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Conduit Mobile Home Park Loans

CMBS Loans For Mobile Home Parks

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Conduit CMBS  Loans
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Provide some basic information about the property and mobile home park financing you’re seeking and we will provide a no cost no obligation quote.
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Why Choose Crefcoa
Why Choose
Crefcoa's Capital Markets Conduit Lending Group has the experience and capital markets relationships necessary to properly structure your commercial real estate loan to ensure successful execution at the lowest fixed rates and costs in the market.
  • Certainty of execution
  • Knowledgeable and experienced
  • Low fixed rate terms
  • Non-recourse
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A Better Way To Get A Conduit Mobile Home Park Loan

Through our proprietary online commercial real estate lending platform (CRELP) we are changing the way borrowers obtain conduit CMBS loans for mobile home parks. CMBS loans are available for both acquisitions and the refinance of your mobile home park commercial loan. We help unlock the full potential of your mobile home park investment with commercial financing options customized around your individual needs, investment objectives and property characteristics.

 

Crefcoa offers low fixed-rate permanent financing for mobile home parks and manufactured housing communities located nationwide. Conduit CMBS loans are available for mobile home parks where the majority of homes are tenant owned, parks with a three-star or better rating and with greater than 85% historical occupancy.

 

  • $3 million minimum loan size
  • Up to 75% LTV
  • Fixed rate terms up to 10 years
  • 25 and 30 year amortizations
  • Interest only payment options
  • Non-recourse (no personal guarantee)
  • Up to 30 year amortizations

 

In addition to the conduit CMBS loan option for manufactured housing communities, Crefcoa offers mobile home park loans through the Fannie Mae mobile home park loan program and our proprietary Banc Series Program.

 

Request a CMBS quote for your mobile home park, or visit the apartment loan center to learn more about all of our commercial loans for mobile home parks.

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Conduit CMBS Mobile Home Park Loan Program Guidelines

The CMBS Loan Advantage
  • 30-year amortization
  • Up to 10-yr fixed rates
  • Up to 75% leverage
  • No restrictions on cash out refinances
  • Non-recourse
Eligible Properties Average to above-average mobile home park and manufactured housing properties (three-star or better) with a minimum of 50 pads or sites. Maximum of 25% recreational vehicle use. 75% or greater tenant owned homes required.
Borrowing Entity Requirements Bankruptcy-Remote SPE (special purpose entity). Entities may be corporations, limited liability companies or limited partnerships.
Loan Size $3 million minimum with no maximum
CMBS Mobile Home Park  Interest Rates   Interest rates for CMBS mobile home park loans are based on an index (5 or 10-year Swap) plus a spread. Where the interest rate falls in the spread range depends on:
  • Loan size
  • Property (e.g. quality, location, amenity package)
  • LTV, DSCR and debt yield

 

View indicative interest rates for CMBS loans and conduit loan interest rates

 

Loan-to-Value Up to 75%
Minimum DSCR 1.30 minimum
Fixed Terms 5 and 10-year fixed rate terms
Amortization 25-30-year amortizations
Minimum Debt Yield 8%-10%
Prepayment Defeasance or yield maintenance
Personal Guarantee Non-recourse subject to standard carveouts
Fees $15,500 - $30,500, due upon acceptance of LOI
Occupancy Requirements 85% minimum physical occupancy required
Third Party Reports
  • Appraisal
  • Phase one environmental
  • Property inspection
  • ALTA land survey
Preliminary Submission Package for a Conduit Mobile Home Park Loan Include the following in your request for a conduit CMBS self storage facility loan quote:
  • Property description
  • Representative color photographs or property website
  • Current rent roll
  • YTD and two prior years income and expense statements
  • 12 month trailing income and expense statement
  • 12 month operating budget
  • Capital improvements summary
  • Sponsor resume outlining experience owning and operating commercial real estate
  • Management company bio
  Conduit CMBS mobile home park loan program underwriting guidelines are provided for informational purposes only and do not constitute, or should not be interpreted, to be an offer to make a loan, a loan approval, or any other language that implies that by meeting these basic requirements Crefcoa will provide borrower with a loan under these terms.
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Conduit CMBS loans for mobile home parks may not be available in all locations. Eligible property types, loan programs and program guidelines (including, without limit, minimum loan size, LTV, rates and terms) are subject to change without notice and may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Information provided is not an offer to make a loan and should be used for informational purposes only.

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