Current Loan Interest Rates and Terms

Hi, MHP investors,

I was just quoted an interest rate of 5.75 to 5.95% with 25% down for my first park purchase that has a $1.35M price. The loan will have a 25 year amortization and a fixed rate for 5 years.

I am curious, what are other future owners being quoted out there?

Thank you,


That seems high. Late last year I took out a smaller mortgage with a community bank at 5.125%, five year fixed, 20 year amortization. I shopped very hard.

With the recent quarter point cut, interest rates should be lower now. What type of a lender quoted you those numbers?

Closing deal next week. 5/5 ARM, 4.25%, 25yr am. Recourse. No prepay penalty.

Thank you, mhp. Would you mind telling me who the lender is? Is this your first park?

Small Midwest community bank. No not my first park.

Thanks, again.


Presently 4.50, 25 year amortization 5 year fix–looking to see 4% rates or lower just before 2020 election. There is just to much money looking for a safe home and way to many buyers—time to SELL–best time it 25 years!!!

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I’ve got quotes for:

4.50%, 20 yr am, 5 yr fixed
4.75%, 25 yr am, 5 yr fixed
4.85%, 20 yr am, 10 yr fixed
5-5, 4.75% first 5 years, max 2% increase the next 5, 25 yr am

This is my first park. 25% down and a loan of about $1M. All from local banks.

Trying to decide between these options.

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Thank you, Carl. Can you please provide a bank contact?

Thanks a lot.

Your situation sounds similar to mine. Would you mind please providing contacts?

It is a community bank in Illinois.

4.5% 30 year fully amortized no balloon , bank of seller carry.


Call John Medernach if its in the midwest and over 500k 630 409 7246

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Sure, Scott. Please call me: 713-828-4515.



Peggy I see you are 713 I am a bit south of Houston area feel free to reach out. Thanks

I am really surprised at these rates, 4.1? That’s a great rate even for a owner occupant 30 year mortgage.

I don’t own any parks, but the sfh mobile home deal I’m closing soon is 5.8% and I thought that was great. Maybe parks are a little different, but it’s hard to find any lenders that are willing to mess with mobile homes.

This is accurate. Parks are a different deal entirely. And it is very hard to find financing for MH units themselves.

I would shop around.
One thing you can do is ask your realtor to do a title search for other parks in your area. The report will show who the lenders are. That will give you a few other lenders to look at.


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