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Conduit Loans
Quick Links |
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Conduit
Mobile Home Park Loans |
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CommercialBanc
Conduit Mobile Home
Park Loans
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CommercialBanc
offers low fixed
rate permanent
financing for mobile
home parks and
manufactured housing
communities located
in average to
above-average
locations
nationwide. |
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With fixed interest
rates starting at 95
BPS above the
comparable "on the
run" Treasury rates,
leverage to 80%, and
low closing costs,
CommercialBanc's
Conduit Mobile Home
Park Loan program is
among the most
competitive mobile
home park financing
programs in the
nation. |
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Borrowers with
mobile home park
loan sizes under $1
million, sites with
less than 50 pads,
or prefer a
non-conduit product,
CommercialBanc
provides mobile home
park loans under its
Banc-Series
Apartment Loan
Program. The
Banc-Series program
offers comparable
interest rates with
lower loan costs and
30 year,
non-balloon, terms. |
CommercialBanc
Conduit Mobile Home
Park Loan Guidelines
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Eligible Properties |
Average to
above-average mobile home park and manufactured housing
properties with a minimum of 50 pads or sites.
Maximum of 10% Recreational Vehicle use. |
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Minimum Loan Size |
$1 million |
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Pricing |
Tiered
pricing based on LTV and DSCR
95-145 above comparable "on the run" Treasury rates. |
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Loan Terms |
5-20 year
fixed terms with 25-30 year amortizations. |
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Prepayment |
Defeasance or Yield Maintenance |
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Personal Guarantees |
Non-recourse with standard carveouts |
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Loan-to-Value |
75-80%
maximum |
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Occupancy Requirements |
90%
stabilized properties, 12 month trailing cash flow must
support minimum DSC requirements. |
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Third Party Reports |
Appraisal
Phase One Environmental
Property Inspection
ALTA Land Survey |
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Preliminary Submission
Package For Mobile Home Park Financing: |
Include the following in your request for a
conduit mobile home park loan quote:
1. Property description and location map
2. Representative color photographs
3. Current rent roll and year-to-date operating statement
4. Operating history - prior 3 years, if available
5. Current year operating budget
6. Existing debt and cost basis
7. Sponsor resume |
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