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RV Park Financing

Recently Closed: Purchase loan for a RV, Cabin, and Campground Resort

Tags: RV Park Financing, MHP Financing, purchase loans for Resorts
Thursday, Apr 09, 2020
by Jared Shupe

The Madison Group (TMG), a leading national lending source of RV and Mobile Home Park financing, arranged the loan for a $3,285,000 purchase of a RV, Cabin, and Campground Resort in Oklahoma.  Being an out of state purchaser with no ties to local financing, the borrowers enlisted the help of The Madison Group to find competitive loan terms and an efficient loan process on the rural Oklahoma asset.   

With a hard deadline for closing, The Madison Group quickly secured multiple solid LOI’s with lending sources, both locally and regionally.  Once the borrower selected a lender, the loan was approved, documented, and closed efficiently and on time despite several challenges with property vesting and entity structure.  The borrower was pleased with the process, the professionalism of the lender, and the overall execution of the transaction. 

Location:    Oklahoma

Property:  RV, Cabin, and Campground Resort

Loan Amount: $2,270,000

Interest Rate:  4.25%

Term:   10 Years – 12 month I/O period included

Amortization:   20 Years

Prepayment:   3,2,1,1,1 – Waived after 36 upon arm’s length sale

LTV:   70%

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