Written & reviewed by Stephen A. Sobin, President of Select Commercial Funding LLC
Fannie Mae Program
Fannie Mae Manufactured Housing Community Multifamily Loan
The Fannie Mae Manufactured Housing Community Multifamily Loan is one of the Fannie Mae multifamily programs Select Commercial arranges nationwide. Its highlights and terms are below, and you can compare it on our Fannie Mae multifamily page or view today’s commercial mortgage rates.
Get a Free QuoteAbout the Manufactured Housing Community Multifamily Loan
The Fannie Mae Manufactured Housing Community Loan finances the acquisition or refinance of manufactured housing communities, with competitive pricing and strong speed and certainty of execution. Loans offer terms and amortizations up to 30 years, are generally non-recourse, and can reach up to 80% LTV.
Program Highlights & Terms
- Property & Borrower Eligibility: Existing, stabilized, professionally managed community; at least 50 pad sites; at least one key principal with similar experience; tenant-occupied homes should not exceed 35%; homes conform to HUD Code; leases of 2 years or longer must not include a tenant option to purchase the pad site
- Term: 5 to 30 years
- Amortization: Up to 30 years
- Interest Rate: Both fixed and variable-rate options available
- Maximum LTV: 80%
- Minimum DSCR: 1.25x
- Recourse: Typically non-recourse with standard carve-outs
- Prepayment Penalty: Flexible options including yield maintenance and declining penalties
- Other Terms: Typically assumable; supplemental financing available; escrows for replacement reserves, taxes and insurance generally required
Terms are indicative and set by Fannie Mae underwriting for your specific property.
What Our Clients Say
“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“I found selectcommercial.com and saw they specialized in apartment building loans. In the end, they were by far the best company I have used. Next time I know who to call first.”
Jerry T. · Long Island, NY“As a real estate attorney, I trust that Select Commercial will deliver apartment building loans and commercial mortgages in a timely manner. The rates and terms offered are excellent. I heartily recommend them.”
David S. · New York CityGet Your Fannie Mae Quote
No cost, no obligation. Written answers within 48 hours on multifamily loans from $1,500,000.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up