The Madison Group (TMG), a leading national lending source of RV
Park financing, arranged a $2,600,000 loan to refinance a 142 space RV park in
California. The client purchased the park in 2021 and improved the park over
the last three years. The client came to TMG looking to refinance the current
loan with 30-year amortization conventional loan.
TMG was able to work with a trusted lender that could do a
rate/term refinance with a 30-year amortization. The lender was able to lock
the interest rate at the time of application to mitigant the client’s interest
rate risk. TMG, the lender, and the client worked together to ensure a smooth
closing process. The client was very happy with the loan structure that was
provided.
Property: RV Park
Location: California
Loan Amount: $2,600,000
LTC/LTV: 70%
Interest Rate: 5yr
Fixed Rate - 7.52%
Term: 10 years
Amortization: 30 years
Prepayment: 3,2,1
Guarantee: Recourse