The Madison Group (TMG), a leading source of arranging mobile home
park financing nationwide, arranged a cash out refinance loan on a recently
stabilized 150 pad mobile home community in Louisiana. The park consisted of
122 brand new park owned homes and was recently rebuilt.
TMG was able to work with a lender that could refinance the park
despite the park owned home concentration. The lender was able to provide the
borrower 5-years of interest only, followed by a 30-year amortization. The
repeat client’s were very happy with their terms and cash out.
Property: Mobile Home
Park
Location: Louisiana
LTV: 65%
Loan Amount: $5,248,000
Interest Rate: 6.27%
Term: 10 years
Amortization: 5yrs Interest Only, followed by a 30-year
amortization
Prepayment: Yield Maintenance
Guarantee: Nonrecourse