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TMG Arranged the $1.2MM Cash Out Refinance for a MHP in Minnesota

Tags: Mobile Home Park financing, MHP cashout loans, MHC commercial loans, Mobile Home Park refinance
Friday, May 14, 2021
by Jared Shupe

The Madison Group (TMG), a leading national lending source for mobile home park financing arranged the $1,200,000 refinance and cash out loan for a 42-pad mobile home park in Minnesota. 

The park was purchased by our client in 2016 with private financing.  After completing significant renovations and upgrading the park with personal cash, the borrower wanted to re-leverage the park with some cash out to replenish personal cash reserves.  The Madison Group was able to secure the right financing tailored to the cash flow and other dynamics of the park operations. 

Location:  Minnesota

Property:  Mobile Home Park – 42 Pad,  6 acre Park

Loan Amount: $1,200,000

Interest Rate:  5.31%

Term:   5 Years

Amortization:   30 Years

Prepayment:   3,2,1,1,1

LTV:   75%

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