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The Madison Group arranges a $2,450,000 cash out refinance loan for two MHP’s in NC.

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
Friday, Aug 16, 2024
by Kyle Losch

The Madison Group (TMG), a leading national lending source of manufactured housing community financing, arranged a $2,450,000 cash out refinance loan to purchase loan another mobile home park in North Carolina.    

The borrower’s goals were to use his existing equity in a mobile home park that he owned, and purchase another mobile home park without bringing cash to closing. The Madison Group was able to work with a lender that could use the borrower’s existing equity for the purchase and in addition provide him some cash out for improvements. The borrower, lender, and TMG was able to work closely together to make this transaction a smooth process.

Property:  Two mobile home parks

Location: North Carolina  

Rate:  8.43%

LTV: 75%

Loan Amount: 2,450,000

Term: 5 years

Prepayment Penalty: None

Amortization: 30 years



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