Will a bank finance a mobile home park?

Yes, and the agencies will too. Freddie Mac buys park loans of $1 million or more through its Optigo lenders. On longer terms, those loans can reach 80% of a park's value. In 2025, Fannie Mae let its lenders approve smaller parks, down to 40 pads. Banks, CMBS lenders and debt funds also lend on parks. Freddie Mac wants a sponsor with park experience, and both agencies require resident lease protections.

Which SEC rules apply to a mobile home park syndication?

Most park syndications are private offerings under Regulation D. Rule 506(b) puts no limit on the amount raised but bans public advertising. Rule 506(c) permits advertising, provided all purchasers are accredited and the sponsor takes reasonable steps to check. Either way, a Form D goes to the SEC within 15 days of the first sale. States can also ask for notice filings and fees. Your securities lawyer decides which exemption fits.

What do LPs look at in a mobile home park deal?

They start with the rent roll: lot rents against nearby parks, empty lots and how many homes the park owns. They check roads, water and sewer lines, and who pays for utilities. They test the rent plan against state rules and the lender's resident protections. And they ask which parks you have run, what you charge and how profits are split. Our financial models put all of it on one timeline.

What are tenant protections on agency park loans?

They are lease terms Fannie Mae and Freddie Mac require in the parks they finance. Freddie Mac's list starts with one-year renewable leases. Residents get 30 days' written notice of a rent rise. They can sell their home in place to a buyer who qualifies as a tenant. And they get 60 days' notice of a planned sale or closure. Freddie Mac gives owners 12 months after the loan closes to add them.

How much does help with a mobile home park raise cost?

Our fees are flat and agreed before work starts. An investor deck starts from $6,000. A financial model starts from $3,000. A valuation starts from $5,000. For a park fund, a fund deck starts from $8,000. A fund model starts from $5,000. There is no success fee on advisory work. For selected clients we make warm introductions from our 200+ VC relationships. Introductions are never guaranteed, and we are not brokers. See pricing.

Home / Mobile Home Parks

Industry: Mobile home parks

Mobile home park syndication

Park sponsors pair equity from limited partners with Fannie Mae, Freddie Mac or bank loans. Park values slipped in 2025, so LPs and lenders now read the numbers more closely.

Agency lending, home supply and rent-rule data for land-lease parks
Decks and models built on lot rents, park-owned homes and debt terms
Waveup prepares investor materials for mobile home park sponsors, funds and operators: $3B+ raised for 600+ startups since 2014

Talk to us about your raise See real estate cases

In short

What is mobile home park syndication?

Mobile home park syndication is a group purchase of a manufactured housing community, led by a sponsor and funded by investors. Residents usually own their homes and rent only the lot. The sponsor raises the equity, fills empty lots and runs the park. Most deals also use agency or bank debt; Freddie Mac alone bought loans on 219 parks in 2025.

Who it's for: Park sponsors and syndicators, mobile home park funds and operators
What we build: Investor deck, financial model, valuation, investor list, data room
Prices: Deck from $6,000, model from $3,000. Flat fees
Track record: $3B+ raised for 600+ startups since 2014

Market data checked on 8 November 2026. Sources are under each section.

Why are investors buying mobile home parks?

Residents own their homes, moving one is costly, and few new parks get built. But park values slipped in 2025, so sponsors now have to prove their numbers.

The opportunity

Existing parks run at high occupancy, and new ones are hard to build.

A new manufactured home sells for a fraction of a new house's price
Fannie Mae and Freddie Mac both buy loans on parks
A 2026 federal law drops the permanent-chassis rule and renews federal grants to develop parks

The problem

Through the third quarter of 2025, sales of institutional-quality parks were on track for their lowest level since 2015. Fannie Mae also saw more forced refinancings and strained exits by undercapitalised sponsors.

Sources: Fannie Mae, Duty to Serve reports on park loans for 2025 (sales, exits) and 2024 (occupancy, new supply), published by FHFA in 2026 and 2025; Freddie Mac, Duty to Serve report for 2025 (the cost of moving a home); US Census Bureau via FRED, prices of new manufactured homes and new houses, June 2026; Congress.gov, H.R. 6644, Public Law 119-101, 11 Jul 2026 (sections 301 and 304).

Market size

How big is the US manufactured housing market?

US factories shipped 102,800 new manufactured homes in 2025, Census figures show. Here is what moves demand for park lots:

Price: a new manufactured home sold for $129,400 on average in June 2026
Gap: the median new site-built house sold for $410,200 that month
Pace: shipments ran about 3% behind 2025 in the first nine months of 2026
Law: a July 2026 act ends the permanent-chassis rule, and HUD must revise its standards

Shipments climbed from 70,600 homes in 2015 to 113,100 in 2022, dropped to 89,400 in 2023 and reached 102,800 in 2025.

Sources: US Census Bureau, Manufactured Housing Survey, via FRED: shipments (chart: yearly totals of the monthly figures; January–September 2026 against the same months of 2025 is our arithmetic) and average sales price, both updated 5 Nov 2026; US Census Bureau via FRED, median sales price of new houses sold, opened 8 Nov 2026; Congress.gov, H.R. 6644, 21st Century ROAD to Housing Act, Public Law 119-101 of 11 Jul 2026, section 301.

Mobile home parks in 2026, in six numbers

88.8%

same-property occupancy across UMH Properties' communities in Q3 2026

+10%

growth in UMH's same-property community NOI in Q3 2026, year on year

of the park market is owned by residents, nonprofits or governments, Fannie Mae estimates

205,000+

pad sites covered by Fannie Mae's tenant site lease protections since 2019

64%

Fannie Mae's estimated share of agency park financing since 2019

60 days

minimum notice of a planned park sale or closure under Freddie Mac's resident protections

Sources: UMH Properties, Q3 2026 results, 2 Nov 2026; Fannie Mae, Duty to Serve reports for 2025 on parks owned by residents, nonprofits or governments and park loans with tenant protections, published by FHFA in 2026; Freddie Mac, Optigo Manufactured Housing Community Loan term sheet, April 2026.

Debt and equity

Who lends on mobile home parks, and how much?

Fannie Mae and Freddie Mac buy park loans from approved lenders, and both require resident lease protections. Lending by banks, CMBS, debt funds and REITs hit a decade high in 2025, leaving aside the early pandemic, Fannie Mae says.

Fannie Mae's total fell from 61,833 pads in 2023 to 19,808 in 2024, then rose to 29,467. Freddie Mac's grew every year, to 37,831 in 2025.

$1.5B

lent on parks by Fannie Mae in 2025, for 206 communities

+57%

growth in Fannie Mae's park loan production in 2025

33%

of all park financing in 2022 and 2023 came from Fannie Mae, by its own estimate

Sources: Fannie Mae and Freddie Mac, Duty to Serve reports on loans for parks with tenant pad lease protections, published by FHFA. Fannie Mae: 2025, 2024 (the 33% share), 2023, 2022. Freddie Mac: 2025, 2024, 2023, 2022. Pads as each report states them. The non-agency lending trend is Fannie Mae's reading of MSCI Real Assets data.

Who invests in mobile home parks?

Agency lenders, listed and private park owners, and lenders to resident co-ops. Sponsors raise their own equity from accredited investors, family offices and co-GP partners.

Freddie Mac

Government-sponsored enterprise, US; buys loans from Optigo lenders

Loans on 219 communities with 37,831 pads in 2025

Park loans of $1M or more, up to 80% of value

Fannie Mae

Government-sponsored enterprise, US; buys loans from DUS lenders

Loans on 206 communities with 29,467 pads in 2025

Park loans; its lenders can approve parks from 40 pads

UMH Properties

Listed REIT, Freehold, New Jersey

145 communities; joint ventures with Nuveen Real Estate on two Florida parks and one in Pennsylvania

Owns, expands and fills communities

RHP Properties

Private owner and operator, US, since 1988

A senior community in Jensen Beach, Florida; a 346-site community in Delaware's capital region; a 349-site community it built in Miami

Buys single parks or portfolios

ROC USA

Resident-ownership adviser and lender (ROC USA Capital), Washington, DC

Crestview Cooperative, Buena Vista, Virginia (71 lots, 2025); a $47M national acquisition loan pool (2025)

Loans and help for residents buying their park

Sources: each organisation's own site or report, opened 8 Nov 2026: Freddie Mac's MHC loan term sheet, about page and 2025 Duty to Serve report; Fannie Mae's 2025 Duty to Serve report (both reports published by FHFA); UMH Properties and its Q2 2026 results; RHP Properties' news and acquisitions pages; ROC USA on Crestview Cooperative and its loan pool. Companies and projects named are examples, not full portfolios. Search investors by sector in our investor database.

Investor database

Proptech investors in our database

The funds with the most proptech investments. Pick a stage, or open a fund for its cheque sizes.

Top 5 by proptech investments

Investments by industry
Real Estate & Proptech35%
Software & Apps27%
Fintech & Financial services8%
Rounds
Pre-seedSeedSeries A
Average cheque
Not listed
Based in
Miami, United States
Invests in
USA
28 investments in total, 17 tagged Real Estate & Proptech.Open the full fund profile
Investments by industry
Real Estate & Proptech26%
Social media18%
Transportation & Mobility18%
Rounds
SeedSeries ASeries BSeries C+
Average cheque
Not listed
Based in
Chicago, United States
Invests in
USA
168 investments in total, 17 tagged Real Estate & Proptech.Open the full fund profile
Investments by industry
Real Estate & Proptech28%
Software & Apps25%
Fintech & Financial services11%
Rounds
Pre-seedSeedSeries ASeries B
Average cheque
Not listed
Based in
Belgium
Invests in
Europe
14 investments in total, 16 tagged Real Estate & Proptech.Open the full fund profile
Investments by industry
Real Estate & Proptech40%
Software & Apps20%
Fintech & Financial services14%
Rounds
SeedSeries A
Average cheque
Not listed
Based in
São Paulo, Sao Paulo, Brazil
18 investments in total, 14 tagged Real Estate & Proptech.Open the full fund profile
Investments by industry
Software & Apps19%
Real Estate & Proptech17%
Energy & Utilities16%
Rounds
Pre-seedSeedSeries ASeries B
Average cheque
$500K–$1M$1M–$3M$3M–$10M
Based in
Denmark
Invests in
Israel, Europe, USA
27 investments in total, 13 tagged Real Estate & Proptech.Open the full fund profile

See all proptech investors

From our investor database.

Why do lenders and LPs pass on park deals?

We interviewed 56 VCs for our Fundraising 2025 study. Their top reasons to pass were revenue growth, unit economics, burn and missed milestones, then defensibility and crowded categories. For a park, the same doubts take four forms.

Values under pressure

Parks that sold in 2025 went for higher cap rates after almost a decade of falling ones, Fannie Mae found. It reads that as lower values and softer income.

What investors ask

What is the park worth if cap rates stay this high when you sell?

What your deck shows

Value at today's cap rate and at a higher exit rate
When the loan matures, and how you refinance it

Lenders want park experience

Freddie Mac asks for a sponsor with two or more years of running parks who already owns another one. First-time sponsors often bring in a partner with that record.

What investors ask

Who on your team has run parks, and how did those parks do?

What your deck shows

Each park you have run, with occupancy before and after
Your property manager and their park record

Homes the park owns

Freddie Mac caps homes owned by the borrower's affiliates or investors at 25% of a park. It also prefers every home to meet the federal HUD Code.

What investors ask

How many homes does the park own, and what happens to them?

What your deck shows

Homes by owner, age and condition
A plan and budget to sell or replace park-owned homes

Rent rules and resident rights

New York caps most lot rent rises at 3%. Owners need higher costs to go further, and a court's approval to pass 6%.

What investors ask

Does your rent plan still work under state law and the lender's rules?

What your deck shows

Rent rises by year, checked against state limits
Leases that already meet the agency protections

Sources: Fannie Mae, Duty to Serve report for 2025, published by FHFA in 2026; Freddie Mac, Optigo Manufactured Housing Community Loan term sheet, April 2026; New York Real Property Law § 233-b, revision of 20 Dec 2019, in force; our Fundraising 2025 study.

How we help you raise

Flat fees agreed before we start. No success fee on advisory work.

The park or fund story: lot rents, homes, plan and team.

Lot rents, home sales, debt and the LP waterfall, year by year.

A park or portfolio value you can defend to lenders.

Family offices, co-GPs and LP networks that back park deals.

Rent rolls, utility bills, home titles and loan papers, in order.

For selling a park portfolio or recapitalising a platform.

Who we are

Waveup is a London-based fundraising and growth advisory, working in 60+ countries and 90+ industries. Since 2014 we have built the decks, models, CIMs and valuations behind $3B+ raised for 600+ startups. 30% of our clients are funds; fund raises from $10M to $300M+.

About us

Track record

$3B+

raised for 600+ startups

Decks

1,000+

decks since 2014

M&A

50+

M&A transactions supported, including 20+ exits

Real estate

of our projects on record are in real estate