Mobile Home Park financing
 
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Graco Mortgage Conduit Mobile Home Park Loans


Graco Mortgage offers low fixed rate permanent financing for mobile home parks and manufactured housing communities located in average to above-average locations nationwide.

With fixed interest rates starting at 95 BPS above the comparable "on the run" Treasury rates, leverage to 80%, and low closing costs. Graco Mortgage's Conduit Mobile Home Park Loan program is among the most competitive mobile home park financing programs in the nation.


Borrowers with mobile home park loan sizes under $1 million, sites with less than 50 pads, or prefer a non-conduit product. The small balance program offers comparable interest rates with lower loan cost and 30 year, non-balloon terms.


Graco Mortgage's Small Balance mobile home park Loan Program provides competitive, low cost apartment financing for five plus individual multifamily units, mixed-use commercial properties with less than 25% of revenue generated from commercial use and mobile home park communities.

With competitive rates, a low overall cost basis, exceptional terms and a simplified streamlined loan process, Graco Mortgage has quickly become the nation's leading small balance apartment loan program.


Small Loan Mobile Home Park Loan Program Overview


* Mobile Home Park Loans from $2,000,000 - $100 Million

* 25 - 30 year Amortizations                                  * 90% Minimum Occupancy

* 3,5,7, 10, 15 Year Fixed Rate Terms                  * No Balloon or Call Provisions

* No Defeasance or Yield Maintenance                 * Maximum LTV 80% / 85% CLTV

* Interest Only Option                                             *Step Down Prepayment

*Limited Appraisal                                                  * Minimum DSC of 1:25:1

* No Replacement Reserves                                  * No Outside Legal Fees

* 60 Day Rate Lock                                                 * Limited Impound Requirements

* Section 8  - Subsidized Rents OK                        * Assumable at Lender Discretion


Mobile Home Park Purchase Guidelines


* A, B and C Property Types Considered

* 90% LTV

* Reduced Recourse and Non-Recourse Personal Guarantees Available

* Mixed-Use Mobile Home Park / Residential Acceptable to 25% Commercial Use

* Small Balance Conduit Mobile Home Park Loan Program Option Starting at $500,000

* Mobile Home Parks Eligible for Apartment Loan Program with 25 + Pads