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The Madison Group arranged a $502,500 loan to refinance and cash out on an existing MHP in Texas

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, refinance loan, cash out refi, cash out refinance, no prepayment penalty, no prepayment penalty loan
Thursday, Oct 06, 2022
by Paul Kuster

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a $502,500 loan to refinance and cash out on an existing mobile home park in Texas. The 25-pad park is located on 18 acres and was 100% occupied. There were 5 park owned homes and 20 tenant owned homes.

The Madison Group was able to arrange a $502,500 loan with a 5.90% five-year fixed rate and a 25-year amortization. The Madison Group was also able to obtain a loan with no prepayment penalty so the sponsors could refinance without penalty at any time. The loan structure was perfect for the client, allowing them to cash out of their existing mobile home park and purchase another park to add to their portfolio.

Location: Texas

Loan Amount: $502,500

Interest Rate: 5-year fixed rate: 5.90%

Term: 5-years

Amortization: 25 years

LTV: 80%

Recourse

Prepayment: No Prepayment Penalty



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