Back to the full list of closings

news photo

The Madison Group arranges a $1,578,000 loan to purchase a mobile home community 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
Wednesday, Apr 17, 2024
by Brandi Link

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a loan for $1,578,000 to purchase a Mobile Home Park in NC. The park consisted of 26 pads and 22 park owned homes.  

TMG was able to work with a lender that would allow park owned homes and give the highest leverage that was allowed. TMG presented a loan package that was very appealing to the lender to meet the needs and wants of the client. TMG worked with the lender and was able to satisfy what the client wanted, and in the end the client was very pleased with the loan terms they received.

 

Property:  MHP

Location: North Carolina

LTV: 75%

Loan Amount: $1,578,000

Interest Rate:  9.52%

Term: 5 years

Amortization: 30 years

Prepayment: 3,2,1

Guarantee:  Recourse




Full List of Recent Closings