Georgia mobile home park acquisitions cluster on the I-75 / I-85 corridor and Atlanta exurbs — 40–90 pad TOH communities at $1M–$2.8M basis while South Georgia rural parks trade $400K–$1M with well/septic and higher POH legacy. Fulton and DeKalb structural permits add timeline on value-add; Savannah wind insurance does not price Augusta inland files. Hub: manufactured home community financing.
Bridge IO at 8.99%–13.5% and 65%–75% LTV is standard on qualified Georgia sponsors; regional banks and Freddie/Fannie MHC takeout follow 50+ pads, city utilities, and 80%+ occupancy. Rates: MHP loan rates 2026. Outdoor hospitality sibling: RV park loans Georgia · Sub-agency floor: loans under $3M.
Georgia MHC segments and basis bands
| Market | Typical pads | Buy range | Refi path |
|---|---|---|---|
| Atlanta exurban (Henry, Spalding, Newton) | 40–90 | $1M–$2.8M | Regional bank / Freddie |
| Macon / Warner Robins corridor | 35–70 | $850K–$1.8M | Community bank |
| Savannah / Coastal inland | 25–55 | $700K–$1.6M | Community bank |
| South GA rural (Lowndes, Coffee) | 15–35 | $400K–$1M | Bank after utility upgrade |
| North GA (Hall, Forsyth spillover) | 30–60 | $950K–$1.7M | City utilities preferred |
Clayton and Henry counties south of Atlanta offer 1980s–2000s vintage parks with deferred road maintenance — exactly where $120K–$180K CapEx plus POH conversion produces 100–150 bps cap-rate compression at refi. Lowndes County (Valdosta area) trades $420K–$780K on 22–38 pad TOH with well/septic — bridge terms should extend 16–18 months for utility upgrade sequencing.
Fix-and-flip context: Georgia fix and flip guide
Worked example — Henry County 58-pad Atlanta exurban TOH
$1.42M — 71% occupancy, municipal water, 24% POH, Henry County south of Atlanta
| Phase | Detail |
|---|---|
| Bridge acquisition | 69% LTV ($979,800) at 11.5% IO |
| CapEx holdback | $175K — road repair, POH-to-TOH conversion (8 homes), pad fill marketing |
| Months 1–15 | POH reduced to 11%; occupancy 71% → 85% |
| Lot rent lift | +$42/pad ($368 → $410 avg) |
| Stabilized NOI | ~$12,850/mo after opex |
| Refi | Illustration. $1,080,000 at 7.25% is about $9,859 a month on a 15-year payment. The $12,850 NOI covers that payment about 1.30 times. Month 17. |
Strategy: bridge-to-agency playbook · POH vs TOH
Georgia diligence checklist
- Hurricane / flood — coastal and low-lying inland (Savannah fringe, South GA)
- Well/septic engineer report — required on bridge for rural files
- POH-to-TOH conversion plan before agency refi application
- Pad expansion zoning — county variance and health department caps
- Insurance at current quote — wind/hail in opex, not seller pro forma
- 12-month rent roll — seasonal turnover in exurban parks masks true occupancy
Atlanta MSA submarkets for pad-fill thesis
Clayton, Henry, and Spalding counties south of Atlanta offer 1980s–2000s vintage parks with deferred road maintenance — exactly where $120K–$180K CapEx plus POH conversion produces 100–150 bps cap-rate compression at refi. North Georgia (Hall, Forsyth spillover) trades tighter but with city water/sewer already in place, shortening the agency checklist. Request 12-month rent roll, not a snapshot, before bridge sizing — seasonal turnover in exurban parks can mask true occupancy.
Why Georgia vs. Florida for MHC sponsors
| Factor | Georgia | Florida |
|---|---|---|
| Insurance opex | Lower inland | Coastal wind premium |
| Lot rent growth | Atlanta in-migration | Snowbird 55+ stability |
| Agency refi | Regional banks strong | Sunbelt bank + agency mix |
| Bridge thesis | Fill-up TOH exurban | Fill-up + insurance re-quote |
Many sponsors underwrite both — same bridge terms nationwide via MHC hub.
Exit and refinance path
Georgia MHC refi typically routes through regional banks on sub-$3M files — agency MHC secondary until 50+ pads with municipal utilities.
Regional bank exit (Atlanta exurban): the Henry illustration uses a $1,080,000 permanent loan at 7.25% in place of the $979,800 bridge. A 15-year payment is about $9,859 a month. The $12,850 NOI covers that payment about 1.30 times. Banks still want the park-owned share reduced and a trailing rent roll that matches the T-12.
Henry County’s later loan is whatever a Georgia regional bank will actually offer once park-owned homes are reduced. No Freddie Mac park rate is quoted in this section. The sequence sits in the bridge-to-agency playbook.
South GA rural caution: Septic capacity caps vacant pad count — verify county health sign-off before underwriting 80%+ occupancy target. Fill-up timeline 14–18 months — size bridge with 12-month extension option.
POH legacy parks: Model $175–$275/home/mo habitability opex when 35%+ POH — conversion sequencing per POH vs TOH.
Seller financing: Off-market Georgia mom-and-pop exits often include 5%–7% seller notes — structure subordination to bridge in purchase agreement via seller financing MHP.
Georgia MHC underwriting focus (2026)
- Permits: Fulton/DeKalb structural scope timeline on value-add; separate Savannah wind from Augusta inland insurance
- Occupancy: I-85 corridor trailing 12-month pad count; POH-heavy parks model home sales
- Utilities: Well/septic engineer sign-off on South Georgia rural; municipal stub on exurban expansion
- Exit: Regional bank or Freddie MHC when 50+ pads, city utilities, 80%+ occupancy
Include Fulton/DeKalb permit timeline and utility type — Georgia pad-count file · Georgia commercial programs · (833) 264-7776.
Georgia MHC permit and POH habitability timeline
Fulton and DeKalb County structural permits on POH habitability capex add 30–60 days to year-one bridge carry — budget IO reserve accordingly. South Georgia rural parks with well/septic rarely hit Freddie 50-pad / $3M agency floor day one; document community bank refi at 1.25x DSCR instead.
| Submarket | Typical basis | Utility | Agency path |
|---|---|---|---|
| Atlanta exurban TOH | $1.2M–$2.2M | Municipal preferred | 50+ pads possible |
| South GA rural | $400K–$1M | Well/septic | Bridge-to-bank |
| Savannah fringe | $800K–$1.5M | Mixed | Wind in insurance bind |
Related
- Hard money lenders Georgia
- Hard money lenders Atlanta
- Mobile home park loans Florida — Sunbelt comparison
- Mobile home park loans North Carolina
Include I-85 corridor occupancy, utility type, and POH home-sale velocity — Georgia MHC scenario · Southeast MHC hub · (833) 264-7776
Georgia MHC pad-count diligence
Georgia MHC refi splits Atlanta exurban municipal parks from South Georgia well/septic — I-75 corridor 45–80 pad TOH at $1.2M–$2.2M with 80%+ occupancy clears community bank DSCR before Freddie 50-pad floor. Fulton structural permit delays on POH habitability capex must sit in bridge carry, not permanent pro forma.
Include Fulton/DeKalb permit timeline and utility type — Georgia pad-count file · Georgia commercial programs · (833) 264-7776.
Georgia prices, jobs, permits, and two county asks
The Georgia all-transactions house price index was 662.08 in the second quarter of 2026, up 1.9% from 649.55 a year earlier. The index is not seasonally adjusted. The first quarter of 1980 equals 100. House prices along I-75 are context for the tenants. They are not the park’s cap rate.
Unemployment, not seasonally adjusted, was 3.4% in August 2026 and 3.6% in August 2025, on GAURN.
Private housing permits authorized 5,028 units in August 2026 and 4,180 in August 2025. The series is not seasonally adjusted. More permits mean more site-built starts were authorized that month. A Henry County park still competes pad by pad, not by the statewide permit total.
Henry County’s median listing price was $372,250 in September 2026 and $366,995 in September 2025. Coweta County was $487,819 in September 2026 and $499,450 in September 2025. Those are house lists. A park buyer uses them to see what a tenant’s other housing option costs. The park sale is the rent roll and the pad count.
The home on the pad is a different collateral file
24 CFR 3280.1 covers the manufactured home itself. The standard reaches design, construction, transport, fire safety, plumbing, heat, and electrical systems. Those homes are dwellings. The loan discussed here is the land, the roads, the utilities, and the lot rent.
If the seller owns some of the homes, those homes need a condition note and a separate income line. Tenant-owned homes stay with the residents. Do not send a single-wide retail installment contract and call it a park acquisition. The park loan checklist is the land-lease order.
Jaken Finance Group prices qualified Georgia park bridge at 8.99%–13.5% interest-only, in the 65%–75% value band this page already uses, for 12–24 months. Close target is 7–10 business days after title and the rent roll are complete. A Georgia DSCR loan at 5.75%–10.5% closes in about 14 business days and fits a one-to-four unit rental. It is a different product from the park bridge. This guide does not quote a Freddie Mac park coupon.
Henry County interest and the corrected bank payment
The exurban sketch borrows $979,800 at 11.5% interest-only. Monthly interest is $9,389.75. Seventeen months of interest is $159,626. That takeout month sits inside the bridge term. If road work and home sales run long, say so before you pick a shorter note.
The bank illustration is $1,080,000 at 7.25% with a 15-year payment of about $9,859. The $12,850 NOI covers that payment about 1.30 times. A coverage ratio is the bank’s test. It does not rename the bridge.
The table moves occupancy from 71% to 85% on 58 pads. Eighty-five percent of 58 is about 49.3 pads. Seventy-one percent is about 41.2. Use 41 occupied pads at the start and 49 at stabilization so the roll uses whole pads. Eight homes moving from park-owned to resident-owned is the conversion the table already names. Keep that conversion cost inside the $175,000 holdback. Do not also count those homes as free lot-rent growth.
South Georgia well-and-septic parks and Savannah wind files stay in their own folders. An Augusta inland quote does not price a coastal park. Fulton and DeKalb permit weeks belong in the interest reserve when the work is inside those counties.
Call (833) 264-7776 with the county, the utility type, and the park-owned home count.
Henry County asks versus Coweta County asks
Henry County’s median house list was $372,250 in September 2026. Coweta County’s was $487,819. A tenant comparing a lot to a house is looking at different shelves in those two counties. Lot rent that looks cheap next to a Coweta house can look ordinary next to a Henry house. Build the comparison inside one county.
South Georgia parks on well and septic still need the health-department cap before you count empty pads as income. Savannah wind is a third insurance file. Do not average it with an Augusta inland park or a Henry County municipal park. Fulton and DeKalb structural permits, when the work is actually in those counties, belong in the interest reserve beside the $9,389.75 monthly interest on the Henry illustration.
A Georgia park bridge from Jaken Finance Group stays interest-only at 8.99%–13.5% for 12–24 months, in the 65%–75% value band, and aims to close in 7–10 business days. The later bank loan is the coverage test in the illustration. The house DSCR loan is a separate product for one-to-four unit rentals.
Georgia park / niche segment gates — Atlanta (2026)
- MHP underwriting on Atlanta — pad count, utility infrastructure, and ~0.90% tax on operating entity.
- Fulton/DeKalb permit friction on structural scope — separate Savannah wind from Augusta inland insurance — segment comps do not cross into vanilla SFR Augusta pricing.
- Bridge 8.99%–13.5% IO with documented operating history or value-add scope before agency take-out.
Atlanta MHP bridge 8.99%–13.5% IO · Georgia hard money · (833) 264-7776.