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Mobile Home Note Buyers: Cash For Mobile Home Notes
We Buy Mobile Home Notes WITH Land
Due to abnormally high industry-wide loan default rates on mobile homes, we will no longer consider ANY mobile home notes for purchase where less than 20% cash down payment was received at the time of sale
We can buy mobile home notes and manufactured home notes WITH land. We'll pay you cash today for your mobile home notes. We also buy mobile home note portfolios - performing or sub-performing. We buy mobile home notes and manufactured home notes. We pay top dollar for notes, nationwide! We buy all property types. No closing costs or fees! We are ready to CASH YOU OUT FAST!
Note: Mobile home and manufactured home pools (portfolios) must be submitted on an up-to-date spreadsheet with seller asking price included.
Mobile Home/Manufactured Home Portfolios WITHOUT land must have a minimum unpaid principle balance due of $1,000,000 before we will consider it for purchase.
Click here to get our Mobile Home Note Portfolio Spreadsheet.
Has the disappearance of traditional lenders for manufactured housing hurt your sales? Are you looking for lenders to finance your sub prime (poor credit) buyers? Before you go too far into this page it is imperative that you understand: We do not lend money and we do not finance mobile home buyers. That's not what we do.
We buy portfolios of existing dealer paper or private seller financed notes created from the sale of a mobile home with or without land. Should you find the need to carry in-house financing to facilitate the sale, we can provide capital from the note through a full or partial purchase. The discounts on mobile home paper are significant. We've paid as high as .75/$ and as low as .30/$...every pool is different. HOWEVER, you should be aware that due to tremendous over-supply of mobile home paper on the market, mobile home pools are typically trading in the .65/$ range.
If you're looking for an investor to pay PAR or NEAR FACE VALUE (little or zero discount) read no further because we will not be able to help you.
We are limited in what we can invest by several factors. Investment to Value (ITV) guidelines determine the maximum that we can invest into one note. Payor credit, equity and age of the homes also effect pricing. The larger and newer the home, larger the equity position and better the Payor credit, the better the pricing for the note in question.
Portfolios must be submitted via e-mail, to Portfolios@NoteBuyingBusiness.com, in EXCEL format. Spreadsheets MUST include the following information:
- Contract Date
- Last Name of Borrower
- Original Principle Balance
- Current Principle Balance
- P & I Payment
- Original Term
- Remaining Term
- Note Rate
- First Payment Due Date
- Last Paid Date
- Next Due Date
- # of times 30, 60 and 90 days late
- Sales Price
- Cash Down Payment
- Net Trade Down Payment (if applicable)
- Land Value (if applicable)
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- Loan Type (Home only, Land/Home, Land-in-Lieu)
- Interest accrual method (Simple, Variable, Rule of 78)
- Credit bureau score at origination of loan
- Current credit bureau score (if applicable)
- New or Used
- Year of Home
- Size of home
- Multi-Section or Single-Section
- Manufacture Name
- State home located in
- Occupancy: Owner or Non-Owner
- Extension Information (if applicable)
- Buy Down Points Financed
- Origination Fees Financed
- Total pre paid finance charge
- Loan Status (Active, Bankrupt, Repo, etc.)
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Seller asking price MUST be included or we will not evaluate the portfolio |
If you are considering the possibility of selling a mobile home note with land, or any other real estate secured note or contract and would like a lump sum of cash now, we can help! TriMark Capital Funding, Inc. is a national mobile home note buyer and we will pay you TOP DOLLAR for all or just a portion of your remaining payments.
We have the flexible purchase options you need. As a direct mobile home note buyer, TriMark Capital Funding, Inc. will quickly provide you with the highest possible quote for your note or contract so you can sell your note fast.
A word about discounts on mobile home notes
The FACE VALUE of a note and the monthly payments respectively represent the future value of the note, and a promise to pay, with no guarantee that the promise will be fulfilled.
A note’s PRESENT VALUE is less than its face value, because dollars in your pocket today are worth more than dollars in the future simply due to inflation, the declining value of the dollar, and more dollars flooding the banking system.
If you are unwilling to sell your note or note pool for 15-25% off of its face value (possibly more depending on the individual merit of the note), then you have just disqualified yourself as a potential note seller, and you do not need to spend another second contemplating your sale – keep your note.
If these discount levels are acceptable, and you need a cash lump sum as quickly as possible without taking out a home equity line of credit, or incurring more debt in the form of credit and loans, we are ready to buy your mobile home note today.
SEASONED/EXISTING NOTES
MOBILE HOMES ATTACHED TO LAND
If you are currently carrying owner financed paper on either a Single-Wide or Double-Wide mobile home that is attached to land, or even if you sold the property via land contract or contract for deed, we can help you quickly liquidate that note or contract for cash now.
If you are simply curious about a purchase offer, please be respectful and don't waste our time, or your time. We are in the business of buying mobile home notes, not appraising notes to satisfy people's curiosity.
However, If you need cash for an investment, a medical reason, a family reason, or for any CURRENT personal or business purpose, and you want to increase your cash position and make the power of your assets work for you WITHOUT TAKING ON MORE DEBT, then we would be happy to produce a quote or purchase offer for your note, but only if you are serious about selling it for a lump sum of cash now.
Please complete the online form and hit submit, and we get right to work on your file!
MOBILE HOMES WITHOUT LAND
If you are currently carrying a pool of owner financed notes and want to sell them for a cash lump sum to either buy more homes for your park, invest in another business, pay for unforeseen medical, college or personal bills, or for any other life purpose or reason, we can help you liquidate that pool as quickly as possible.
While our buyers and investors typically like 1990s homes and newer, if your files contain very strong payor credit, strong and verifiable down payments (min. of 10%, 20% preferred) and color pictures will show pride of ownership inside and out, then we can consider older homes as well.
PERFORMING POOLS
- Minimum total note face value of $75,000 and up to no limit
- Single-wides (SW) or Double-wides (DW)
- Can be in multiple locations (park, rented land lots, etc.)
- Owner financed paper only, unless over $750,000 in total note face value, then we can do bank financed paper as well
SUBPERFORMING POOLS
- Minimum total note face value of $750,000 and up to no limit
- Single-wides or Double-wides
- Can be in multiple locations (park, rented land lots, etc.)
- Can be owner financed paper or bank financed paper
SELLERS * REALTORS * DEALERS * MOBILE HOME OR RV PARK OWNERS * REPO & LAND/HOME INVESTORS
USE OWNER-FINANCING TO QUICKLY SELL LAND, HOMES, MOBILE HOMES AND SMALL MOBILE HOME PARKS THAT BANKS DON’T WANT TO FINANCE
Having trouble selling your mobile home park, RV park, or mobile home attached to land? Are you motivated and need to sell to profit from your investment, earn a commission, or get to a cash position at the closing table?
BE THE BANK. Then let us CASH YOU OUT!
You may believe that owner financing = carrying paper for the length of the entire term, but that is just not the case. You should definitely consider the following proven programs designed to help you use owner financing in a TEMPORARY way to ensure a cash position at close by helping to sell your properly structured owner financed first lien AT THE CLOSING, CASHING YOU OR YOUR CUSTOMER OUT.
We have sample proposals and informational docs for your review, so you can see how this works, but we request that you only ask for this information if you have a SINCERE need to sell. No tire kickers, please!
UNSEASONED/NEW NOTES
MOBILE HOMES ATTACHED TO LAND ONLY, 1977 and NEWER, SW OR DW
Now there is a great way for you to sell your used land/home that allows you to bypass the lack of lender interest in your home so you get CASH at close, a monthly cash flow secured by a small second lien, and get a motivated buyer into your property.
Using a proven cookie-cutter program, we can help you and /or your customers sell used land/home packages more quickly with this same concept of temporary owner financing, and with a group of buyers that have closed hundreds and thousands of these identical types of deals for years now.
Please note – program requirements:
- Requires 25-35% equity in property based on current FMV, including the land and improvements.
- No more than 5 acres per lot.
- A, B, and C credits can qualify
SMALLER MOBILE HOME PARKS OR RV PARKS
Are banks un-interested in financing the sale of your smaller mobile home park or RV park with a valuation under $500,000 that you need and want to sell, and you have good equity, but would rather get more cash up front than just the down payment and carrying back the entire balance?
Look no further! Now there is a great way for you to sell your smaller mobile home park or RV park that allows you to bypass the lack of lender interest in your commercial property so you get CASH at close, a monthly cash flow secured by a smaller second lien, and get a motivated buyer into your property, with more cash at close than just the down payment!
Program requirements:
- 40% or more equity needed in property based on current FMV, including the land and improvements, to get to cash position
- Min. buyer 600 FICO score, slightly lower acceptable if there are other deal strengths to offset lower credit profile
- Smaller second lien of 20-35% needed, which will provide cash flow, shorter amortization if desired, and possible capital gains tax mitigation (please consult tax advisor)
- Preferred down payment of 20%, though down to 10% will be considered if strong buyer, and provable operating experience
If you're ready to sell your mobile home note, you may send us the details by completing our worksheet.
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