The Madison Group (TMG), a leading national lending source
of Mobile Home Park financing arranged the $2,385,000 cash out refinance of a
mobile home park in California. The park
has 50 mobile home park pads along with one commercial property.
The borrowers were seeking a cash out refinance to purchase
another property and increase their cash flow, while taking advantage of low
TMG was able to get them significant cash out of the
property to purchase another asset and close on a low interest rate of 3.3%,
along with a 30 year amortization and a 15 year term.
Property: 50 Mobile
Home Park pads, with one commercial property
Loan Amount: $2,385,000
Interest Rate: 3.3 % fixed for 5 years; readjusts each 5
Term: 15 Years
Amortization: 30 Years