Has anyone built a new park in the last 10 years?


The land (68 acres) is already bought and paid for.


I am currently in the throws of beginning a new park on a piece of property that held an old dilapidated park that had gone out of business. I am in N.E. Texas.


Well good luck Mac, you are then i the same boat as Doug and I. Maybe we should start a support group :). There are quite a few options out there for you, and if you want to talk, not that I personally am that far down the road with the process, let me know and I can try to help you. PM me your contact info if you want.


Great insight. How can you get information on the non-recourse government sponsored loan? If you could provide me a contact person or telephone number, I would love to get more information. Thank you.


I wasn’t going to interject on some of the government sponsored loan comments made awhile back in this post, but since someone is asking for information I might as well correct one statement and add to another. The USDA has not done MHP for some time now, they used to but don’t anymore. I do a lot of Community Facilities loans with the USDA so I ask them every year if they are bringing back MHP but as of earlier this year there were no plans. If anyone has different information on the USDA I would like to know what program director they are talking to. This is one of those rare times I would love to be wrong. The USDA unlike most government entities (think HUD here) is an absolute pleasure to work with. I would love to see them bring the MHP program back.

The HUD 207M is one of the few HUD products I do not do so I have not read the regs on the program. However, as with all HUD loans the process will be long (at least 1 year), expensive, and arduous. You will be required to have an annual audit as well, again expensive. Even though HUD can do a 40+ year loans, they tend to cram them down to 30-35. Even though HUD is a Federal program the State law will prevail when it come to the length of the loan and several states have a cap on commercial loan terms of 30 years. Also, I would be surprised if HUD looks at POH favorably , again I haven’t read the reg so I am assuming it would be similar to Fannie/Freddie in that respect.

With all of the above said the best GSE programs right now are coming from Fannie and Freddie. The down side is that neither one does construction.



@aubmat I had no idea the USDA didn’t do mobile home park construction loans. Good to know. I have only seen the USDA multifamily construction program where they specify that you can have “detached” homes, so I knew it was technically possible, but never knew of any projects that were funded or denied.

And to your point, the loan cannot be used for POH purchases, and if you have over a certain percentage POHs they will not fund you, so the intent is to rent the lot only.


Thank you for your insight and detailed information. I have not had much luck with navigating through the Governmental web-sites to actually get to a live person to talk with.


@dbpsu25 Eddie Hicks is your man if you want to go HUD FHA 207(m). PM me if you want his contact info.


Good luck finding anyone to speak to on the GSE websites. HUD/Fannie/Freddie do not lend directly to consumer. You either need a broker that has access to multiple sources that originate and service on behalf of the GSE’s or you need to go one of them yourself. As a broker my preference is obviously biased. However, I think my reasoning is pretty sound. I have some groups that are absolute Rockstars at multi-family, but wouldn’t have the first clue how to do a MHP. Not all of the lenders can do small balance (anything under $7.5MM), because it is a separate license. The funny thing about that is that MHP is the same program as multi-family, it is just not as popular so many/most don’t even know they can do it. Another reason is just because they can do it doesn’t mean that it is a core product so they won’t necessarily have competency in it.

If you are going ground up, need construction dollars, and have a year to wait I agree with Zachary go with someone who knows the product and has done it before. I don’t know Eddie but if he has been there done it with the 207m program then that would be a good place to start. If you don’t need the construction then I am happy to talk Fannie/Freddie.

BTW Zachary thanks for the additional clarification on GSE’s not lending money for you to purchase POH’s and explaining that there is a max ratio of POH to TOH. Typically the max is 25% POH, and at that level you will need a written plan to reduce it to around 15%.

Hope this helps!


Thank you. Yes, I would like Eddie Hicks number. I appreciate your assistance.


Thank you Aubrey for your response. I will keep everyone posted as to what I find out.


Same here. its a grand adventure…Ive have done the math and am doing the utilities now…


Awesome, where’s your park going to be located, and how are you financing the land and the homes?


North east texas. My banker is financing it all, having the appraisel done as a completed project.


Wow, what types of terms, rates, amorts are you getting?
I assume you’ve developed before and have an established track record?
Does your banker have any interest in doing something similar in South Carolina?

PS nice work on that!


Eddie has been a great resource thus far. Thanks for the suggestion.


Hi Zach,

Would it be possible to also get Eddie Hicks contact info? My team and I are acquiring and in the process of developing communities so any kind of info on programs like the FHA 207(m) or similar types is greatly appreciated as well.


I’d also love to get in touch with Ed Hicks if you’re still in touch with him. Thank you! Will