Posted by John Corey on June 14, 2007 at 15:47:33:
Interesting product. Thanks for sharing the details. I will keep you in
mind if I need such financing.
John Corey
financing on MHP - Posted by Tom (WA)
Posted by Tom (WA) on June 02, 2007 at 13:34:17:
I’m trying to get an idea of what a lender might do on a mobile home park. Looking for 75 - 80% on a first in the $500,000 range. Excellent credit, nice park.
Re: financing on MHP - Posted by Patrick S. Lawson
Posted by Patrick S. Lawson on June 07, 2007 at 15:01:27:
Solid credit and financials with LTV at or under 85%? Expect rates in the mid to high 6’s on a 10 year term with 30 year amortization.
Re: financing on MHP - Posted by Lin (NC)
Posted by Lin (NC) on June 05, 2007 at 14:05:43:
You can also email Steve WA on the mobile home boards. He has a contact for a mortgage broker based in Portland who is very knowledgeable about MHP’s and has a great reputation.
If you can’t get ahold of Steve, drop me an email.
Lin
Re: financing on MHP - Posted by JimB
Posted by JimB on June 03, 2007 at 16:23:20:
Tom,
We have a great program for MHPs. I’d love to see if we can help meet your needs. Email JimBurton1@wlgdirect.com
Wow! - Posted by Lin (NC)
Posted by Lin (NC) on June 11, 2007 at 12:02:07:
I’d love to know where are you finding these terms! This sounds like a conduit loan and not anything I’ve found through a broker or a local bank.
Lin
Re: Wow! - Posted by Patrick S. Lawson
Posted by Patrick S. Lawson on June 11, 2007 at 12:26:49:
Fannie Mae DUS. Must be 50+ pads and over $500K. Can be less in both cases, but then it is not FNM and the pricing jumps by about 50 bps. No conduit.