Porterville Mixed-Use & Mobile Home Park Loan Closed
By Hanover MC On August 4 2026
Hanover Mortgage Company closed a $250,000 business purpose 1st purchase loan on a mixed-use, 3-parcel property with a mobile home park in Porterville, CA.
Transactions
Closed: $250,000 Business Purpose 1st Purchase Loan in Porterville, CA
Tulare County, CAMixed-Use + Mobile Home ParkCalifornia Hard Money
Deal Snapshot
Have a similar deal in California? Hanover Mortgage Company arranges business purpose financing on mixed-use, multi-parcel, and mobile home park properties throughout California.
The Deal
Hanover Mortgage Company arranged a business purpose 1st purchase loan for a client acquiring a mixed-use residential income property spanning three parcels in Porterville, CA, in Tulare County. One parcel carries a mix of rental buildings — a single-family home, nine cabins, and a 4-unit structure. The other two host an older, small mobile home park with six spaces, four of which are park-owned. Built between roughly 1954 and the 1960s, the property sits on a combined ~185,458 sq. ft., is served by public water, sewer, electric, and gas, and is zoned C2 (General Commercial).
As a California hard money and private money lending source for business purpose financing, Hanover Mortgage Company underwrote the loan and ordered custom California loan documents to fit the property's multi-parcel, mixed-use structure. The $250,000 loan closed against a $650,000 purchase price — a comfortable equity cushion — and was funded by a whole trust deed investor on a 25-year amortization with a 5-year balloon. As with all Hanover Mortgage Company–arranged financing, the deal was evaluated on the asset and available equity rather than income or DTI, and closed through Hanover Mortgage Company's lite documentation program.
Frequently Asked Questions
Is this a business purpose loan or a consumer loan?
This is a business purpose 1st purchase loan. It was underwritten as an investment/income-producing property acquisition, not as a consumer or owner-occupied residential mortgage.
Does Hanover Mortgage Company fund loans directly?
No. Hanover Mortgage Company arranges private financing — capital comes from private trust deed investors, with financing arranged under Hanover Mortgage Company's California DRE broker license. Hanover Mortgage Company also underwrites each loan and orders custom loan documents for California closings.
Can a property with multiple parcels, rental units, and a mobile home park qualify for business purpose financing?
Yes. Business purpose loans are evaluated on the asset and available equity rather than income or DTI, so mixed-use, multi-parcel properties — including combinations of rental units and mobile home park spaces — can be considered case by case throughout California.
What loan-to-value can I expect on a property like this?
LTV on commercial, land, and mixed-use properties is evaluated case by case rather than quoted as a fixed number. This deal's $250,000 loan against a $650,000 purchase price reflects the equity position at closing.
What documentation is required?
This loan closed through Hanover Mortgage Company's lite documentation program, consistent with its asset-based underwriting approach for California business purpose loans.
Does Hanover Mortgage Company arrange business purpose loans outside Porterville?
Yes. Hanover Mortgage Company arranges private, business-purpose mortgage financing for property owners and investors throughout California, including mixed-use, multi-parcel, and mobile home park properties like this one in Tulare County.
Ready to structure your next California deal?
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Hanover Mortgage Company arranges private, business-purpose mortgage financing for property owners and investors throughout California, evaluated on the asset and available equity rather than income or DTI. Hanover MC does not fund loans directly — capital comes from private trust deed investors, with financing arranged under Hanover's California DRE broker license.