CMBS Loans for Mobile Home Parks

If you’re looking for a CMBS loan for a mobile home park or manufactured housing community, CMBS.Loans has your back. CMBS.Loans has nearly two decades of experience arranging fixed-rate, non-recourse conduit financing for a variety of property types, including mobile home parks. And, with the need for affordable living spaces rising across the U.S., it could be a fantastic time to expand your presence in the manufactured housing sector.

In particular, CMBS loans can help mobile home park operators:

  • Expand a current property: If you’d like to purchase adjoining land to expand your mobile home park, you may be able to do so with a CMBS loan. While in most cases, purchasing land with CMBS loans is not permitted, since you won’t likely have to do much to the land to turn a potential profit, some CMBS lenders might provide you financing.

  • Buy a new property: With demand for mobile home space increasing in major markets across the country, adding to your company’s portfolio could be a smart move. Fortunately, CMBS loans can allow investors to purchase mobile home parks, even if they don’t have lots of collateral.

  • Get the funds to make renovations: If you want to add more amenities to your mobile home park, perhaps to make it more desirable to new tenants, getting CMBS financing could be the perfect choice. Since CMBS loans have little to no cash-out restrictions, they can often allow mobile home owners to extract significant equity from their properties.

  • Refinance variable-rate loans: If you currently have a loan on your mobile home park with a variable interest rate, you may want o refinance it with a fixed-rate CMBS loan. This can help you relax a bit, since you’ll know that your payments won’t increase simply due to changes in the market.

CMBS Loan Terms for Mobile Home Parks

Standard CMBS loan terms for mobile home parks include:

  • Loan Size: $2 million minimum, no maximum

  • Loan Terms: 5-10 year fixed-rate terms with amortizations of 25-30 years

  • Eligible Properties:

    • Must usually be average or above average in quality and location

    • Typically must have at least 50 pads or sites

    • No more than 10% RV pads

    • No more than 10% of homes owned by mobile home park

  • Loan-To-Value: 75% - 80% maximum LTV

  • DSCR: 1.25x - 1.35x minimum DSCR

  • Pricing: Typically based on LTV and DSCR

  • Assumability: CMBS mobile home park loans are typically fully assumable, though a fee may apply

  • Prepayment Penalties: Defeasance or yield maintenance

  • Recourse: Typically non-recourse with standard bad-boy carve outs

  • Occupancy Requirements: Properties usually must be at least 90% stabilized, and the 12-month trailing cash flow needs to support minimum DSCR requirements

  • Third Party Reports:

    • Full Property Appraisal

    • Phase I Environmental Assessment

    • General Property Inspection

    • ALTA Land Survey

Get a Free Mobile Home Park Loan Quote Today

If you’re looking for an mobile home park or commercial property loan from $2,000,000 and up, simply click the button below for a fast, easy, and free quote from an experienced CMBS loan expert. You can also email us any time at