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| What is Considered Recreational Vehicle Parks?
RV parks are intended for recreational vehicles. They may have mobile home pad rentals but will be considered an RV park if more than 25% of the park is for recreational vehicles. Transitory occupancy is typical.
What To Expect When Seeking RV Park Financing
RV Parks are popular property investments yet the approach taken by most lenders can make getting reasonable financing very challenging.
Traditional lenders:
- Focus on vacancy rates and operating history.
- Don't like to finance investors who live in another city or state.
- Require tedious ongoing financial reporting.
- Focus on short-term (5 to 10 year) notes with difficult balloon payments. Short terms also force frequent refinancing with the associated costs and risk of payment increases.
- Don't allow un-restricted cash-out loans.
What Makes Harborview Financial Partners' Approach So Popular?
A specialized focus on the needs of investors and small business owners along with flexible funding options makes affordable RV park property financing much easier and faster to obtain.
- Global Income Approach. Vacancies and cash flow don't tell the whole story. By including the investor's income from all sources, not just the property, Harborview Financial Partners can make financing RV parks much smoother.
- High financing levels. Programs with up to 75% financing for owner-occupied properties and for investors helps owners put their cash to more productive use.
- Investor-friendly. Harborview Financial Partners' programs do not require owner occupancy for RV parks.
- No ongoing reporting requirements. Spend your time running your business.
- Up to 30-year fixed rates and terms. With loan terms ranging from 15 to 30 years for RV park financing, Harborview Financial Partners has programs that allow you to better manage your business cash flow. Longer loan terms allow you to lower your monthly payment and control the speed at which you build equity.
- Unlimited cash-out refinancing allowed for RV parks. Use your cash to perform property improvements, invest in additional real estate, or to enhance your business where you need it most.
Your Next Steps for Financing An RV Park Property
Get pre-approved and speak to a Commercial Loan Specialist today. Pre-approval is free and has no obligations. It's the fastest and easiest way to learn the best options for you, and the first step to receiving the cash you need.
Call 1.813.600.5488
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