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Manufactured Housing Loan Financing


loan products:

fannie mae
Fixed Rate
ARM
DMBS
Tax-Exempt Bond Credit
 Enhancement

Small Mortgage
Seniors
Student
MHC
Structured ARM
DUS PLUS
Unfunded Forward Rate Lock Commitment
Custom Loan Options

freddie mac
Fixed Rate
Float-to-Fixed-to-Float
Capped ARM
High-Leverage
Lease-Up Executions
Tax-Exempt Bond Credit Enhancement
Interest Only

capital markets
Multifamily
Retail
Office
Hotel
Industrial

additional information
interest rate calculation
prepayment options
supplemental mortgages
Fannie Mae Manufactured Housing Communities (MHC)

For high quality MHCs
Product Overview

Eligibility
High quality MHCs. Minimum of 50 sites. 50% or more doublewide sites preferred.

Loan Amounts
$1.5 million minimum. No maximum.

Term/Amortization
5 to 30 year terms
30 year amortization

Interest Rates
Fixed or adjustable

Debt Service Coverage Ratio
1.20x to 1.25x minimum depending on market

Loan to Value
80% maximum (75% max. for 5 year term)

Personal Recourse
Non-recourse with standard "Carve-Outs" and Key Principal obligations

Prepayment   Click for more information
Yield maintenance, defeasance or graduated prepayment

Origination Fee
1% or less when applicable. $20,000 minimum.

Commitment Fee
2% (refundable)

Third Party Fees
Includes legal, appraisal, engineering, and environmental reports. Seismic reports and survey may also be required.

Replacement Reserve Impounds
Required – not less than $25/pad/year. Waiver considered for special circumstances.

Taxes and Insurance Impounds
Required. Waiver considered for low leverage transactions.

Assumability
Assumable with lender approval and a 1% fee

Supplemental Mortgages   Click for more information
Available after 1 year. Up to 2 available, plus 1 more upon sale and assumption. $500,000 minimum.

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