The Madison Group (TMG), a leading national lending source of Mobile
Home and RV Park financing, arranged a $4,650,000 cash out refinance loan for a
105-pad mixed use MHP/RV park located in Texas. The repeat client came to TMG
looking to payoff the current mortgage, get some cash out, and lock in a low
interest rate for the next five years.
The borrowers and TMG worked in conjunction to present a package
that met the lenders parameters. It was truly a team effort and required a lot
of attention to detail by all parties. In the end the borrowers are very
pleased with their interest rate and terms.
Location: Texas
Property: 56 RV pads; 30
cabins; 6 mobile homes; 12 apartment units and 1 storage building
Loan Amount: $4,650,000
Interest Rate: 4.65%
Term: 5 years
Amortization: 30 Years
Prepayment: None
Recourse: Full recourse