Financing
Financing Options
The good news is that financing is coming back quickly from its bleak availability in '08 & '09. We have many different programs and just have to find out which box your property fits in. I would not go as far as to say that it is easy to get financing for all assets, but we are back to where we can complete most quality refinances or new purchase money programs in 45-60 days.
We will work on any refinance or new purchase money project that makes sense over $750k. We can and have coordinated finacing for Mobile Home Parks ( MHP's ), Manufactured Home Communities ( MHC's ), RV Parks, and RV Resorts.
The options currently are:
- CMBS loan programs ($2.5M and above, 3 Star or Better MHC & Highly Perm RV)
- Life Co (3 Star or Better MHC,Hybrid, or 70% Perm RV, over $5m)
- Balance Sheet Commercial Lenders (2.5 Star or Better MHC, Hybrid, or 70% Perm RV, over $3m)
- Local Bank ($750k , anything that is less than 65% LTV, with strong historical financials, and a good GUARANTOR)
- SBA 7a and 504 (RV Refi or Purchase NOW UP TO $12m, takes experienced CDC which we have)
- Hard Money and Mezzanine (12-15%, plus several points, for Bridge or Quick deal
Our Loans Feature:
- Fixed Rates from 4.25-7.5%
- Swap Rates From the 3's
- Promotional IO periods for 1-2 years
- Terms 5-30 years (up to fully amortizing)
- Non Recourse for Life Co, Some Balance Sheet Lenders, and FNMA
- LTV's from 25-75% (a few up to 85%)
- Cash Out, Straight Refi, Purchase Money
We work with the best banks, life co's, and other mortgage brokers in the business, are are constantly hunting down small regional banks that like the asset class.
Please call us to discuss your specific needs or fill out the form below to be contacted.