Posted by Tom Resner on June 03, 2007 at 21:49:16:
80% LTV is typical for the best rates. Is the seller carring back paper? Does it have singlewides? Are any units park owned? Do you have access to at least two years records to establish income/expenses? All these questions will have a bearing on the type and terms of financing. If you give me a call with some of these type of questions aswered I can be very specific. 866-776-2915
Mobile Home Park financing - Posted by Tom (WA)
Posted by Tom (WA) on June 03, 2007 at 16:35:09:
What loan could one expect to get on a MH park purchase in the $700,000 area. Very nice park, excellent credit score. Will have nice positive cash flow.
Re: Mobile Home Park financing - Posted by Jim B
Posted by Jim B on June 05, 2007 at 16:01:19:
Tom,
I’m with a company that’s affiliated with over 100 lenders nationwide. After speaking with my supervisor about your post, he informed me of some new things he’s allowed to do with MHP financing that he hasn’t been able to do in the past. I’ll hook you up directly with him if you like. It’s a great program. If interested, call me at 208-283-7990 or email jorpburton@yahoo.com.
Jim
Re: Mobile Home Park financing - Posted by Finance Guy
Posted by Finance Guy on June 04, 2007 at 06:59:51:
75-90% LTV, 6.5% - 9.25%, 10 yr fixed, 25 yr amt, 6 mo reserves and a 1.25 DSCR. 877-346-4276