Lending options for small MHPs

[Patrick Sears]

Hello, 

I was wondering if anyone has had experience with getting a loan on a very small MHP (<20 pads) by just asking for a land loan for a 5 acre parcel (that just happens to have some "old, tenant-owned mobile homes on it") from a bank vs. an actual commercial loan for an income-producing small MHP?  Just wondering which would be a better way to approach a bank with this.  The deal I'm looking at right now is 7 tenant-owned homes on 5 acres, supposedly producing ~$2600/mo in lot rent; well & septic in a rural, but growing area.   Asking price around ~$250K; I figure the land itself is probably worth at least a third to half of that.  What angle do you think a bank would give me better terms on?  780+ credit score.