A Midwest mobile home park owner facing a balloon payment in 21 days closed a Requity bridge loan in 18 days, covering the existing payoff plus a capital reserve. The names and figures here are anonymized, but the structure reflects an actual transaction.

The Problem

The borrower held a 62 lot manufactured housing community purchased four years earlier with a short term note. That note carried a hard maturity, and the agency lender the borrower expected to refinance with required 12 months of seasoned, stabilized occupancy. The park sat at 84% occupancy after a recent infill push, just under the threshold.

The borrower had three weeks before the existing lender could call the loan. Two options remained: sell under pressure or find interim financing fast.

What Was at Stake

  • A $1.45 million payoff coming due in 21 days
  • $95,000 in deferred lot improvements needed to reach stabilization
  • A permanent refinance that would not clear underwriting for roughly nine more months

The Financing Solution

The borrower applied through Requity mobile home park loans and was matched to a bridge product built for exactly this gap. The bridge loan is interest-only and the rate is standardized, so there was no back and forth over pricing during a tight window.

The bridge rate sits under a ceiling of 13% that we never exceed, framed within a range of 8.5% to 13%. That structure let the borrower model carrying costs on day one.

The loan funded the full payoff and set aside a portion of proceeds for the lot improvements, giving the borrower runway to push occupancy past the agency threshold.

The Timeline

  1. Day 1: Application submitted with rent roll and trailing financials.
  2. Day 4: Term sheet issued and signed.
  3. Day 9: Third party reports ordered, title opened.
  4. Day 15: Underwriting cleared, closing scheduled.
  5. Day 18: Loan funded, existing note paid off three days ahead of maturity.

The Outcome

The borrower avoided a forced sale and used the reserve to complete lot work over the following months. Occupancy reached 93%, which cleared the seasoning and stabilization criteria for the permanent refinance. The bridge loan was paid off through that takeout, and the borrower retained ownership of an asset they had spent four years building.

The lesson for owners staring at a maturity date is that interim financing exists to bridge a defined gap, not to replace a long term plan. The plan here was always the agency refinance. The bridge simply bought the time to qualify for it.

If you are facing a balloon payment or a timing gap on a manufactured housing community, review the options on our lending page and start an application.