The Madison Group (TMG), a leading source of mobile
home park financing nationwide, arranged a $500,000 mobile home park loan to
refinance and cash out on an existing park in Virginia. The 24-pad park is
located on 1.4 acres and was 100% occupied. The client came to TMG looking to refinance
the seller carry note and obtain some cash out to reimburse him for his
improvements that were paid out of pocket.
Location: Virginia
Loan amount: $500,000
LTV/LTC: 37% LTV
Term: 5 years
Rate: 8.55%
Amortization: 30 years
Prepayment: 3,2,2,1,1