Park Financing

I hear everyone talking seller financing. Has anyone bought a park with perminant financing through a national or regional lender, conduit, private equity group, or insurance company? I know local banks finance parks but they seem to be extremely conservative on ltv, short amortization, and seem to all be full recourse. Has anyone successfully obtained a perm loan on an acquisition using anything but a local bank? Thanks for your referrals! Mario

We have commitments from Clayton Bank for some $1mm+ parks we are in the process of closing.  As a general rule, unless your debt amount is $1mm+, your only hope are the small, regional banks.  Above that amount, and especially above $1.5mm loan amounts, conduit becomes an option.  At/above $2mm loan amounts you can get the attention of Citi, Wells Fargo and a few others that will put your loan through to Fanny and/or Freddie.Good luck,-jl-

I just met with a local bank (in Nebraska) that was wide open to mobile home park loans. They wanted 20% down and offered a 20 year fully amortized note. I think there are far more local banks open to funding than people realize. There is a LOT of money that is ready for banks to loan, they are just looking for strong properties to invest in. The edgy stuff will continue to be a challenge, and it rightly should be. So the interest rate was just under 5.5%- for those that were interested in the full details of the term. I will also say- I did not ‘find’ the bank- so it is not really mine to share publicly. I was hired as a consultant on due diligence, contract negotiations and operations- and the old owner of the community turned us to the bank because they had once held the loan.  

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Mario,We are having the same issues. We have found SO much difference from town to town. We talked to 3 banks in one town and they all wanted 50% down, we are looking at another park in another town and found a couple of bankers that seem to be great, one of the deals with MHP’s all the time and will do a 20 year amortization. We are looking at another park in another town now and our best deal seems to be with the Credit Union. We have also found they all want us to manage the park ourselves, the Credit Union requires that you have a “live in area” i.e. have a local address to become a member, we plan to use the park address for that purpose.Good luck!Leighnae Fabian

I work for several local banks that offer attractive park financing. They are located in the Western Wisconsin area but are not limited to properties in that area. PM me if you would like some names.

Hi Erik,
I would be interested in some names on Mobile Home Park Financing. Thank you so much!

Joe Wilson

Hey Eric – I’m looking for a local bank to finance my park purchase in PA. I would love to learn more about your local banks in WI. Please email me at:

Hi Eric I would like the names of the banks in Wisconsin that lend for mobile home parks, I actually live in Greenville Wisconsin.

my email is