|
Commercial Mortgage Loans |
|
|
 |
| Why Choose Capital Assets,Inc |
 |
| Capital Assets,Inc has the knowledge,
expertise and strategic relationships required to
provide you with the most competitive rates and terms
for your commercial property loan. |
-
Multiple commercial financing options
- Competitive interest rates, terms and costs
- Knowledgeable and seasoned commercial mortgage
specialists
- Certainty of execution
- Convenient electronic loan process saves you
time and money
|
|
|
|
| Request a Quote Today! |
 |
| Provide some basic information
about the property and commercial real estate financing you’re
seeking and we will provide a no cost no obligation
quote. |
-
Security and privacy protected
-
No social security number required
-
No credit inquiry
-
No cost or obligation
|
 |
|
|
| Commercial Learning Center |
 |
|
|
|
|
|
|
 |
|
|
Home >
Commercial Loan Center Refinance or Purchase |
Fannie Mae Manufactured Housing Loan Program Overview
|
| The Fannie Mae Manufactured
Housing financing program provides financing options
with flexible financing terms and competitive pricing
for ground lease manufactured housing communities with a
minimum of 50 sites.
|
|
 |
 |
Fannie Mae Manufactured
Community Housing Loan Program Guidelines
|
|
Eligible Properties |
Existing, stabilized high quality,
professionally managed
manufactured housing communities or mobile
home parks, with a minimum of 50 pad sites. |
|
Eligible Locations |
Nationwide - secondary and tertiary
markets considered. |
|
Loan Size |
$1,000,000 minimum with no maximum. |
|
Fixed Rate Term |
5-30 years. |
|
Amortization |
30 years. |
|
Maximum LTV |
75%-80%. |
|
Minimum DSCR |
1.25. |
|
Interest Only |
Available. |
|
Interest Accrual |
Actual/360 or 30/360. |
|
Prepayment Penalty |
The greater of 1% or yield maintenance. |
|
Guarantee |
Non-recourse for most loans subject to
standard carve-outs. |
|
Assumable |
Yes, subject to lender approval. |
|
Supplemental Loan |
Available 12 months from date of closing
of first loan. |
|
Rate Lock |
At commitment. Extended rate lock up to
six months available. |
|
Impounds |
Tax and insurance escrows required. |
|
Replacement Reserves |
Required at $25 per pad/year, but may be
waived for parks in above average condition. |
|
Minimum Occupancy |
85%. |
|
Property Requirements |
- 50 pad minimum
- Minimum of 75% tenant owned homes
- Prefer more than 50% double-wide
homes
- Park must be paved
- Off-street parking
- Homes must be skirted
- Hitches jackposts must be concealed
- Amenities preferred but not required
- Homes should conform to applicable
Manufactured Housing HUD Code standards
- Leases can not contain the option to
purchase pad sites
|
|
 |
 |
|
|
|
|
|
|
