September 16, 2021
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $31,065,000 for several Manufactured Home Communities in the third quarter of 2021.
Managing Director, Gerard D. DiMarco, Jr., helped secure a non-recourse, long term fixed rate loan of $7,020,000 for a repeat client’s 228-site MHC in Central Ohio.
Gerry also secured financing for a repeat client’s 76-site MHC in Upstate New York. The $2,550,000 non-recourse loan featured a long-term fixed rate with interest-only terms.
Anthony J. DiMarco, the other Managing Director, negotiated financing for a repeat client’s 327-site Iowa MHC. The non-recourse $11,100,000 loan featured interest-only terms and a long-term fixed rate of 3.25%.
In addition, Anthony secured financing for a repeat client’s 209-site MHC located in Southern Texas with a non-recourse, long term fixed rate loan of $6,425,000.
Vice President, Pierce Redmond, helped secure financing for a client’s 79-site South Carolina MHC with a fixed rate loan of $1,860,000 featuring flexible pre-payment terms.
Pierce also negotiated financing for a repeat client with a non-recourse, long term fixed rate loan of $1,600,000. The 65-site MHC is located in Western Ohio.
In addition, through the small loan program, Pierce secured financing for a client’s loan on a 72-site MHC in Eastern Ohio. The fixed rate loan of $510,000 featured flexible prepayment terms.
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.