ROCHESTER, N.Y. - June 18, 2007
Security Mortgage Group is pleased to announce mobile home community loan closings in Illinois and Oklahoma. To date in 2007, SMG has provided financing for over 7,500 sites nationwide.
Airway Mobile Home Park of Oaklawn, Illinois secured $8,250,000 in permanent mortgage financing on June 8, 2007. The community has 275 homesites; the loan has a 10 year term and a 30 year amortization schedule.
On June 18, Park East Manufactured Housing Community acquired $1,135,000 in refinancing for its 122 sites in Tulsa, Oklahoma.
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, and 2006 from the Manufactured Housing Institute.