We currently own and operate 3 parks in NJ and Clarksville, IN.
We are trying to reduce our vacancies by bringing in homes, however do not know that we can sustainably finance the cost to bring in new homes and finance them to the end buyer. I am under the impression that financing for ‘floor planning’ has for the most part dried up. Are organizations still doing this- and if so, who? If they are not, is there an alternative you may recommend?
floor plan financing
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David Oxhandler
- Posts: 1459
- Joined: Tue Oct 02, 2007 8:37 am
Re: floor plan financing
21st Mortgage Corporation is the only full service wholesale lender specializing exclusively in manufactured home loans that I am aware of.
They underwrite, originate, and service their own loans and offer a variety of loan types to manufactured housing retailers and directly to consumers nationwide.
You can call them at (800) 955-0021 or see https://www.access21st.com/products.htm
The next bet recommendation is the local banks and S&Ls where management is aware of your business and sees the value you serve to the local economy and understand that your business is a good loan risk
They underwrite, originate, and service their own loans and offer a variety of loan types to manufactured housing retailers and directly to consumers nationwide.
You can call them at (800) 955-0021 or see https://www.access21st.com/products.htm
The next bet recommendation is the local banks and S&Ls where management is aware of your business and sees the value you serve to the local economy and understand that your business is a good loan risk
David Oxhandler
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