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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’ goals new nonrecourse loan that would lower their current interest rate get 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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