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Loan Amount: $500,000 to $4,000,000
Purpose: First mortgage financing on MH communities.
Loan Structure: Five year term, with amortization based on 20 to 25 years. Loan amounts up to 75% of value.
Interest Rate: Typically 2.0% over prime.
Personal guarantees.
Submission Checklist
Photographs
Past three years operating statements
Current rent roll
Bio on Borrower
Current financial statement and three years tax returns on guarantors
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