Mobile Home Park Financing
Manufactured Housing and Mobile Home Park Mortgage Brokerage, Lending & Advisory. Financing options include HUD, Fannie Mae, Freddie Mac, banks, life companies, and CMBS lenders.
Mobile home parks are undoubtedly an important multifamily market niche. There are many important factors to consider when buying or refinancing a mobile home park. Although misunderstood by many, mobile home parks serve as stable income producing assets and can be fantastic investments if well managed and purchased correctly.
Although many advisories and lenders are unaware, there are a wide array of product options for mobile home parks, including, but not limited to CMBS Loans, Fannie Mae® Loans, and permanent bank financing. With the right property, lenders should be fighting to offer competitive loan terms. Loans start at $1 Million and leverage ranges from 75%-80% LTV. The following are a short list of guidelines for financing manufactured housing communities.
Mobile Home Park Financing Requirements
DSCR 1.25 - 1.30
Existing & Stabilized
50+ Pad Sites
90%+ Tenant Owned Homes
More Than 50% Doublewide
All Roads Must Be Paved
All Hitches Must Be Concealed
No Option To Purchase Pad Site On Leases