Loans for Mobile Home Parks is one of our leading loan requests. If you are in the market to refinance or purchase a mobile home park, we have several expert lenders who will review your mobile home park and offer an approval if it is satisfactory.
What you can expect on the loan are:
Manufactured homes have very little equity value to a commercial lender since they depreciate at a rapid rate, do not fair well in storms, and based on the public's understanding are considered "easy to move". The facts are that many of the park-owned homes would cost more to move than their present value and also do not have wheels.
In addition, the tenancy rates are just 10 months on average for park-owned units. Due to these high vacancy statistics, a large number of lenders restrict their mobile home park lending to 25% or less park-owned units.
In either case, if you have a deal and, "need to" - finance a park with a large majority of park owned homes, get in touch with us to get a loan quote. start below.