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The Madison Group arranges a $500,000 cash out refinance loan on a mobile home park in Virginia

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
Tuesday, Feb 07, 2023
by Kyle Losch

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a $500,000 mobile home park loan to refinance and cash out on an existing park in Virginia. The 24-pad park is located on 1.4 acres and was 100% occupied. The client came to TMG looking to refinance the seller carry note and obtain some cash out to reimburse him for his improvements that were paid out of pocket.

Location: Virginia

Loan amount: $500,000

LTV/LTC: 37% LTV

Term: 5 years

Rate: 8.55%

Amortization: 30 years

Prepayment: 3,2,2,1,1



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