Mobile Home Park Loans

Mortgage and Lending with Commercial Capital Ltd.

mobile home park loans

Mobile Home Park Loans

We specialize in providing mobile home park loans for investors looking to purchase or refinance their mobile home park. Unlike the banks offering 15-year or 20-year amortization, we offer up to 30-year amortization. We have Fannie Mae, Freddie Mac and Alt-A loans with a 30-year amortization.

What is the minimum amount for agency mobile home park loans?

Even though the agency apartment loan guidelines allow for a minimum loan amount of $250,000.00 dollars most lenders will not lend below $1,000,000.00 dollars. Since the minimum loan amount is $1,000,000.00 dollars , the purchase price or the appraised value should be around $1,300,000.00 dollars to $1,400,000.00 dollars or more depending on the loan to value. Also agency money requires the roads to be paved and have amenities like a club house, pool, basketball court etc.

Is There an Alternative for Mobile Home Park Loans Below $1,000,0000?

Yes, if your loan amount is below $1,000,000.00, we have alternative correspondent lenders for mobile home park loans that can go as low as $250,000.00 dollars.

What determines the rate and loan to value?

The rate and the loan to value is based on where the property is located, the breakdown of the units, affordability, debt service coverage ratio, loan to value, if the loan is a fixed balloon or and hybrid rate product (an example of hybrid is like an adjustable rate in the residential financing), if the prepayment penalty is a yield maintenance or a step down etc.

What is the benefits of financing your mobile home park loans under the agency program versus a bank loan?

Type of Loan

Alternative Loan

Fannie Mae

Freddie Mac SBL

Non-Recourse No Yes Yes
Loan Term 5,7,10 and even 30 years fixed 5,7,10, 12 5,7,10 years
Interest Only no 1-5 years 1-3 years
Amortization 30 30 30
Max LTV (Acquistion/Refinance) 80%/75% 80%/75% 80%/75%
Property Occupancy 80% for past 90 days 90% for past 90 days 90% for past 90 days
Rehab Budget no Included in Loan – Limited Rehab Not included in loan
Prepayment Penalty 5 year but step down and 3 year is available Yield Maintenance Step Down
Experience New Investor Experienced 12 months ownership Experienced/New Investor
Stated Income or Low Doc available no no
What 3rd Pary reports needed Appraisal starts at $2,500 up to 30 days    
  Engineering starts at $3,000 up to 30 days    
  Survey starts at $2,500 up to 30 days    
Rate Lock no    
  Fannie/Freddie – received 3rd party reports, all due diligence and after final approval    
How Long to Close Alt 45 days    
  Fannie/Freddie 45-60 days    
Closing Cost Under $10MM 3% of loan    
  Over $10MM 2% of loan    

Whether your mobile home park loans is financed via freddie mac, fannie mae or alternative loan products, the loan will cash flow very well with the 30-year amortization. The 30-year amortization typically is a lower payment than the local banks. The Freddie Mac products typically want the loan amount to be above $10 million but the Fannie Mae product loan amount is as low as $1,000,000.00 dollars. Don’t forget that if your mobile home park loans is lower than $1,000,000.00 dollars, I have alternative loan products with attractive terms.  I lend nationwide to out of state investors. So if you are looking to buy or refinance your mobile home park that is located in any state, give me a call. Call me today at (512) 650-8630 or 512-354-5949. You may also click here to fill out the form to get started today.

Karen Schimpf
Commercial Capital Ltd.

e: KarenSchimpf at
m: 512-354-5949


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Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

Your headline caught my attention Karen Schimpf  because my niche, as an agent, is mobile homes. But after reading, I realize even though it's good to know, I do not sell the park, only the mobile homes that are in it. Here in California, buying a mobile home is better than renting and a buyer can show some pride even though it's technically renting.

Feb 24, 2020 11:27 AM #1
Karen Schimpf
Commercial Capital Ltd. - Cedar Park, TX
When the Bank Says No, I CAN Get Your Deal CLOSED!

Hi Eva,  Thank you for reaching out.  I have heard mobile homes are the new investment strategy, very interesting. 

Feb 25, 2020 11:01 AM #2
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Karen Schimpf

When the Bank Says No, I CAN Get Your Deal CLOSED!
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