Updated almost 6 years ago on . Most recent reply
Mobile home park funding
Looking at buying a 30 slip park. Owner cannot do financing but I have excellent credit. It is in IL
Does anyone know a good funding source for such a venture (my normal banks don’t do MHP?
Most Popular Reply
If you google community banks/credit unions closer to the park (within 20-30 miles radius) and call their commercial mortgage/lending folks, you may be able to find someone. I am assuming as it is 30 lots, may be a smaller deal for agency financing.
If bank says they don't finance it, you can ask them for a lead. I have been successful finding lenders this way for smaller transactions.