ROCHESTER, N.Y. (July 18, 2013)
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have recently provided $10,520,000 in financing for several properties nationwide in June and July 2013.
Anthony DiMarco, Managing Director, recently secured a $7.4M non-recourse, long-term fixed rate loan for a Midwest MHC Portfolio. The 7-park portfolio consisted of both purchases and refinances and contained 585 total homesites located in Minnesota, Illinois and Missouri.
In June, the other Managing Director, Gerard D. DiMarco, Jr. helped negotiate long-term fixed rate refinancing with a 30-year amortization for 65 unit Fox Brook Town homes in Hamburg, NY. The $2,550,000 non-recourse loan also did not require an escrow for repair reserves.
Also in early July, Pierce Redmond secured a $570,000 loan with a flexible prepayment penalty for the 45-site Windmill MHC located in Plymouth, IN.
Security Mortgage Group is a premier national lending source for Manufactured Home Communities, and received the "Manufactured Home Community Lending Broker of the Year" award in 2004, 2005, 2006, & 2009 from the Manufactured Housing Institute. Call us at 585-423-0230 anytime for specific questions on financing for your community.