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TMG arranged the $1,650,000 cash out nonrecourse refinance for a MHP

Tags: mobile home park financing, MHP loans, nonrecourse loans, cashout loans
Friday, Sep 20, 2019
by Jeff Meierhofer

The Madison Group (TMG), a leading national lending source of Mobile Home Park financing arranged the $1,650,000 cash out nonrecourse refinance for a park located in Indiana. The borrower’s goals were to get cash out to buy out a partner and make improvements to the park.  

The team at TMG worked extensively with the borrower and legal teams to mitigate title issues.  In the end the borrower received a great long term loan and low fixed rate.

Summary: 

Location:  Indiana
Property:  90 pad Mobile Home Park     
Loan Amount: $1,650,000
Interest Rate:  4.67%; 
Term:  10 Years
Amortization:   30 Years
Prepayment:   Defeasance