Agency/CMBS Debt and Road Type

[Brenden Mitchum]

Hey fellow community owners, I was wondering if anyone has experience securing agency or CMBS debt on a mobile home park with chip n' seal roads?

We are looking to purchase a park and the difference in price between chip n' seal and gravel is about $300k. I've only ever heard that banks want to see asphalt roads for agency & CMBS debt. However, in my research, it seems the topic might not be as black & white as I'd thought.

Anyone with first hand experience in the matter??

Thanks in advance!

[Brett Hulsebus]

@Brenden Mitchum

Hi Brenden,

Apologies for misreading your post.  I was on couple hours of sleep that day.  

Writing this with a full night sleep, I now understand better what you're asking, but don't know the answer. I'll reach out to one of my GSE/CMBS lenders for input and let you know when I receive a response (they should get back to me same day if not the next). Thank you.