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The Madison Group arranges a $4,545,000 cash out refinance loan on a 215-pad MHP in Arizona

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, Jun 06, 2023
by Brandi Link

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a cash out refinance loan of $4,545,000 on a 215-pad community in Arizona. A previous client approached TMG looking for a cash out refinance that was maturing soon on his existing park comprised of mobile homes, RVs, and park model homes.  

TMG worked with a lender that was able to get comfortable with the cash out proceeds needed and that was able to hold the 5.65% rate until closing. The rate lock was crucial given rates increased about 40 basis points throughout the loan process. 


Property:  MHP

Location: Arizona

LTV: 54%

Loan Amount: $4,545,000

Interest Rate:  5.65%

Term: 10 Year

Amortization: 25 Year

Prepayment: 3,2,1

Guarantee:  Recourse

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