Mobile home park and RV park bridge loans

What lenders look at

Park-owned vs tenant-owned homes

Lenders prefer lot rent from tenant-owned homes. A high share of park-owned homes means more maintenance and turnover risk, and many lenders exclude or haircut that income or the homes themselves.

Lot rent and collections

In-place lot rent versus nearby communities, rent increase history, and actual collections from bank deposits rather than scheduled rent.

Utilities

City water and sewer versus private well and septic or an on-site treatment plant, and whether water and power are master-metered, submetered and billed back, or included in rent. Private systems bring permitting, testing and capital risk.

Infrastructure

Age and condition of roads, water and sewer lines, electrical pedestals and drainage. Lenders may require a holdback for known infrastructure work.

Density and lot sizes

Pads per acre, lot dimensions that can fit modern homes, and whether vacant lots are actually infill-ready under current local rules.

RV mix and seasonality

For RV parks, the split between long-term, seasonal and transient sites matters. Transient and seasonal revenue is treated more like hospitality income.

How leverage works

Many asset-based bridge lenders cap mobile home park leverage around 60–75% of as-is value, with the land and lot rent driving value and park-owned homes often discounted or excluded. Parks on private well and septic, with failing infrastructure, low occupancy or mostly transient RV income usually see lower leverage. When the plan includes infill homes or utility work, some lenders fund that from a holdback sized to cost.

Use the commercial bridge loan sizer to see whether LTV or LTC decides your loan. The deal form asks for pads or sites, occupancy today and current NOI, so lenders see the numbers they size on.

Documents lenders ask for

• Lot-by-lot rent roll showing tenant-owned, park-owned, vacant and RV sites
• Trailing 12-month operating statement and bank deposit history
• List of park-owned homes with titles, age and condition
• Utility billing details: master meter, submeter or included
• Well, septic or treatment plant permits and recent test results, if private
• Site plan or plat showing lot layout
• Capital and infrastructure budget, if any
• Purchase contract or current loan payoff statement
• Community rules and standard lot lease
• Entity documents and sponsor real estate schedule

How fast it closes

Mobile home park bridge loans commonly close in about 14–30 days. The appraisal can take longer because comparable park sales are thinner. A Phase I environmental is common, with extra attention to private water and wastewater systems, prior on-site uses and any abandoned tanks. Files slow down when park-owned home titles are missing or unclear, when utility records are incomplete, or when the site plan doesn't match what's on the ground.

Common bridge scenarios

Mom-and-pop acquisition

Buy a park with weak records and below-market lot rents, then professionalize management, bill back utilities and raise rents over time.

Park-owned home conversion

Sell or rent-to-own park-owned homes to residents so income shifts toward lot rent before refinancing.

Infill and utility upgrades

Fund new homes on vacant pads or submetering and infrastructure work from a holdback, then refinance on higher occupancy.

Maturing loan payoff

Pay off a seller note or bank loan that is coming due before the park qualifies for agency or CMBS debt.

Typical exit

Stabilized mobile home parks often refinance into agency manufactured housing programs, CMBS, a bank or credit union loan, or are sold; RV parks with heavy transient income more often go to banks or a sale.