Acquisition, refinance, cash-out, expansion and infill financing for manufactured housing communities, RV parks, campgrounds and resorts. Fannie Mae and Freddie Mac programs to 75–80% for stabilized communities, conventional banks and credit unions, SBA 7(a) and 504 for owner-operated RV parks, USDA B&I in rural markets and bridge capital for turnarounds. UFIG is a commercial loan correspondent: we originate, underwrite and deliver your loan through our Correspondent Lending channel, and place it through our Capital Network when another lender offers better terms.
A manufactured housing community earns rent on the land under homes the residents own. An RV park earns rent on sites, by the night or by the season, with amenities that make it closer to hospitality. Both are land-heavy, both are underwritten on pad or site income and both confuse lenders who expect a building. The agencies, a handful of banks and the SBA all have programs built for them; the work is matching the park to the program.
UFIG does that matching. We underwrite the park the way the lender will, choose between agency, bank, SBA, USDA and bridge, and manage the file with one loan officer from first call to closing.
Program guidelines of the placing lender; subject to appraisal, credit and lender confirmation.
Park lenders underwrite a short list of facts, and most declines trace to one of them being unknown rather than bad. Here is the list, and how the lenders in our Capital Network handle each.
Agency lenders want most homes tenant-owned and exclude park-owned home rent from the loan. Banks and bridge lenders will count it. We size to the right program.
Private water and septic, aging electrical and unpaved roads are priced in, not declined, when the capital plan is clear. Public utilities and 50-amp service open agency terms.
Pad occupancy, lot rent versus market, collections history and a current rent roll. Agency wants 80 percent-plus stabilized; value-add parks go to bridge first.
Seasonal and nightly RV income is hospitality to a lender; annual and long-term site leases are real estate. The mix sets the program and the leverage.
Parks are often outside agency footprints. USDA B&I, community banks and SBA cover the markets the national lenders skip, in all 50 states.
First park or tenth matters. First-time owners qualify through SBA on an owner-operated RV park or through a bank with a management plan; experienced owners get agency and non-recourse terms.
Both agencies have dedicated manufactured housing community programs: 5- to 30-year terms, up to 30-year amortization, 75 to 80 percent loan-to-value, non-recourse with standard carve-outs, fixed or floating, and interest-only periods available. They want a professionally managed, stabilized community with mostly tenant-owned homes, paved roads, public or well-run private utilities and a sponsor with experience. Loans start around $1 million and the pricing is the lowest available for the asset class.
Community and regional banks finance communities and RV parks the agencies will not, including parks with park-owned homes, private utilities, smaller pad counts and rural locations, at 65 to 75 percent of value on 5- to 10-year terms with 20- to 25-year amortization, with recourse. This is the program for most parks under $3 million and for sponsors buying their first or second property.
An RV park or campground that the owner operates, with a store, amenities and services, is an eligible small business for SBA. A 7(a) can cover the real estate, the business, equipment and working capital up to $5 million per borrower, 25-year amortization, 10 percent injection on a change of ownership. A 504 finances the real estate and site improvements with a 20- or 25-year fixed-rate debenture and a 15 percent injection (20 percent for a start-up). A manufactured housing community with long-term residents is generally passive real estate and does not qualify.
In communities under 50,000 population, the USDA B&I guaranteed loan gives a bank the backing to lend on an RV park, campground or community at up to 80 percent of value with a 25- to 30-year amortization, including rural resorts and parks that serve tourism. The guarantee makes a rural park financeable at terms a local bank could not offer alone.
A park with vacant pads to fill, park-owned homes to sell to residents, utilities to replace or a seller who will not wait is financed with a commercial bridge loan from $1,000,000, interest-only, 12 to 36 months, sized to the as-stabilized value and the business plan. Once occupancy and collections prove out, an agency or bank loan takes it out at permanent pricing.
| Requirement | Manufactured Housing Community | RV Park / Campground |
|---|---|---|
| Loan amount | $500,000 to $50,000,000 | $500,000 to $15,000,000 |
| Leverage | 75–80% agency; 80–85% bank; bridge to 75% of cost | 85–90% of cost SBA (owner-operated); 80–85% bank; up to 80% USDA B&I |
| Financials | 3 years operating statements, trailing 12 months, pad rent roll, collections, home ownership mix | 3 years returns, seasonal revenue by month, site mix (transient vs annual), store and amenity income |
| Property | Pad count, utilities (public/private), roads, flood zone, survey, environmental | Site count and hookups (30/50 amp, sewer), season length, amenities, environmental |
| Sponsor | Personal financial statement and returns; credit 680+; management experience or third-party manager | Operating experience; personal financial statement and returns; credit 680+ |
| Recourse | Non-recourse on agency; recourse on bank and bridge | Recourse on SBA, USDA and bank |
| Timing | Agency 60–90 days; bank 45–60; bridge 2–4 weeks | SBA 45–75 days; USDA 60–90; bank 45–60 |
Guidelines of the placing lender, subject to change; UFIG confirms current terms with the lender before issuing a quote.
UFIG originates manufactured housing community, RV park and campground loans in all 50 states through its Correspondent Lending channel and a Capital Network of Fannie Mae and Freddie Mac seller-servicers, community and regional banks, SBA Preferred Lenders, USDA B&I lenders and private capital. Florida, Texas, Arizona, the Carolinas, Tennessee, Michigan, Pennsylvania and the Pacific Northwest are among the most active markets, and rural parks are financed through lenders that already know the county.
One loan officer, one file, no hand-offs. Here is how a park loan moves from first call to the closing table.
The short form or a phone call. Tell us the property, the price or payoff, the pad or site count, occupancy and the rent roll.
Your loan officer confirms the program fit, the leverage you can expect and what the lender will need, before you sign anything.
We pre-underwrite the file, choose the execution path (our Correspondent Lending channel or the Capital Network lender whose credit policy fits) and deliver a written quote.
The same officer manages the appraisal, third-party reports, underwriting and closing.
Call during business hours to speak with a loan officer, or submit your park for a 24-hour review. UFIG originates, underwrites and delivers your loan through its Correspondent Lending channel, or places it with the Capital Network lender that finances communities and RV parks every month when that gets you better terms.
Mobile home park loans, manufactured housing community financing, RV park loans, campground and RV resort financing in all 50 states, from $500,000, through Fannie Mae, Freddie Mac, bank, SBA 7(a), SBA 504, USDA B&I and bridge programs. UFIG originates, underwrites and places park loans through its Capital Network, and also arranges multifamily loans, USDA B&I loans, hotel loans and commercial bridge loans. Call (888) 556-4029.
