MHP underwriting has its own landmines — POH concentration, private septic, sub-metered utilities, and a narrow slate of capital sources that actually lend on the asset class. AssetForge Underwriter is built around those realities. Upload your rent roll, P&L, and park photos and get a report that reads like a broker package combined with a lender checklist.
The analysis flags every dealbreaker that kills MHP loans at submission: more than 20% POH, private water that isn't tested, lots under a minimum size, and expense ratios that don't pencil against comparable parks.
Parks with >20% park-owned homes hit agency problems. AssetForge flags the threshold and recalculates NOI on a lot-rent-only basis so you see the real collateral.
Septic, well, propane, private roads — every one is a lender-underwriting issue. The report surfaces each and quotes the remediation cost band.
Runs the deal against Fannie MHC, Freddie MHC, and CMBS guidelines — tells you which capital sources will actually look at it.
If rents are under market, the pro forma models the mark-to-market lift with realistic turnover timing, not fantasy overnight increases.
There's no minimum — we've analyzed parks from 12 lots to 400+. Smaller parks usually fall outside agency eligibility, so the report focuses on SBA, local bank, and seller-carry structures.
Yes. Mixed RV/MHC parks are analyzed by segment — each revenue stream is underwritten separately because agencies treat them differently.
SBA 504 and 7(a) eligibility is analyzed based on owner-occupancy, use of proceeds, and borrower qualification. The report explicitly flags whether SBA is a fit — it doesn't guess.
Start with a free Go/No-Go screen. Upgrade only if the deal looks real.
AI-generated informational analysis only — not financial, legal, lending, or appraisal advice. Not a substitute for a licensed MAI-certified appraisal or professional due diligence. All figures, projections, and market estimates must be independently verified by qualified professionals before any capital decision is made.