What loan rates are people getting in the $600K - $900K range right now?

What rates are you all seeing for loans in the $600K - $900K range right now? I am preparing an offer for a park that is priced way too high but is under market rent in a high demand area.

I need a ballpark of what the loan rates look like right now.

27 units on a lake. Gravel roads, but that is normal by the lake.

We’re seeing about 8.2-8.5% currently.

Don’t overpay, if the numbers don’t work - they don’t work.

You should have ideally a 2-3 % spread between the CAP rate and interest rate…meaning if interest rates are at 8%, you should be buying at a 10-11% CAP rate…at least if you care for the cashflow to work and not be upside down if things go south, and things can go south that you don’t expect. You don’t want to file for bankruptcy.


I’d underwrite to 8.5% to be conservative, but definitely shop a ton of local banks. We just got 7.5% (existing relationship, but still, possible)

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Thanks for the input - is this a 20 or 30 year amortization?

25 year. The 20 year they offered was about 30bp lower I think