Rhode Island

Mobile Home Park Loans

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Mobile Home Park Financing:

Since April of 2000 Caffrey & Company LLC has been active in Rhode Island Mobile Home Park Loans. The best interest rates for MHP loans in Rhode Island start at $1,000,000.  Below are highlights of various nationwide loan products available through these offices:

Loans over $1 million:

  • Up to 80% loan to purchase and value. Up to 75% for cash out and refinance on most Rhode Island mobile home park loans.
  • Loan terms of: 5, 7, 10, 12-years.
  • Amortizations normally, 30-years with some interest only periods available from case to case.
  • Interest rates are very competitive and are subject to change daily. As a general rule the interest rates run about 10 basis points higher than the same rate for Apartment loans.  So if the rate on the apartment loan is 4.50%, the rate for the same loan terms for a mobile home park would be about 4.60%.  See our Current Loan Rates.  Most loans go up or down with the “Like Term” SWAP or US Treasury.  We use Bloomberg as our daily source for US Treasury Rates.
  • For stabilized properties non-recourse loan terms are available.

For a Free Loan Quote please complete this Form (click here).  We can provide a breakdown of the estimate closing costs.

Combination of Mobile Home Parks and RV Parks are acceptable.

Some of the best loan products would like the RV units to be no greater than 25% of the total pad sites.

If you have questions on how to finance a mobile community we can help guild you through the process:

  • Refinancing your existing mobile home park.
  • Would like to how to finance a mobile home park acquisition.
  • Need a bridge loan to assist with improving the property before refinancing? We have the solutions for you.

Application Documents:

The more information you can provide up front the more detailed the loan quite can become. The lenders generally like to see:

  • The last three years (if available) and year to date detailed P&L’s. Ideally, you would be able to show the last two months P&L’s on a month by month basis.  This is known as a trailing twelve month P&L (T-12).
  • Current rent roll. If multiple pad sites please indicate: double wide, single, and RV pad is any.  It is important to know the number of vacant sites as well as the leased pad sites.
  • Indicate if you are seeking acquisition or if this is a refinance with or without cash out.
  • Indicate the combined net worth and liquidity of the investors.
  • Most lenders are OK with about 10% or a little more of park owned homes. However, the lender will only underwrite the income associated with the pad rent, not the income for the home itself.  It is best to separate this income, pad rent from rent on the home.
  • Resume on the investor(s), focus on historic/current mobile home park management and ownership as well as other experience you might have in commercial real estate investment properties.
  • Photos of the subject with a brief narrative description of the improvements. The lender will want to know if the property is on city water and/or sewers.  If the improvements are in a flood zone this would be good information to know up front.

Our job is to place the loan that fits your financing objectives for your.    Send the details to Caffrey & Company LLC.  We should have a loan quote to you in 24 hours Monday – Friday.


On our web site you can read about specific loan products: www.caffreyloans.com/loan-products, offered by Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products. Want more details on sample interest rates for apartment check out Interest Rates for Apartment Loans also on our web site: www.caffreyloans.com/apartment-loans.

Have a question please contact
Mike Caffrey
Telephone: (913) 402-7077
Mike@CaffreyLoans.com
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