Mobile Home Park Nationwide Lending Guidelines
Eligible Properties
Infinity Commercial Capital’s competitive financing programs are available
for acquisition, refinance and acquisition / rehabilitation projects.
Eligible Property Locations
Throughout the U.S. within market areas that demonstrate a stable
occupancy. Rent concessions are taken into consideration and usually
require higher coverage as well as reserves.
Loan Size
Infinity separates its loan programs into two underwriting divisions,
Small and Large Balance. Loan amounts range from $ 500,000 & up.
Debt Service Coverage Thresholds
Typically, Infinity considers a 1.2 x Ratio adequate for stabilized mobile
home park properties. Infinity encourages your submission with Ratios
below the aforementioned (e.g. rehabilitation /stabilization).
Loan-to-Value Ratio
First Position: Up to 85% for Institutional, Fannie Mae DUS, Conduit and
Life Company programs. We will also cover 90% on FHA-insured loan programs
and short-term facilities for approved properties. Rehabilitation
/Stabilization projects range between 72% -90% .
Loan Terms
Permanent loan terms: 3, 5, 7, 10, 15, 20, and 30 years.
Amortization
Fully amortized loans up to 20-40 years.
Tenancy
Leases should be no less than six (6) months at lease commencement of a
tenant. Month-to-month lease arrangements are also considered.
Time Frames
Issuance of term sheets within 24-48 hours. Commitments no later than 30
days of application and closing within 45-60 days of the commitment.
Fees
Infinity’s fees and deposits fluctuate depending upon the nature of the
financing being requested and /or provided. However, no fees will be due
preceding the issuance of the loan application.
