6.99% to 7.5% Fixed Rates - Manufactured Housing Community Financing - Non-recourse

[Robert Jay]

You are now able to receive agency commercial financing on Manufactured Housing Communities that have loan amounts that are less than $1 Million with interest rates ranging from 6.99% to 7.5%

Here’s what this means for you:

• Fannie agency pricing which is currently offering fixed rates between 6.99% to 7.5%
• Non-recourse.
• No tax returns, no paystubs, no W2’s, no 1099’s, and no debt to income ratios.
• Current closing timeframes are 30 days.
• Refi cash outs are also available, and we only need the property to have 20% equity.
• We can offer this program in ALL STATES.
• Terms range from 5 years to 30 years fixed.

Listed below is what I refer to as the “sweet spot” regarding qualifying on acquisitions:

• Manufactured Housing Community sites only.
• You must have previous experience - More than 2 years of similar sized, or greater Manufactured Housing Community experience.
• Stabilized property condition.
• Minimum loan amount is $750,000.
• Minimum down payment is 20%
• Property must adhere to the following tenant site lease protections: Must have a minimum one year renewable lease term, 30 days written notice prior to rent increase, minimum 5 day grace period for non-payment of rent, 60 days written notice of planned sale or closure of the community.
• Property must adhere to the following if it contains owner occupied homes: The homeowner has the right to sell the home without relocating first, sell the home in place within 45 days after eviction, assign the site lease to the purchaser of the home without undue restrictions, and allowing postings of for sale signs on the site.

We bring commercial financing within the reach of commercial, multifamily, residential investment, and fix and flip investors. If you prefer having a single point of contact that is professional, acts with integrity, responsive, answers the phone, and responds to emails the same day, you’ll enjoy working with me.

I've been in the industry since 2004, I've been nominated in Scotsman's guide for over $65 million in production in 2017 and 2018. I've worked on tons of commercial deals, as well as residential. This program is literally a game changer for investors and Realtors, and I look forward to being a valuable long term resource.

Give me a call, send a text, shoot me an email, or post a comment.