ROCHESTER, N.Y. (October 26, 2011)
Security Mortgage Group is proud to announce the closings of three new loans in October of 2011. Four MH communities were served through this financing, including a total of 618 home sites.
Shady Acres MH Community and Eldora Estates MH Community closed on financing of $3,050,000 on October 26, 2011. The communities, located in Donna and Pharr, Texas, have a total of 358 home sites. The refinance was created with a 10 year term and a 30 year amortization. This deal was for a returning client.
Vista West MH Park of Odessa, Texas acquired $1,200,000 in acquisition financing on October 19, 2011 for its 191 homesites. This loan was also created for a returning client.
Midway Village MH Community secured a small acquisition loan of $672,000 on October 14, 2011 for its 69 home sites in Evansville, WI.
Security Mortgage Group is the premier national lending source for Manufactured Home Communities, having received the "Manufactured Home Community Lending Broker of the Year" award in 2004, 2005, 2006, and 2009 from the Manufactured Housing Institute.