Summary: The Madison
Group (TMG), a leading national lending source of Mobile Home Park financing,
arranged the $1,652,000 cash out refinance for an MHP in Idaho. The borrower’s goals were to get a cash out refinance to recapitalize
his investment after 12 years of ownership. The park has 57 pads
and 18 park owned homes.
TMG worked diligently to get the loan closed by stayed on top
of insurance and legal items. In addition, the borrower is out of town in the
middle of closing his loan, so special arrangements were made for a smooth closing.
Property: Mobile Home
Loan Amount: $1,652,000
Interest Rate: 4.50%
Term: 10 Years
Amortization: 30 Years