Wells Fargo specializes in financing Manufactured Home Communities ("MHC"), offering various flexible lending programs to meet your needs. Our experience and dedication to this industry has made Wells Fargo a nationwide leader in MHC financing for more than 15 years.
Our products and services include:
- Loan programs: Freddie Mac, Fannie Mae, balance sheet, CMBS lending, correspondent lending.
- Flexible terms: Typically 3- to 10-year terms, floating- or fixed-rate, with longer maturities available.
- Amortization: Typically 30-year schedules. Interest-only available on a case-by-case basis.
- Loan to value: Up to 80% for acquisitions; 75% for cash-out refinances.
- Interest rates: Floating and fixed interest rates set at competitive spreads. Early rate lock typically available on fixed-rate loans.
- Liability: Typically non-recourse to borrower, except for the standard carve-outs.
- Closing process: Typically within 45 to 60 days from receipt of a complete loan application from borrower.
For more information on how Wells Fargo can help you finance manufactured home communities, contact us.