Spartan Commercial Mortgage Services provides both refinance and purchase programs that beat the competition! We offer Mobile Home Park Financing throughout most of the United States. Spartan Commercial Mortgage offers Stated Income Commercial Mortgages as well as Conventional Commercial Mortgages to get your Mobile Home Park financed.
All Allowed Property Types:
- Apartment Buildings and Multi-Family Properties
- Mixed-Use
- Retail and Office
- Auto Repair
- Day Care
- Funeral Home
- Beauty Shops
- Motels/Hotels
- Warehouse
- Mobile Home Parks
- Campgrounds
- Churches
- Self-Storage
- Dry Cleaner (Drop off only)
- Finally, Recreational properties
Ineligible Properties:
- Raw land
- Likewise, land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value)
- Also, Gas stations (although, we will lend on auto repair/auto body shops) are not allowed.
LTV: Maximum LTV is 80% for Mobile Home Park Financing.
Credit Scores for Mobile Home Park Financing:
- 720 Min Score for our Elite Program
- 660 Min Score for our Traditional Program.
Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information).
Mobile Home Park Loan Financing Rates: We offer 30 year fixed rates, 25 year fixed rates, 20 year fixed rates, 15 year fixed rates, and 3 or 5 year adjustable rate mortgages. Rates will vary depending on credit score.
Points: While Spartan Commercial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.
Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty. Call me for shorter prepayment terms.
States: We transact commercial mortgages in 42 states. Except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.
In conclusion, we are here to help with your upcoming mobile home park loan. We say “Yes” when your local bank says “No.” Since we specialize in this type of financing we are able to help you get your commercial mortgage closed quickly. Furthermore, we will work with you every step of the way and pride ourselves on customer service. Because the approval process for Mobile Home Park Loans are seamless – your loan will close quickly.
Call us today for a free consultation or click here to get pre-approved.
Thanks,
Michael Meyer
President Spartan Commercial Mortgage Services
mike@spartancommercialmortgage.com
(860) 876-0572