Financing: Lease to own = park owned or owner occupied


Hi, I have been force filling and own title to a number of homes…however, we lease to own the homes. Does a bank qualify those homes as park owned or owner occupied?


You can bank on them calling these POH since LTO agreements do not have any intrinsic and marketable value like a mortgage does for a Buyer.


Got it, thanks!

With that, is there a loop hole in starting a new LLC putting the homes in the LLC and then that LLC paying rent to the park?


Sure you can do that, but recommend you evaluate if the benefit is worth the effort - and additional overhead (paperwork) it will create.


The banks are not idiots.