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