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TMG arranged the $2,150,000 refinance for a Mobile Home Park in Washington

Tags: MHP financing, nonrecourse loans for MHP, MHC loans
Tuesday, Oct 27, 2020
by Brandi Link

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park financing arranged the $2,150,000 refinance for a Mobile Home Park in Washington.

The borrower’s goals were to lower their current interest rate, get some cash out, and lock in a long-term loan in the current low rate environment.

TMG negotiated the best loan terms with a quality lender and assisted the borrower during the loan process.  The team worked with the lender, underwriting and legal teams to get the loan closed in a timely manner.

Location:  Washington

Property:  Mobile Home Park

Loan Amount: $2,150,000

Interest Rate:  3.12%

Term:  10 Years

Amortization:  30 Years

Prepayment:   Yield Maintenance

LTV:   33%

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