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Onyx Capital is the exclusive national advisor to SunAmerica Life Insurance Company for all manufactured housing community loans.
Onyx Capital's manufactured housing community loan portfolio includes senior and "all age" manufactured housing communities that range from less than 100 to more than 900 homesites each. Although there are many 4 and 5 star manufactured housing communities in the portfolio, the typical loan in the Onyx Capital portfolio is secured by a 3+ star, "all-age" manufactured housing community with approximately 200 homesites.
SunAmerica is a portfolio lender that does not sell their loans, which means that Onyx Capital is available to provide servicing assistance to borrowers during the term of the loan.
In addition to originating more than $1.3 billion dollars in manufactured housing loans since 1983, the principals at Onyx Capital are experienced owners of more than six manufactured housing communities. We understand the manufactured housing community business from both a landlord and lender viewpoint.
Unlike Wall Street conduits and most other lenders, the Onyx Capital loan program locks interest rates and loan amounts at application with highly competitive fixed rates and terms for manufactured housing communities. We pride ourselves on excellent service with funding of non-recourse loans for manufactured housing communities in 45 days or less.
A summary of the SunAmerica / Onyx Capital manufactured housing community loan program is as follows:
| Loan Type: | Fixed rate |
| $ 2,000,000 to $ 100,000,000 | |
| Loan Term: | 5, 7 and 10 years |
| Loan to Value: | 75% maximum |
| DCR: | 1.20 or greater |
| Amortization: | 25 to 30 years |
| Closing: | Typically 45 days or less from application. |
| Security: | Non-Recourse except for fraud, environmental, etc. |
| Property Type: | 3-5 Star manufactured housing communities throughout the United States |
| Comments: | SunAmerica allows cash out up to 75% loan to value. Interest rates and loan amounts are locked at application. SunAmerica is known for providing the highest quality service with fast commitments and closings. |
Onyx Capital is one of the most experienced manufactured housing community lenders in the country with an extensive list of satisfied customers. Recent SunAmerica / Onyx Capital manufactured housing community loan closings include the following:
| # Homesites | Star Rating | State | Comments | Loan Amount |
| 1,609 | 3.5 Star | Various | Purchase | $20,300,000 |
| 209 | 5 Star | California | Refinance | $5,700,000 |
| 1,424 | 3.5 Star | Various | Purchase | $11,000,000 |
| 972 | 4 Star | Arizona | Refinance | $8,200,000 |
| 615 | 4 Star | Florida | Refinance | $5,600,000 |
| 3,040 | 3 Star | Various | Refinance | $40,685,000 |
| 3,001 | 3 Star | Various | Purchase | $41,520,000 |
| 579 | 3 Star | Various | Purchase | $18,500,000 |
| 499 | 3.5 Star | Florida | Refinance | $11,600,000 |
| 1,178 | 3 Star | Various | Purchase | $7,900,000 |
| 246 | 3 Star | Indiana | Purchase | $3,200,000 |
| 1,153 | 3.5 Star | Florida | Purchase | $32,000,000 |
| 245 | 3.5 Star | Florida | Purchase | $5,000,000 |
| 183 | 3.5 Star | Pennsylvania | Purchase | $3,700,000 |
| 396 | 3.5 Star | Texas | Purchase | $6,300,000 |
| 350 | 3.5 Star | Virginia | Purchase | $8,500,000 |
| 330 | 4.5 Star | Arizona | Refinance | $5,000,000 |
| 1,470 | 3 Star | Various | Refinance | $15,670,000 |
| 303 | 4 Star | Arizona | Refinance | $4,500,000 |
| 385 | 4 Star | California | Refinance | $6,000,000 |
| 18,187 | $260,875,000 |
To begin the loan process and receive a firm loan quote, go to our Loan Submission Form.
If you prefer, contact Onyx Capital directly at info@onyxcap.com
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