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.
Loan Amount: $4,545,000
Interest Rate: 5.65%
Term: 10 Year
Amortization: 25 Year