Manufactured Home Construction FInancing - WA State

[John Cameron]

I have a small builder who is very experienced with Manu Home and Land Development.  Up until now he has been using and equity share partner who is taking 60% of net.  I told him that is probably WAY too much.

He is looking to borrow construction $200K for his project. He owns the land. The best we've been quoted is 80%LTV including land value, 4points and 12%/yr.

Can anyone do better?