The Madison Group (TMG), a leading national lending source of manufactured
housing community financing, arranged a $2,550,000 cash out refinance loan on
two mobile home parks in Georgia.
The borrower’s goals were to obtain permanent financing to
refinance their existing loan and take cash out to make planned improvements to
the parks and to acquire additional mobile home parks. TMG was able to work with one of its leading
lenders to accomplish this goal. The
borrower, lender, and TMG were able to work closely together to make this
transaction a smooth process.
Property: Two mobile home parks
Location: Georgia
Rate: 7.00% with rate re-set after 5 years
LTV: 40%
Loan Amount: 2,550,000
Term: 10 years (5+5)
Prepayment Penalty: None
Amortization: 30 years