MORTGAGE BANKERS
A Division of Business Loan $tore          All 50 States

Call one of our Friendly Mobile Home Park Loan Specialists  
8:30am - 5:30pm Pacific Time

To Mobile Home Park Loans Home Page
To About Us
To Mobile Home Park Loan Programs
 To Mobile Home Park Loans Process
To Mobile Home Park Loan Rates
 
   

Loan Programs

MFG STATED

 

  • Loan amounts $500,000 to $5,000,000.
  • 3, 5, 7, 10, 15-year fixed rates available.   After fixed period, rate converts to 6-month LIBOR plus 2.50%.
  • 85% LTV (loan-to-value) on purchases; 80% LTV on cash-out or rate-term refinance
  • Recourse (personal guarantee required unless loan is 50% LTV or less).
  • Mixed use parks are allowed ( 25% commercial rentals and no more that a 10% RV component).
  • Minimum of 15 spaces, and no more than 25% park owned units allowed.
  • Term: 30-years, no balloon in 10 years.
  • Amortization: 30-years
  • Down payment can come from home equity loan. Borrower must put a minimum 10% down from their own assets.
  • 10% of down payment can be gifted.
  • Seller payment of buyers closing costs not to exceed 3%.
  • Up to 5% deferred maintenance allowed.
  • Closing in 45 days of receipt of borrowers application and loan registration.
  • Closing can be in 30 days with additional rush appraisal fee.
  • Stated Income, no debt to income ratio or net worth to income ratio on the borrower.
  • 60 day rate lock available.


 

 

SELECT PROFESSIONAL

  • Loan amounts $2,000,000 to $100,000,000.
  • Non-Recourse, no personal guarantee.
  • 5, 7, 10-year fixed rates available and terms with 30-year amortization.
  • LTV up to 80% with cash out refinance or purchases.
  • Yield maintenance or defeasance prepayment penalty.
  • Assumable with a 1-point fee.
  • Fully documented loan with debt to income, net worth to loan and liquidity to net worth ratios.
  • 2% refundable 60 day rate lock deposit.

COMMERCIAL LOANS

  • Mini-storage, shopping centers, office buildings, triple net retail, and industrial
  • Loan amounts $1,500,000 to $50,000,000
  • Income on tax returns and personal income-to-debt ratios needed to qualify
  • 5, 7, 10-year fixed rates and terms with 30-year amortization
 
Copyright 2005- 2006, The Business Loan Store, All Rights Reserved