Commercial Loans Blog

Stated Income Mobile Home Park Purchase

May 7th, 2018 2:28 PM by Karen Schimpf

 
cc: by: https://flic.kr/p/fxvC33
 
Deal of the Week-Stated Income Mobile Home Park Purchase  
 
Type: $575,000 Mobile Home Park Purchase
Where? FL
 
About the deal.... Client came to us for the purchase of this Mobile Home Park. Mobile home parks can be very tough, especially the small ones because most lenders exclude park owned units. This usually leaves the income short for many local banks and lenders. But we have GREAT sources for these types of deals including stated income loans. This one had to close quickly as they had been down the road with another bank and were denied at the last minute. They were now in danger of losing the upfront if we did not close it quickly.
 
We were able to go stated income and close quickly and still get a rate in the 7's on a 5 year fixed with a 30 year amortization that kept the payment low enough for the client to make plenty of money. The client was happy with the speed and responsiveness and ANOTHER BANK DENIAL TURNED INTO A CLOSING. We can do these loans up to 75% STATED. Closings are less than 45 days start to finish. If you or someone you know has a smaller Mobile Home Park deal and needs help getting it closed, give us a call! Commercial Capital is the place to go when the banks say no! Give us a call today!
 
We have the fullest range of Commercial and business loans available. From Private money to non-recourse foreign national to stated income to SBA and of course, great conventional financing with some of the lowest rates around. We underwrite quickly, have terms in writing in 72 hours and do not collect an app fee to get you terms. You risk NOTHING by giving us a call. If you have a commercial or business loan need and the banks are just not doing it for you, give us a call. 

Karen Schimpf 
(512)-650-8630
karenschimpf at gmail.com      


Give me a call today to discuss your deal at 512-650-8630
Posted in:General
Posted by Karen Schimpf on May 7th, 2018 2:28 PM

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