Back to the full list of closings

image of news item

The Madison Group arranges a $1,250,000 cash out refinance loan on a mobile home community in Arizona.

Tags: Mobile Home Parks, Mobile Home Park Financing, Mobile Home Park Lending, Mobile Home Park Loan, Mobile Home Community Loan, Mobile Home Community Financing, Mobile Home Park Refinance, Mobile Home Community Refinance, Financing for Mobile Home Park, Loan for Mobile Home Park, MHP Financing, MHC Financing, RV Park Financing, RV Park Lender, RV Park Loan, RV Park Mortgage, Manufactured Housing Community Financing, cash out refinance, cash out refinance loan
Tuesday, Jun 18, 2024
by Kyle Losch

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a cash out refinance loan for $1,250,000 on a Mobile Home Park in AZ. The park consisted of 25 pads and 7 park owned homes. The client reached out to TMG and was looking for a cash out refinance with a lender that would not take the park owned homes as collateral.

TMG was able to work with a lender that would allow park owned homes, but not take the homes as collateral. The lender was flexible with the cash out proceeds, which were disbursed at closing with no restrictions. The client was very happy and is looking for their next purchase.

 

Property:  MHP

Location: Arizona  

LTV: 69%

Loan Amount: $1,250,000

Interest Rate:  8.78%

Term: 5 years

Amortization: 30 years

Prepayment: 3,2,2,1,1

Guarantee:  Recourse



Full List of Recent Closings