The Situation
A real estate investor had a manufactured housing community under contract in Ohio, a 40-lot park with strong fundamentals and clear value-add potential. The deal had been moving through the pipeline with a traditional bank lender. Then, days before closing, the bank pulled out.
The borrower was facing a failed contract, potential forfeiture of earnest money, and a lost opportunity on a property they had spent months underwriting.
The Solution
The borrower reached out to Requity Lending. Because manufactured housing communities are one of our most active asset classes, our team understood the property type immediately: the revenue model, the operating dynamics, and the true risk profile of the deal.
We issued a term sheet within 24 hours and closed the $1M loan in under one week.
Deal Snapshot
| Parameter | Detail |
|---|---|
| Asset Type | Manufactured Housing Community |
| Location | Ohio |
| Units | 40 lots |
| Loan Amount | $1,000,000 |
| LTV | 70% |
| Time to Close | Less than 7 days |
| Situation | Bank fallout, days before scheduled closing |
Why It Worked
Requity Lending has direct experience operating manufactured housing communities. We are not evaluating these deals from a spreadsheet. We understand them from the inside. That operational knowledge translates into faster underwriting decisions and higher conviction when it matters most.
Our streamlined process eliminated the weeks of back-and-forth that caused the original lender to fail. No committee approvals, no bureaucratic delays. One team, one decision, one week.
The Outcome
The borrower acquired the property on schedule, preserved their earnest money, and began executing their value-add business plan immediately. The seller received their proceeds on time. And our investors earned a strong, asset-backed return on a deal we understood deeply.
Need a Rescue Close?
If your deal is at risk because a lender dropped out, we can move fast. Request a term sheet or learn about our MHP lending program.
Lessons for MHP Buyers Relying on Bridge Capital
This deal illustrates a dynamic we see regularly: a well-underwritten MHP transaction that falls apart at the last moment because a conventional lender's guidelines could not accommodate the asset class. Manufactured housing communities sit outside the comfort zone of most bank loan committees, even when the fundamentals are sound.
Bridge lenders with operational experience in the MHC space evaluate deals differently. Where a bank sees a specialty asset with limited comps, an operator-lender sees a property they have personally managed. That familiarity translates directly into faster decisions and higher confidence when it matters most.
The lesson for MHP buyers: have a bridge lender identified and a relationship established before you need one. Waiting until you are seven days from closing to find a lender is survivable, as this borrower demonstrated, but building the relationship early gives you options at every stage of the process.
Frequently Asked Questions
Can a bridge loan really close in under one week?
Yes, in the right circumstances. When the borrower has a clean deal package ready, the lender has direct experience with the asset type, and there are no title or environmental complications, a private bridge lender can move from term sheet to funded in five to seven business days. This is not the average case, but it is achievable with the right lender and the right deal.
What do bridge lenders look for when financing a manufactured housing community?
The key factors are lot count and occupancy, utility infrastructure (city water and sewer versus well and septic), the submarket's employment base, current versus market lot rents, and the borrower's experience with similar assets. Lender familiarity with the MHC asset class matters more for this property type than for conventional commercial real estate.
What should I do if a bank lender pulls out of my deal before closing?
A bank withdrawal before closing is disruptive but not necessarily fatal. Your first call should be to a private bridge lender with experience in your asset class. Have your deal package ready and be transparent about why the bank pulled out. Experienced bridge lenders have seen every scenario and can often move in days if the deal fundamentals are sound.