Can anyone recommend a bank in Louisiana that lends for mobile home park purchase?
Sabine State Bank in Many, Louisiana
Teche State Bank in Lafayette, Louisiana
Thank you Kris. Do you have a contact that you can refer at Teche?
No. The only reason I know they do is because I bought 2 parks from a guy who had them financed through Teche.
Ok thank you. I think the Teche you may be referring to was Teche Federal. They were purchased by Iberia Bank and unfortunately don’t care for park loans to the degree that Teche did.
Sorry to hear that. I have no dealing with them, just remember that name coming up during title work. Sabine Bank is easy for me, but I have a long standing relationship there so I think it’s less about them doing parks and more about the person borrowing the money.
Are you looking for financing? My name is Kurt Wilkerson and Vanderbilt Mortgage finances parks nationwide. You can call us at 1-800-309-5008.
I work with Evangeline Bank in Ville Platte. They financed parks for me at attractive terms.
Thank you for the suggestion.
There’s a bank in Jennings called The Bank. I know they will finance a park if the numbers are right