Use this mobile home park loan calculator to turn pads, lot rent, and park-owned home rent into net operating income, then size a bridge loan at 65% / 70% / 75% LTV with interest-only carry inside the published 8.99%–13.5% band. That is the same box Jaken Finance Group uses on qualified MHC bridge files — not an agency teaser and not a single-home DSCR quote.
Hub: mobile home park financing · Rates: MHP & RV rates as of August 2026 · Underwriting: POH vs TOH
Mobile home park loan calculator
Model pads, lot rent, vacancy, and opex (higher for park-owned homes) into NOI, then max loan at 65% / 70% / 75% LTV with interest-only carry. Estimates only — not a loan offer.
Annual NOI
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Max loan @ 65% LTV
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Max loan @ 70% LTV
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Max loan @ 75% LTV
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IO payment @ 70% LTV
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NOI ÷ IO @ 70%
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Occupancy
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Formula — pads to NOI to max loan
Monthly gross = (occupied TOH pads × lot rent) + (occupied POH × home rent). If you also model empty pads as potential income, apply a vacancy haircut on that potential — or leave vacancy at zero and enter only occupied pads.
Monthly NOI = monthly gross − operating expenses − POH habitability reserve.
Max loan = purchase or as-is value × 0.65 / 0.70 / 0.75.
Interest-only payment = loan × (rate ÷ 12). Coverage = monthly NOI ÷ IO payment. A ratio under 1.0 at in-place NOI means the park cannot carry that leverage today — fill plans do not pay interest in month one.
Why POH needs its own line
Tenant-owned home (TOH) parks collect lot rent. Park-owned home (POH) parks also collect home rent and pay for turnover, HVAC, and habitability. Agency MHC desks often cap POH ratios. Bridge lenders can still fund POH-heavy parks when the reserve is modeled. Skip the reserve and the calculator will lie about surplus.
A common habitability reserve in worked examples is $150–$250 per POH per month. Raise it when homes are old or the state has strong tenant remedies. Lower it only when the T-12 already shows those costs inside opex — do not double-count and do not zero it out because the homes “look fine.”
Full fork: POH vs TOH underwriting. Exit path after fill: bridge-to-agency playbook.
Worked example A — 36-pad POH-heavy park (matches the calculator defaults)
| Input | Value |
|---|---|
| Pads / occupied | 36 / 26 (71%) |
| POH | 14 homes |
| Lot rent / home rent | $350 / $700 |
| Opex | 35% of gross |
| POH reserve | $200 / home / month |
| Purchase | $1,150,000 |
| Rate | 11.0% IO (inside 8.99%–13.5%) |
At those defaults, annual NOI after reserve lands near the mid–$100Ks depending on how you split TOH vs POH occupancy. Max loan at 70% is $805,000. Interest-only at 11% is about $7,380 per month. If in-place NOI cannot clear that payment plus a thin buffer, lower leverage before you write an offer.
Full narrative example: 36-pad POH-heavy park turnaround.
Worked example B — clean TOH park at higher occupancy
Same 36 pads, 33 occupied (92%), 0 POH, lot rent $375, opex 28%, purchase $1,350,000, rate 9.75% IO.
Gross is mostly lot rent. No habitability reserve. NOI is stronger relative to value. Max loan at 75% is about $1,012,500. Interest-only at 9.75% on that balance is about $8,230 per month. This file often sits toward the tighter part of the published band — municipal utilities and low POH help. It still needs a T-12 that matches the bank statements.
What the coverage ratio is telling you
- 1.25x+ at in-place NOI — often enough room for tax, insurance, and a small reserve on a bridge file at that leverage.
- 1.0–1.25x — marginal. Stress a rate toward the high end of 8.99%–13.5% and a lower LTV.
- Under 1.0x — the park cannot carry that loan today. Seller carry, more cash, or a smaller loan — not a pro forma fantasy.
Permanent takeout (community bank or DSCR at 5.75%–10.5%) uses an amortizing payment, not this IO number. Model both. Channel comparisons: MHP rates guide.
Agency floors vs what this calculator is for
Fannie Mae MHC and similar agency boxes typically want 50+ pads, high occupancy, municipal utilities, and low POH. Most parks that need a private bridge fail those tests on day one. This calculator is for the private box — sub-agency, turnaround, and small-balance files. Small-balance context: MHP loans under $3 million.
Operating expense ranges that do not break the model
Stabilized TOH parks often run opex in the mid-20s to mid-30s percent of gross when taxes and insurance are included. POH-heavy parks run higher. Rural well/septic or lagoon parks add maintenance variance. If your seller claims 15% opex with POH and a lagoon, believe the T-12 after you normalize — not the marketing flyer.
Taxes and insurance should be actual quotes when you underwrite. The calculator’s opex percentage is a shortcut for screening. Replace it with a line-item budget before you lock a purchase price.
Seasonal and RV files
This widget is built for manufactured housing communities with monthly pad and home rent. RV parks and campgrounds with a short season need a trailing-year income shape, not July annualized. Start at the RV park financing guide and the shared rates stamp. You can still use NOI ÷ IO coverage once you have a honest annual NOI — do not feed peak-month site rent into “lot rent” and call it a year.
Occupancy math that sponsors get wrong
Entering 36 pads at $350 lot rent and 70% occupancy as a vacancy slider on full potential income is not the same as entering 26 occupied pads. The calculator supports both styles. Pick one. Mixing them double-counts empty pads.
In-place occupancy is what pays interest this month. Pro forma occupancy is what a takeout desk might believe in month fifteen. Offer prices should clear the in-place test first. Fill plans are upside, not collateral.
Taxes, insurance, and private utilities
Opex percent is a screen. Real underwriting uses tax bills, insurance quotes that name the lagoon or flood zone, and recent well/septic/lagoon tests. A cheap binder that omits the lagoon is not a quote we will underwrite. Rural utility context: rural mobile home park hard money.
When taxes reassess at sale, the trailing NOI you inherited is not the NOI you will carry. Ask the assessor how parks are treated after a transfer. Build that delta into the payment test before you stretch to 75% LTV.
Seller carry and second-position structures
If in-place coverage fails at the leverage you need, a seller note sometimes closes the gap. That is a different capital stack — document it, do not hide it inside “creative financing.” Read seller financing on mobile home parks. The calculator still has to show that the first lien you are requesting can be carried.
State and corridor pages
National math is the start. Local pad rents, lot-rent growth, and utility rules vary. Use state MHP pages for regional context after the calculator says the payment works — for example Illinois, Florida, North Carolina, and Texas. The hub lists the full state set.
Rate shopping inside 8.99%–13.5%
Run the calculator twice: once at the low end of the published band and once near the high end. A file that only clears at 8.99% with perfect occupancy is not the same file as one that still clears at 12.5% after a POH reserve. Pricing moves on occupancy, utilities, POH mix, and exit clarity — see the live stamp on MHP & RV loan rates.
Points and origination change all-in cost. A lower coupon with two points can cost more over a 14-month hold than a higher coupon with one point. Compare dollars for the months you will actually hold the bridge, not a 30-year fantasy amortization.
Rent roll columns that match the widget
Before you trust the output, rebuild the inputs from the rent roll:
- Lot rent total for TOH occupied pads
- Home rent total for POH occupied units
- Vacant pads listed separately — not “blended occupancy”
- Late fees and laundry called out so you do not annualize them as lot rent
Bank statements should support the T-12. If deposits are 12% below the rent roll, lower the calculator’s occupied count or lot rent until the story matches cash. Underwriters will.
Refinance and cash-out after stabilization
When occupancy and POH conversion improve, the product may shift from bridge to refinance or cash-out. The calculator’s IO payment is not the permanent payment. Re-run coverage on an amortizing takeout at a community-bank or DSCR rate inside 5.75%–10.5% before you call the bridge “done.” Product page: MHP refinance & cash-out.
Common mistakes that inflate NOI
- Counting vacant pads at full lot rent with no vacancy haircut
- Putting POH home rent in the lot-rent field and skipping the reserve
- Using seller “pro forma” rents that are not on executed leases
- Excluding taxes and insurance from opex because “the lender adds them later”
- Sizing to 75% LTV on a park that only cash-flows at 65%
Fix the inputs before you negotiate purchase price. A $50,000 price cut that restores 1.15x coverage is worth more than a teaser rate you cannot close.
Bridge term length and extension risk
Most park bridges run 12–24 months. Fill plans slip. Lagoon repairs appear. Community-bank credit committees take longer than a listing agent promises. Know the extension cost before you celebrate month-eleven occupancy. The calculator does not model extension fees — ask for them on the term sheet.
If the exit is agency, read the pad-count and POH tests early. Chasing Fannie on a 36-pad POH-heavy park wastes the contract clock. Private bridge is the product that buys time; agency is the product you earn. Compare channels on the 2026 MHP rates guide.
Using the embed on partner sites
Brokers and park operators can embed the widget from /embed/mhp-loan-calculator/. The embed is the same math without the long-form teaching copy. Send borrowers back to this page for POH, agency-floor, and package guidance — or to the MHP financing hub to apply.
Single manufactured homes on owned land are a different product. Do not use this park calculator for a land-home package — use DSCR for manufactured homes or mobile home fix and flip instead. Park-level financing underwrites aggregate lot-rent NOI and infrastructure; a single dwelling underwrites that unit’s rent or ARV. Mixing the two products in one model is how sponsors mis-size both the loan and the exit.
How Jaken Finance Group uses these outputs
We underwrite the park and the exit — not a W-2 story. Credit is reviewed. Approval rides on the T-12, occupancy, utilities, POH mix, and a written exit (community bank, agency later, sale, or DSCR). Calculator coverage that looks strong still fails if the rent roll does not match deposits or the lagoon test is missing.
Close targets 7–10 business days on complete commercial packages. Construction-style expansion or heavy rehab can run 10–14. Apply through submit a scenario or get approved. Phone: (833) 264-7776.
Package checklist after you like the numbers
- T-12 and current rent roll (lot rent vs home rent split)
- Pad map with vacant, TOH, and POH marked
- Utility map and recent tests if well, septic, or lagoon
- POH schedule and habitability notes
- Purchase contract or refinance payoff
- Entity docs and a one-page exit
Related tools and pages
- Commercial property calculator — NOI, cap rate, DSCR on CRE
- Multi-family calculator — 2–4 unit residential, not MHC
- Land & spec-margin calculator — dirt and vertical stacks
- All investor calculators
- MHP refinance & cash-out
Embed: MHP calculator embed
Calculator outputs are educational estimates only. Rates, terms and conditions offered only to qualified borrowers and are subject to change without notice. All loans are subject to full underwriting. Jaken Finance Group only finances non-owner occupied investment properties.