Posted by wes on October 19, 2005 at 08:23:37:
That is a very small commercial loan so your choices are very limited as to what lenders will even consider it.
With the lenders I am familiar with, you should be able to get a 90% loan with the seller holding a second. But, that is the most I would expect you to be offered assuming the property qualifies.
MHP financing help - Posted by LEW
Posted by LEW on October 18, 2005 at 23:35:15:
Looking for ideas/info for financing 25 space MHP in TX.
Purchase price $160,000. Seller will carry 20%. FICO-700+
Any help will be appreciated!!!
Thanks,
LEW
Re: MHP financing help - Posted by JC(CA)
Posted by JC(CA) on April 21, 2006 at 13:44:47:
Lew,
Any update? Which lender did you use?
I am interested in buying a small MPH in the South also. I might be able to put 10% down but not 20%(need seller finance).
What city is your park in?
Re: MHP financing help - Posted by Patrick S. Lawson
Posted by Patrick S. Lawson on October 19, 2005 at 17:52:06:
Lew,
Open up the yellow pages and start calling local banks (small ones). This is going to be your best source of funding on a deal like this.
Re: MHP financing help - Posted by Barry (GA)
Posted by Barry (GA) on October 19, 2005 at 10:01:43:
Have you talked to the smaller local banks? Not the first person at a desk but the real decision makers is who you need to reach. They will probably want to see you put some money in the deal though and/or have good reserves.
Barry
Re: MHP financing help - Posted by Chris Macone
Posted by Chris Macone on October 19, 2005 at 09:43:47:
Hello Lew, There are private money investors and HML that will do MHP. Your credit score is good. I would need more information.