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Apartment Loan
Quick Links |
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Manufactured
Housing Loans |
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Banc-Series™ Small Balance
Apartment Loans minimize out of pocket expense, both
initially and long-term with:
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No lender points
No commitment fees
No outside legal fees
No application fees
Capped closing fee of
only $5,500, including lender costs and third party
reports, for loan sizes up to $5 million
Reduced impound
requirements
Eliminate interest rate risk and refinance costs
with 30 year no balloon terms
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Manufactured Housing Loans are
available under the
Banc-Series
Multifamily Loan Program. Restrictions apply*. |
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CommercialBanc
Manufactured
Community Housing Loan
Program
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CommercialBanc
Multifamily Lending
Group offers manufactured
community housing loans
with flexible financing terms and
competitive fixed rate pricing for ground lease
manufactured housing communities
with a minimum of 50 sites through its Agency-Series™
Multifamily Loan Program. |
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CommercialBanc's
multifamily lending
professionals
understand the
complexities of
financing
manufactured
community housing
properties. Their
seasoned
professionals can
structure
customizable
financing terms
including fixed or
variable rate
pricing, MBS or cash
execution, flexible
prepayment options,
and other options to
help borrowers
achieve their
multifamily
financing
objectives. |
Manufactured
Community
Housing
Loan Program
Guidelines
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Manufactured
Community Housing Loans are
available based on
the following
general program
guidelines.
Exceptions to
standard terms are
made on a
case-by-case basis.
Contact a
Multifamily Lending
Expert at
1-888-706-BANC, to
learn more. |
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Eligible Properties |
Higher
quality, professionally managed manufactured housing
communities with a minimum of 50 sites.
Minimum of 15 sites
available under the
Banc-Series™
Multifamily Loan Program. |
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Manufactured Housing
Community Loan Sizes |
Minimum $500,000 -
No Maximum |
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Fixed Rate Terms |
Fixed rate
or variable rate terms from 5-30
years. |
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Prepayment Provisions |
Three
options:
Defeasance
Yield Maintenance
Graduated Provision |
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Amortization |
25 years;
30 years on a case-by-case basis. |
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Maximum LTV |
75% - 80%
for tax-exempt bond status. |
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Minimum Vacancy |
Minimum 5%
vacancy assumption. |
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Recourse Requirements |
Non-recourse available with standard carve-outs. |
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Escrows |
Replacement
reserves; may be waived on a case-by-case basis, tax, and insurance. |
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Third Party Reports |
Appraisal
Phase 1 Environmental Assessment
Physical Needs Assessment |
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Supplemental Financing |
Manufactured community housing loans are eligible for
supplemental financing after 12 months seasoning of
senior note. |
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