Mobile Home Park Financing Options
At Sunwest Bank, we are experts in mobile home park financing. Our deep understanding of the industry allows us to offer a variety of loan terms and purposes tailored to meet the unique needs of Manufactured Housing Communities and RV Park Model Resorts. Whether you’re a single-project entrepreneur or a large-scale public company, we’re here to support your vision. Our expertise in mobile home park loans is unmatched, and we’re committed to providing the best possible solutions for our clients.
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Understanding Mobile Home Parks
Mobile home parks are more than just a business; they’re communities people call home. We understand the intricacies of these unique properties and the financing needs that come with them. Our experience spans various aspects of the industry, from including income from park-owned homes in our underwriting to providing second trust deeds for qualifying borrowers.
The Importance of Mobile Home Parks
Mobile home parks are crucial in providing millions of Americans with affordable housing options. As a bank specializing in mobile home park loans, we understand the importance of these communities and are committed to supporting their growth and sustainability. We believe that by providing mobile home park loans, we can contribute to the development and improvement of these communities.
Tailored Financing Options
Our financing options are as diverse as our clients. We offer fixed- and floating-rate loans, ranging from $1 to $40 million. Our loan terms are flexible, ranging from 12 months to 10 years, with amortization periods of up to 30 years. We offer leverage of up to 70%, with both recourse and non-recourse options available.
Fixed and Floating Rate Loans
Whether you prefer the stability of a fixed interest rate or the potential benefits of a floating rate, we have options to suit your needs. Our team can guide you through the pros and cons of each to help you make the best decision for your mobile home park. We understand that every financial situation is different, and we strive to provide a few options catering to various needs.
Our Loan Programs
Our loan programs are designed to be as diverse as the communities we serve. We offer construction, bridge, mini-perm, and permanent loans, with a dedicated division for chattel lending and infrastructure improvement or renovations. We also have a dedicated Solar financing division to cater to the industry’s growing demand for renewable energy solutions.
Specialized Divisions for Your Needs
Our chattel lending division is designed to support residents and operators with financing for personal property, while our infrastructure improvement division is dedicated to helping communities upgrade their facilities and services. Our Solar financing division is at the forefront of the renewable energy movement, providing loans for solar installations in manufactured housing communities.
Navigating the Loan Application Process
Applying for a loan can be complex, but we’re here to make it as straightforward as possible. We understand that credit scores can be a barrier for many potential borrowers, so we offer solutions that consider each client’s unique circumstances. Whether you’re looking to finance a mobile home park acquisition or need a commercial mortgage for a larger project, we’re here to help.
Simplifying the Loan Application Process
Our team is dedicated to making the loan application process as simple and stress-free as possible. We’ll guide you through each step, from gathering the necessary documentation to understanding the terms of your loan agreement. We understand that applying for a mobile home park loan can be daunting, and we’re here to make it easier.
Interest Rates and Down Payment Information
We offer competitive interest rates on our loans, with fixed and variable interest options available. Our down payment requirements are designed to be flexible, allowing for various financing options to suit different financial situations.
Competitive Interest Rates
and Flexible Down Payments
At Sunwest Bank, we understand that every dollar counts. That’s why we offer competitive interest rates and flexible down payment options. Whether you’re a first-time borrower or an experienced investor, we’re committed to helping you find a financing solution that fits your budget.
Quality and Types of Communities
We cater to a wide range of communities, from 1-5 star communities. Whether you’re looking to finance a small, single-project mobile home park or a large, multi-site manufactured housing community, we have the expertise and resources to help.
Supporting a Range of Community Types
From small, rural mobile home parks to large, urban manufactured housing communities, we offer financing solutions to support a wide range of community types. Our team understands the unique challenges and opportunities associated with each type of community and can provide tailored financing solutions to meet your needs. Additionally. we offer property management solutions, including scanners, lockbox, and earnings credit analysis to save operators money.
The Sunwest Bank Advantage
At Sunwest Bank, we pride ourselves on our deep understanding of the mobile home park industry and our commitment to providing our clients with the best possible financing solutions. We understand that every real estate deal is unique, and we offer creative financing options to meet each client’s specific needs. Whether you’re looking for traditional loans, seller financing, or other financing options, we’re here to help.
Why Choose Sunwest Bank?
When you choose Sunwest Bank for your mobile home park financing needs, you’re choosing a partner who understands your industry and is committed to your success. We offer a range of financing options, a streamlined application process, and a team of experts ready to help you navigate the complexities of mobile home park financing. With our mobile home park loans, you can achieve your financial goals and contribute to the growth and sustainability of your community.
Mobile Home Park Financing Experts
Our team of experts, based in California, Arizona, Utah, Idaho, and Florida, bring a wealth of local knowledge and understanding to the mobile home park financing sector. Withof experience under their belts, they have honed their skills and developed unparalleled expertise in navigating the complexities of this unique market. Their collective experience and regional insights ensure we provide the most comprehensive and tailored financing solutions for mobile home parks.
The Sunwest Bank Difference
What sets Sunwest Bank apart is our commitment to our clients is we understand that the needs of mobile and manufactured homes communities are unique, and we have tailored our services to meet these specific needs. Our mobile home park loans are designed with the client in mind, offering competitive rates and flexible terms. We are more than just lenders; we are partners in your success.
Mobile Home Parks
Finance Table
Loan Size
$1 - $40mm
Term
12 mo - 10 yrs
Amortization
Up to 30 yrs with Interest Only periods available
Leverage
Up to 70%
Rate
Fixed or Floating
Prepay
Stepdown (Fixed) or Par (Floating)
Recourse
Recourse and Non-Recourse
Quality
1-5 Star Communities
Types
Construction, Bridge, Mini-Perm, Perm. Chattel lending division. Infrastructure improvement or Renovations. Dedicated Solar financing division.