Current Under $500,000 Financing Terms

mobile home university
1

Hello,

Does anyone have any insight as to what the current, typical financing terms are for parks under 50 spaces and less than $500,000 loan size?

Thanks in advance,
Jason

2

We assume 25-30% down, 6% interest, and 25yr Am when running our numbers on parks of that size. Depending on the length of the balloon, you can get a lower interest rate. For example, for a 5 year balloon, you can usually do better than 6%. A 7 year balloon will typically cost you 50 basis points making 6% pretty realistic. I’ll take 7yrs over 5yrs all day though.

3

@CharlesD Much appreciated