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The Madison Group arranges a cash out refinance loan of $5,248,000 on a MHC in Louisiana

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance
Monday, Aug 07, 2023
by Kyle Losch

The Madison Group (TMG), a leading source of arranging mobile home park financing nationwide, arranged a cash out refinance loan on a recently stabilized 150 pad mobile home community in Louisiana. The park consisted of 122 brand new park owned homes and was recently rebuilt.

TMG was able to work with a lender that could refinance the park despite the park owned home concentration. The lender was able to provide the borrower 5-years of interest only, followed by a 30-year amortization. The repeat client’s were very happy with their terms and cash out.

 

Property:  Mobile Home Park

Location: Louisiana   

LTV: 65%

Loan Amount: $5,248,000

Interest Rate:  6.27%

Term: 10 years

Amortization: 5yrs Interest Only, followed by a 30-year amortization

Prepayment: Yield Maintenance

Guarantee:  Nonrecourse



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