Lenders for Mobile Home Parks

Financing, Hard Money Lenders, Private Money
1

Hi,

I posted previously about location … now this … LENDERS. Appreciated the feedback, by the way, was very helpful.

Bluntly put, I have enough to cover 20% down on a MHP priced at $350K.

I’d be better to keep the price around $250K or less. Allows me to have some side money.

My FICO is about 780, I have very good history on making good on loans, et cetera.

I’ve located a MHP that appears to be a possible nice fit.

I’ve decided I would owner occupy the site.

The guy I’m talking to won’t do owner financing, so that’s out.

So, I will have to look for a lender who does MHP’s.

Would really appreciate feedback, ideas, possible lenders … and so forth.

2

I have lenders but most will want you to have run it for 1 year with owner terms before they will go out on a limb. They know that parks are only as good as their operaters. What general market are you in?