ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have provided $30,000,000 in financing for several manufactured home communities nationwide in January 2017.
Managing Director, Gerard D. DiMarco, Jr., secured financing for a repeat client’s 290-site manufactured home community in Houston, TX with a non-recourse, long-term fixed rate loan of $8,287,000.
In addition, Gerry helped negotiate refinancing for a repeat client’s Midwest MHC Portfolio with a non-recourse $5,950,000 loan featuring a long-term fixed rate and 30-year amortization.
Gerry also helped negotiate refinancing for a client’s MHC in Norwich, CT with a non-recourse loan of $4,522,000. The loan featured a 12 year fixed and 4 years of interest only payments.
Anthony J. DiMarco, the other Managing Director, helped negotiate acquisition financing for a repeat client’s purchase of two mobile home communities in Buffalo and Verona, NY. The $5,950,000 non-recourse loan featured 4 years interest only payments.
In addition, Anthony closed a loan for a repeat client’s acquisition of two communities in Augusta, ME. The non-recourse loan of $5,306,000 featured a long term fixed rate and a 30 year amortization.
Security Mortgage Group is a premier national lending source for Manufactured Home Communities, and is a four-time recipient of the “Manufactured Home Community Lending Broker of the Year” award given by the Manufactured Housing Institute. Call us at 585-423-0230 anytime for specific questions on financing for your community.