RBC Capital Markets' Real Estate Mortgage Capital business says it has enhanced its RBC Streamline program with the addition of lending programs for manufactured-housing communities.
Designed for loans between $500,000 and $5 million, RBC Streamline offers fast, reliable execution for manufactured-housing communities and multifamily properties across the U.S., according to the company.
‘Increased demand for alternatives to traditional single-family homes means the capital needs of manufactured housing community borrowers are growing quickly,’ notes Dan Smith, managing director of RBC Capital Markets' Real Estate Mortgage Capital group. ‘RBC Capital Markets is pleased to provide that capital. Disciplined underwriting will be the key to effectively serving manufactured-housing community borrowers and their brokers in today's market.’
The program for manufactured housing communities includes five-, seven- and 10-year fixed-rate terms with a variety of prepayment options.
Source: RBC Capital Markets
