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Home  >  Conduit Loan Center  > Conduit Mobile Home Park Loans

 
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CommercialBanc Conduit Mobile Home Park Loans

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.

In addition to the conduit option for manufactured housing communities, CommercialBanc offers the Fannie Mae Manufactured Housing Community Loan product properties with a minimum of 50 sites.

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.
Minimum Loan Size $1 million
Pricing Tiered pricing based on LTV and DSCR
95-145 above comparable "on the run" Treasury rates.
Loan Terms 5-20 year fixed terms with 25-30 year amortizations.
Prepayment Defeasance or Yield Maintenance
Personal Guarantees Non-recourse with standard carveouts
Minimum DSC 1.25
Loan-to-Value 75-80% maximum
Occupancy Requirements 90% stabilized properties, 12 month trailing cash flow must support minimum DSC requirements.
Third Party Reports Appraisal
Phase One Environmental
Property Inspection
ALTA Land Survey
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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Conduit Mobile Home Park Loans - Commercial Mortgage Program
Conduit mobile home park financing is
provided on commercial real estate property types located in the Continental United States.

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