I am new to MHP investing and am in the “studying the business phase”. I would like some clarity on a question I have in regards Seller financing and bank financing to acquire one park.
Let’s say a park sells for 400k and the seller is willing to finance 300k with 100k down. If I go to a bank and ask them for a 100k loan for this park and they want 30% down, does that mean 30% of 100k which would be 30k? Or, do they need 30% of the total value of the property which would be 120k?