Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, Ferd sits down with longtime banking expert Keith Asel of Hawthorn Bank to unpack what park owners really need to know about lending, loan structures, underwriting, term sheets, and navigating bank relationships. With over 45 years in the banking world—from teller to federal bank examiner to commercial lending leader—Keith brings rare insight into both sides of the table.
Ferd and Keith discuss how banks actually evaluate mobile home park loans, what bankers look for in cash flow, collateral, and guarantor strength, and why debt structure can make or break your business plan. Keith breaks down the real differences between big-bank rigidity and community-bank flexibility, how interest rates and indexes are chosen, when to use construction loans, why interest-only periods matter, and how to avoid surprises when renewing lines of credit.
Whether you’re buying your first park, restructuring debt, planning infill, or trying to understand how lenders think, Keith delivers practical, experience-backed guidance to help operators secure better financing, build stronger relationships with their bank, and avoid hidden pitfalls that stall deals. Tune in now to learn how to approach lenders strategically and set your projects up for long-term success.
Highlights of the episode:
00:36 – Keith’s banking journey
01:10 – Teller to examiner
03:33 – Restructuring debt properly
05:49 – Separate land vs. homes
06:19 – Big vs. small banks
07:06 – Educating your banker
08:52 – Rate spread basics
10:09 – Why indexes change
12:26 – Collect term sheets
14:19 – When banks say no
16:45 – Infill line changes
17:59 – Annual renewal purpose
18:55 – Evaluating slow projects
19:48 – Loan call triggers
Connecting with MHP Law:
Website: https://themobilehomelawyer.com/
Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069
LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/
Instagram: https://www.instagram.com/themhplawyer
Connecting with Guest:
Website: https://www.hawthornbank.com/
