Investor Owned Manufactured Home Communities and RV Resorts
Over the past 25 years, CCGI has assisted owners of Manufactured Home Communities and RV Resorts with their financing needs. Our clients range from the sole proprietor who owns one or two communities to larger publicly owned companies. We have helped our clients with loans varying in size from $900,000 up to portfolio transactions in excess of $50,000,000.
Below is a general outline of our different Loan Programs. If you have a balloon payment, acquisition, or interest rate adjustment coming up in the next couple of years or you are considering refinancing your current loan for other reasons, we would welcome the opportunity to talk with you.
|Categories||Fannie Mae/ Freddie Mac||Life Companies||Banks||CMBS|
|Loan Amounts||$1.0M+||$1.0M+||No min requirement||$3.0M+|
|Interest Rates||Quoted on a deal by deal basis|
|Rate Lock||1w before closing||Upon Aceeptance of Application or Commitment||Upon Aceeptance of Application or Commitment||At Closing|
|Loan Terms||Up to 15yr Fixed||Up to 30yr Fixed||Up to 10yr Fixed||Up to 10yr Fixed|
|Funding Timeline||75-120 Days||30-75 Days||30-45 Days||60-90 Days|
|Interest Only||Yes||On Low LTV||No||Yes|
|Forward Commitment||N/A||Up to 9 Months||N/A||N/A|
|Lender Fees||$3,500 – 10,000||$3,500 – 10,000||0.50% of loan amount||N/A|
|Future Advance||Yes||Select Loans||Yes||No|
|Prepayment||Yield Maintenance (YM) or Defeasance||Can be Flexible, YM is Normal||Can be Flexible||Defeasance|