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Manufactured Housing Community Loans

Arbor’s DUS MH product provides competitive pricing, flexible terms, and functions as a major source of liquidity for community owners.

Loan Amount $1,000,000 minimum.
Loan Term Up to 30 years.
Amortization 25 years standard MHC; 30 years age restricted.
Minimum DSCR 1.25
Maximum LTV 80%. If cash-out, 75%.
Rate Structure Fixed and adjustable rate options available.
Eligible Properties Manufactured/Mobile Housing with a minimum of 50 sites; 50% or more doublewide sites required. Must be rated a 4 or 5 star property.
Eligible Borrower Single Asset Entity.
Occupancy Requirement 90% physical occupancy. 5% limit on non-owner occupied.
Tax & Insurance Escrows Monthly deposits required.
Replacement Reserves Underwritten at a minimum $250 per unit per annum.
Recourse Non-recourse with standard exceptions for fraud and misrepresentation.
Commercial Space Eligible
Required Reports Appraisal, Property Condition Assessment, Phase I Environmental.
Prepayment Yield Maintenance or declining pre-payment provision.
Assumable Subject to approval and 1% fee.
Supplemental Loans Eligible for secondary financing after 12 months.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock Standard 10 day rate lock period. Extended rate lock options available.
Application Deposit $12,500
Processing Fee $3,000 non-refundable. Included with Application Deposit.
Origination Fee Minimum 1%. Par pricing available.
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application.
Good Faith Deposit 2% of loan amount.


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