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The Madison Group arranges a $1,000,000 loan to purchase an MHP in Georgia

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
Thursday, Jul 06, 2023
by Kyle Losch

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a loan to purchase an existing MHP in Georgia with 23 pads with 18 park owned homes. The borrower was referred to us from a trusted referral source and needed a lender that could finance the real estate, park owned homes and future capital improvements.

TMG was able to work with a lender that could not only finance the real estate but also the park-owned homes and future capital improvements. The client was able to purchase the property and is already underway with the scheduled improvements.

Property:  MHP

Location: Georgia  

LTV: 75%

Loan Amount: $1,000,000

Interest Rate:  5yr fixed rate 7.51%

Term: 5 years  

Amortization: 30 years

Prepayment: 3,2,1,1

Guarantee:  Recourse



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