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Closed Loan: RV Park $2.5MM Refinance in Washington

Tags: RV Park Financing, RV park Refinance
Tuesday, Oct 13, 2020
by Jeff M

The Madison Group (TMG), a leading national lending source of RV Park financing arranged the $2,500,000 refinance for a 100-unit RV park with a 10 year term and 25 year amortization at 4%.

The borrower’s goals were met by obtaining a lower rate and providing a longer term on the loan. This created more cash flow and paid off a seller contract that was coming due. One obstacle that was overcome was the primary income is derived from long term rentals.  The borrower’s received some cash out to continue to enhance the park.

TMG was able to close the loan in a timely manner and assure the terms of the seller contract by working with a trusted lender from start to funding.

 Location:  Washington

Property:  RV Park

Loan Amount: $2,500,000

Interest Rate:  4%

Term:   10 Years

Amortization:    25 Years

Prepayment: 3/2/1 

LTV: 65%  

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