Mobil Home Park Financing

Mobil home park financingis a special area of the commercial investment areana and many banks and lenders shy away from this property type.  There is a collateral question (as the actual building structures are not adhered to the ground like a typical building) and often the mobil home parks themselves are located in rural areas. 

As we are seeing now with the credit crisis, the rural location is becoming a much bigger issue with lenders.  Many want to see a minimum town population now of 100,000 within a 25 mile radius or so of the subject property.  Often this eliminate most of the borrowers finance options, and forces them to consider only a hand full of loan programs, that may not be ideal.

For example local banks will normally offer amortization schedule of only 20 years, which has a negative impact on cash flow.  Or they may require a substantial amount of side business from you such as deposits, checking, etc.   

Mobil Home Park Loans

The key in this market is know which lenders and banks are still aggressively closing mobil home park loans.  We know how they are.  Here is what you can expect:

• 80% financing on purchases (up to 85% under the right set of circumstances).
• 75% Loan to value on refinances.
• Amortization schedules to 30 years.
• Low, long term fixed rates, 10 years fixed is still available.

We want to work with you on your mobil home park loan.  We have the experience and expertise to get your loan closed, even in this difficult market.  Fill out the pre approval form now, so that we can be prepared when we discuss your situation.