Updated Rates as of August 2026
Mobile home park lending blends bridge acquisition, infrastructure capex, and DSCR hold underwriting. Compare lenders on park experience, pad count appetite, and rate band.
Best mobile home park lenders — 2026 shortlist
1. Jaken Finance Group — MHP bridge + DSCR hold
Best for: Value-add and stabilized MHP in focus states
| Factor | Snapshot |
|---|---|
| Products | Bridge, DSCR, commercial |
| Experience | MHP case studies and state guides |
| Close | 7–14 business days by product |
| Differentiator | Focus-market MHP content hub |
Compare: CoreVest vs Jaken DSCR · Visio alternatives · Compare DSCR lenders
2. Requity Group / specialty MHP lenders — park-focused platforms
Best for: Institutional MHP portfolios
| Factor | Snapshot |
|---|---|
| Strengths | Park-specific underwriting |
| Tradeoffs | Minimum pad counts and geography gates |
MHP loans hub
3. Community bank CMBS / agency paths — long-term hold
Best for: Stabilized parks with long hold periods
| Factor | Snapshot |
|---|---|
| Strengths | Lower long-term rates |
| Tradeoffs | Slow close, heavy documentation |
MHP loan rates
Pad economics and what lenders actually underwrite
Mobile home park lending starts with pad count and lot rent, not building square footage. A 60-pad park at $425/month lot rent generates $306,000 annual gross — but lenders underwrite economic occupancy, not physical occupancy. A park at 78% physical occupancy with 5 vacant POH units may show 85% economic occupancy once vacant pads are excluded from the rent roll.
Model lot rent DSCR separately from POH rent. Most bridge and DSCR lenders haircut POH income 10%–20% because tenant-owned homes convert unpredictably and park-owned homes carry turnover and rehab cost. See POH vs TOH MHP underwriting.
| Park type | Day-one product | Exit |
|---|---|---|
| Stabilized 90%+ occupancy | Bank / agency-adjacent | Long-term hold at 5.75%–10.5% DSCR |
| Value-add 70%–85% occ | Bridge 8.99%–13.5% IO | Refi at stabilization |
| POH-heavy turnaround | Bridge + capex holdback | Convert TOH, then DSCR refi |
| Expansion / pad add | Bridge or portfolio LOC | Agency MHC refi |
Utility diligence — the deal-killer most LOIs skip
MHP infrastructure is the collateral behind the collateral. Before you wire earnest money, verify:
- Private vs municipal water/sewer — septic capacity limits pad count; failed perc tests kill expansion plans
- Master-metered vs individually metered — who pays overages affects NOI and tenant retention
- Road and drainage — gravel vs paved, who maintains internal roads, flood zone status
- Electric pedestal condition — 50-amp service per pad vs outdated 30-amp limits rent ceiling
Lenders who close MHP bridge in 7–10 business days still require Phase I and utility documentation on value-add files. Budget 30–45 days for diligence on parks with private utilities.
Seller note vs bank on MHP acquisition
Seller financing works when the seller knows the park’s warts and will carry paper at 6%–8% for 3–5 years while you stabilize. You avoid bank seasoning requirements but inherit seller recourse if you default. Bank or agency debt wins on stabilized 90%+ parks with clean utilities — lower rate, longer amortization, but 45–90 day close and full documentation.
Bridge from Jaken Finance Group fits the gap: close acquisition in 7–10 business days at 8.99%–13.5% IO, execute value-add (fill pads, raise lot rent, convert POH), then exit to DSCR hold at 5.75%–10.5%. Compare: MHP loans hub · MHP financing overview · MHP refinance · MHP loan rates
Worked example — 48-pad value-add in rural Georgia
| Metric | At acquisition | After stabilization (18 mo) |
|---|---|---|
| Purchase price | $1,850,000 | — |
| Pad count | 48 (38 occupied) | 48 (44 occupied) |
| Lot rent | $385/mo avg | $425/mo avg |
| Annual gross | ~$175,000 | ~$224,400 |
| Product | Bridge 8.99%–13.5% IO | DSCR 5.75%–10.5% |
| Bridge LTV | 75% (~$1.39M) | Payoff at refi |
| Value-add capex | $180K (roads, POH conversion, fill 6 pads) | Complete |
Bridge IO for 18 months at 11% on $1.45M average: ~$239K. DSCR refi at 70% LTV on $2.8M stabilized value = $1.96M loan — pays off bridge with cash out for next park.
POH vs TOH — lender income treatment
| Home ownership | Gross rent treatment | Lender haircut |
|---|---|---|
| Tenant-owned (TOH) | Lot rent only | Full credit |
| Park-owned (POH) | Lot + home rent | 10%–20% haircut |
| Vacant POH | $0 until leased | Excluded from DSCR |
| RTO (rent-to-own) | Contract rent | Case-by-case |
Convert POH to TOH before DSCR refi — lenders underwrite lot rent stability, not home sale upside.
MHP lender due diligence checklist
Before LOI on a park, verify:
- Pad count matches county permit — illegal pads kill financing
- Utility maps — private sewer capacity vs pad count
- Rent roll — economic occupancy, not just physical
- Phase I environmental — old gas stations nearby on rural sites
- Flood zone — FEMA map for low-lying pads
- Title — road maintenance easements, not just deed
Specialty MHP lenders close faster when diligence is complete at submission — same 7–14 business day range as SFR bridge when files are clean.
Stabilized vs value-add — product routing
| Park profile | Day-one lender | Exit |
|---|---|---|
| 92%+ occ, 5+ year rent history | Agency / bank | Hold 10+ years |
| 75%–85% occ, rent upside | Bridge 8.99%–13.5% | DSCR at 90%+ occ |
| POH conversion play | Bridge + capex holdback | DSCR after TOH mix |
| Pad expansion | Construction or bridge | Refi at stabilization |
Worked example — 72-pad Florida age-restricted community
A sponsor acquires a 55+ community in Marion County, Florida for $2.4M — 68 of 72 pads occupied, average lot rent $465/mo. Bridge at 75% LTV = $1.8M at 10.5% IO (~$15,750/mo). Value-add plan: fill 4 vacant pads, raise lot rent $40/pad over 24 months, pave internal roads ($220K capex in two draws).
| Metric | Year 0 | Year 2 (stabilized) |
|---|---|---|
| Occupied pads | 68 | 72 |
| Avg lot rent | $465 | $505 |
| Annual gross | ~$379,000 | ~$436,000 |
| Stabilized value (7.5% cap) | — | ~$3.45M |
| DSCR refi at 70% LTV | — | ~$2.42M |
Bridge IO over 24 months at avg $1.9M balance and 10.5% = ~$399,000. DSCR refi at 5.75%–10.5% pays off bridge and returns ~$520K cash to sponsor. Florida lenders must model wind and flood on common-area structures separately from pad income — age-restricted communities still carry clubhouse and pool insurance that hits park-level opex.
Pad expansion and infill — different lender products
Adding 8 legal pads to an existing park is not the same loan as acquiring stabilized stock:
| Expansion type | Typical product | Lender concern |
|---|---|---|
| Infill on entitled pads | Bridge + capex holdback | Septic/perc capacity vs new pad count |
| Raw land adjacent | Ground-up construction or land bank LOC | Entitlement timeline |
| POH removal + pad prep | Bridge draw tied to demolition milestones | Lost rent during conversion |
Utility capacity is the gate — a lender who funds pad expansion without engineered septic report or municipal sewer tap confirmation is underwriting fiction. Budget $8,000–$15,000 per pad all-in for infill on private utilities in rural Georgia or Florida.
MHP lender selection — five questions before LOI
- Minimum pad count — Some specialty shops start at 50+ pads; smaller parks route to bridge or local bank
- POH concentration limit — What % park-owned homes will they carry at acquisition?
- Seller paper subordination — Will they finance behind an existing seller note?
- DSCR exit seasoning — How many months of stabilized occupancy before refi?
- Phase I requirement — Always on value-add; confirm who orders and who pays
Jaken Finance Group closes qualified MHP bridge in 7–14 business days at 8.99%–13.5% IO with DSCR exit at 5.75%–10.5% on stabilized parks in focus states.