we are looking for a lender for a mhp. 45 owner-occ lots asking $425K. we are hoping to do 95% with a seller 2nd. husband’s credit is 595, mine 660. any advise? Thanks.
The industry standard is 80% LTV for MHP. Anything higher than that then you are looking at higher rates and terms. There are programs that offer 95% CLTV.
A lot also depends on the income generated by the park.