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Mobile Home Park Financing

Recent Closed Loan: $3.1M cash out refinance on MHP in Wyoming

Wednesday, Apr 01, 2020
by Brandi L

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park Financing, arranged the $3,100,000 refinance for a 44-unit MHP in Wyoming. The borrower’s goals were to obtain a cash out loan to refinance current note and to pay off debt of the purchase of the mobile homes he had placed in the park.   He will also use the additional funds to purchase an additional mobile home park in the future. The park has 44 lots of which 68% have park owned homes and are on a private septic system and well. 

TMG assisted the borrower and lender to negotiate the additional funds that will be used to pay off the debt owed on the mobile home units.  This successful closing with aide the borrower to increase his cash flow. 

Location:  Cheyenne WY
Property:  Mobile Home Park
Loan Amount: $3,100,000
Interest Rate:  5.6% Interest only for 12 months
Term:   5-Years
Amortization:   30 Years

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