Hi MHU colleagues,
I’m looking for a recommendation for a lender that could help refinance our MHP. We had run this through a few local community banks already but we are looking to see if there are other options. We are looking for a lender that would be able to cashout contingent upon appraisal at a higher LTV, 20-25 year amortization, and mid 4% IR. Could you help with some recommendations? The park is in Raleigh MSA. stabilized 40 lots. Thank you,
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Whats the loan value youre looking for? That will determine a lot.
75 LTV but flexible…amortization is more important to us because we want to hold it long term.
So funny, this is exactly what I am looking for. I want to do a cashout refinance on a small MHP in South Carolina. What has been your experience thus far? Are those local banks looking to play ball? I’ve been getting alot of “no’s”.