct Money Lender’s experts will give you a quick and HONEST answer based on your situation.

The mortgage rates for a mobile home park is 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 – 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.

Depending on the location, quality of the park, loan amount, documentation provided, & timeframe necessary to close we strive to provide the lowest mobile home park interest rate and best possible term given your unique situation.

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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