Definition: A general property type or building type classification characterized by its usage as a mobile home park. Typical subtypes include MHP 1 Star, MHP 2 Star, MHP 3 Star, MHP 4 Star, MHP 5 Star, Other.
Section 207 insures loans to provide financing for mobile home parks. Section 207 increases the affordablity and availability of the finance of mobile home parks. This program provides FHA loan insurance for HUD-approved lenders.
Fannie Mae provides loans for residential real estate developments where the borrower owns the mobile housing sites and associated common amenities and infrastructure.