Mobile Home Park Loan Rates & Requirements (2026)

Investors shopping mobile home park loan rates and MHP financing requirements in 2026 face a fragmented lender market — agency programs ignore sub-$3M parks while bridge lenders fill the gap. This table compares every major channel.

Hub: mobile home park financing · Refinance: MHP refinance & cash-out

Rate and requirement comparison (2026)

Loan type	Rate band	Max LTV	Min DSCR	Pad min	Recourse	Best for
Agency (Fannie/Freddie MHC)	6.5%–7.5%	75%–80%	1.25x	50+	Non-recourse	Stabilized institutional parks
CMBS conduit	6.75%–7.5%	65%–70%	1.25x+	Varies	Non-recourse	$3M+ stabilized
Community bank	6.5%–8.5%	65%–75%	1.25x	10+	Yes	Rural, sub-$3M stabilized
SBA 7(a)	9%–10.5%	85%–90%	1.15x+	Varies	Yes	Owner-operator parks
SBA 504	Below-market fixed	90%	1.15x+	Varies	Yes	Owner-operator RE
Seller financing	5%–8% (negotiated)	70%–90%	N/A	Any	Negotiated	Off-market mom-and-pop
Bridge / hard money	8.99%–13.5% IO	65%–75%	Projected	10+	Yes	Turnaround, sub-agency

Rates reflect 2026 market — individual deals vary by sponsor, occupancy, and utility infrastructure.

Why sub-$3M parks use bridge first

Agency requirement	Bridge lender view
50+ pads	10+ pads OK
$3M+ loan size	$500K–$3M sweet spot
City water + sewer	Well/septic may qualify
80%+ occupancy at close	60%–75% OK on turnaround
Low POH ratio	Model POH opex separately

Playbook: MHP loans under $3M · bridge-to-agency

Underwriting factors beyond rate

Factor	Impact
POH vs TOH mix	POH adds management intensity — POH vs TOH guide
Utility type	Municipal preferred; private water/septic adds diligence
Occupancy trend	Trailing 90 days vs. snapshot
Insurance (FL/coastal)	Wind premium can compress NOI 10%+
Pad condition	Vacant pad count = value-add opportunity or risk

Bridge vs permanent — when to refi

Signal	Action
80%+ occupancy for 90+ days	Shop agency/bank refi
1.25x+ DSCR on T-12	Permanent debt eligible
Still filling pads	Stay on bridge — avoid premature refi
Need equity for next deal	Cash-out refi

Worked example — rate shopping a 38-pad East Texas park

Asking: $875K · T-12 NOI: $118K · Occupancy: 76% · Utilities: well/septic · Sponsor: experienced operator, 21-day close

Program	Rate	LTV	Annual DS	DSCR	Verdict
Agency MHC	N/A	—	—	—	Ineligible — under 50 pads
Community bank	7.4%	68%	~$58K	2.03x	Best rate — if 45+ day close
SBA 7(a)	10.2%	80%	~$71K	1.66x	Lower down — slower
Bridge IO	10.75%	71%	~$67K IO	N/A	Wins on speed — refi at month 16
Seller 5.5%	5.5%	55%	~$26K	4.54x	Seller declined

Bridge closes in 19 days; operator fills 8 vacant pads, refis to community bank at 70% LTV / 7.2% when trailing occupancy hits 82%.

Common MHP rate-shopping mistakes

Mistake	Cost	Fix
Quoting agency rate on a 38-pad park	Wasted 2–3 weeks — ineligible	Confirm pad count and utility type first — see MHP hub
Using peak-month NOI for DSCR	Declined at refi — T-12 required	Annualize trailing 12, not summer snapshot
Ignoring POH opex in pro forma	Overstated NOI → refi surprise	Model POH maintenance separately (POH vs TOH)
Refi bridge before 80% occ for 90 days	Permanent lender passes	Stay on bridge IO (8.99%–13.5%) until stabilization metrics hold
Coastal insurance as afterthought	Wind premium drops DSCR below 1.25x	Get renewal quote before offer — FL/TX parks especially

Sponsor profile — which channel fits

Sponsor	Start here	Why
First-time MHC buyer	Bridge + mentor operator	Agency ignores sub-$3M turnaround
Institutional portfolio	Agency or CMBS	Rate-sensitive at 50+ pads
Owner-operator	SBA 7(a) if timeline allows	10%–20% down, longer close
Off-market mom-and-pop	Seller finance + refi	Negotiated rate; verify subordination
Coastal FL/TX park	Bridge with insurance diligence	Wind premium compresses NOI

Jaken bridge terms (MHP)

Parameter	Range
Rates	8.99%–13.5% IO
LTV	65%–75%
Term	12–24 months
Close	14–30 business days
Coverage	All 50 states

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