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