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TMG arranged a nonrecourse cash out refinance for two MHP in South Carolina

Tags: Nonrecourse MHP loans, Cashout Refinance, Mobile Home Park Financing, MHC loans
Tuesday, Sep 28, 2021
by Brandi Link

Summary:  The Madison Group (TMG), a leading national source for Mobile Home Park financing, arranged the refinance loans for $1,319,000 and $1,422,00 loan for two MHPs in South Carolina.  The borrowers’ goal was to secure a nonrecourse loan that would lower their current interest rate and take cash out.

TMG worked together with the client to present a loan package to a trusted lender that yielded the terms that met the borrowers’ goals. It was truly a team effort and required attention to detail by all involved. In the end the borrowers are very pleased with their interest rate and terms.

Location:  South Carolina

Property:   60-unit MHP

Loan Amount: $1,319,000

Interest Rate:  3.95%

Term:  10 Years – 5 years interest only

Amortization:  30 Years

Prepayment:  Yield Maintenance

Location:  South Carolina

Property:  66-unit MHP

Loan Amount: $1,422,000

Interest Rate:  3.95%

Term:  10 Years – 5 years IO

Amortization:   30 Years

Prepayment:  Yield Maintenance


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