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The Madison Group arranged a $1,995,000 cash out refinance for a 110 pad mobile home community in Georgia.

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Non Recourse Financing, Non Recourse Loans, nonrecourse loans, nonrecourse financing, refinance loan, cash out refi, cash out refinance
Friday, Jun 03, 2022
by Jared Shupe

The Madison Group (TMG), a leading national lending source for mobile home park financing, arranged the $1,995,000 cash out refinance for a 110 pad mobile home community situated on nearly 39 acres in Georgia.   

When the borrower contacted TMG, they were contemplating either a refinance or selling the park based on recent offers they had.  The borrower preferred to keep the park as it had been an excellent investment, however, his current financing was unfavorable and he had been unable to find financing elsewhere for a relatively rural but well occupied performing park. 

TMG was able to source cash out financing at market rates and reduce the borrower’s monthly P&I cash outlay by nearly 30% despite the rise in interest rates during the loan process. Loan approval and closing was smooth despite logistical challenges due to property, borrower and lender locations. It was huge win for our client.

Location:  Georgia

Property:  110 pad Mobile Home Community

Loan Amount: $1,995,000

Interest Rate:  5.190%

Term:   10 Years

Amortization:   30 Years

Prepayment:   3%, 2%, 1%

LTV:   66.5%

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