Mobile Home Park Financing Acquisition and Cash-Out Refinance Loans
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From the first touchpoint, they guided us through step by step and answered our overwhelming amounts of questions. Learn about CMBS, insurance company, pension, REIT and all of our commercial mortgage lending platforms for capital and secondary markets. When it comes to financing the construction of a mobile home park, there are a few different options that you can explore. One option is to get a loan from a bank or other lending institution.
This is my second time working with Wilshire Quinn on mortgage financing and have never been disappointed. I will recommend Wilshire Quinn to every person I know who is in need of financing. Matt and Jeremy at Wilshire got the deal done when others turned my client down.
Why Get Mobile Home Park Financing With Clopton Capital
With this information, our financing experts can explain your possible options in detail and provide a free personalized mortgage recommendation. Resume on the investor, focus on historic/current mobile home park management and ownership as well as other experience you might have in commercial real estate investment properties. A borrower structured in an LLC wanted to purchase an office building in Fort Lauderdale for $9.5 million that was part of an association with 3 other buildings. The borrower planned to use 3rd party management on a non-owner occupied basis, thus buying the building purely as an investment. We structured a 75% loan-to-value non-recourse loan (i.e. a 25% down payment), with a 10-year very competitive rate, 2 years of interest only on the front-end that transitions to a 30-year amortization in year-3.
Commercial real estate loans available nationwide in most primary, secondary and tertiary markets. Contact a commercial mortgage loan officer for details. Commercial real estate loans and multifamily loans available nationwide in most primary, secondary and tertiary markets. Availability, including, LTV, DSCR, and minimum loan size, may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Loan programs, property types and program guidelines, including, without limit, fees, rates and features are subject to change without notice. Integra’s long-standing lender relationships provide non-recourse financing for the acquisition and refinance of mobile home parks and manufactured housing communities.
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However, you also have to accept higher costs, because the longer the fixed interest rate, the higher the interest rate that the bank will call. With a short fixed interest rate period, on the other hand, you benefit from a lower interest rate. But you take a risk as a higher loan balance remains at the end of the fixed interest rate and you may have to take out significantly higher refinancing for it. The monthly repayment rate comes from the loan amount, the annual interest rate, and the annual repayment rate. Particularly long fixed interest rates are usually higher. After entering this data into the German mortgage calculator, we calculate the estimated loan amount, interest rate, and monthly repayment rate.
The payments from the underlying mortgages are used to pay the interest and principal on the bonds. CMBS are typically high-yield, and therefore, are popular with investors looking for income-producing investments. If you are reading this, you are likely already thinking about a non-recourse bridge loan and now wondering what this has to do with a death in unit 146B.
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Its goal was a mortgage with a fixed rate but did not want any prepayment on the loan in case the partners decided to sell and repay their debt. We found a lender on our exclusive long-term relationship list able to arrange a commercial mortgage with a 5-year fixed rate, 25-year amortization that did not have any prepayment at all starting on day-1. This way our client was protected against rate increases for 5 years with enough latitude over that time-period to figure out if it wanted to sell or keep the property.
Throughout the USA, the advantage of buying a mobile home park far outweighs the commitment required. It provides a permanent foundation for your real estate vision, with low or high LTV, manageable mortgage payments, and more. And with Clopton’s access to lenders and credit unions, your investment will be in the right hands. Plus, get the financing structure, down-payment, and mortgage that’s right for you— regardless of your market niche. Leases cannot contain options to purchase pad site or park owner owned homes. Loan Limits$1,000,000 minimum loan amount.RatesCompetitive market pricing.
We’re here for you at every step of the mortgage process
Up to 75% for cash out and refinance on most Kansas mobile home park loans. Up to 75% for cash out and refinance on most Louisiana mobile home park loans. It is our goal to give our clients on-demand access to the most competitive commercial mortgage lenders in the country.
Maximize your MHP investment with financing that meets your individual needs and investment objectives. Clopton is committed to having absolutely no hidden fees or unexpected charges, making the entire process transparent from front to finish.
The borrower’s credit is considered, but is not a primary determinant in the underwriting process. New to CREFCOA capital markets commercial real estate lending? Get started at the CMBS and Capital Markets Loan Center. Fixed interest rateThe longer you fix the interest rate, the more security you have in planning your mortgage loan.
Gravel packed roads will be considered on a case by case basis. Our job is to place the loan that fits your financing objectives for your. Send the details to Caffrey & Company LLC. We should have a loan quote to you in 24 hours Monday – Friday. Photos of the subject with a brief narrative description of the improvements.
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