ROCHESTER, N.Y. (March 30, 2006)
Security Mortgage Group offers clients a variety of loan options, tailoring its financing package to the unique needs of the community owner.
Shepherd Mobile Estates, a 38-site community in Fisher, IL, closed on $315,000 in refinancing in March 2006 with closing costs capped at $5,500.
Kintner Estates Mobile Home Park, in Vestal, New York, recently received $660,250 in acquisition financing. The owner of the 58-site community was provided with a long term fixed rate and a 30-year amortization schedule. The loan closed in 46 days and the lender's closing costs were also capped at $5,500.
Anthony J. DiMarco recently closed $3,680,000 in acquisition financing with a 30 year amortization for Beaver Creek MH Park, a 247-site community in Knoxville, Tennessee. The financing was arranged with 80% loan to value.
Additionally, Anthony J. DiMarco refinanced a $5,100,000 loan for the 245-site Atascocita MH Park in Humble, Texas. The borrower was also able to lock in a long-term interest rate with a 30-year amortization schedule.
Gerard D. DiMarco, Jr. obtained funding for Mimosa MH Park, a manufactured home community with 82 sites, located in Elizabethtown, Pennsylvania. While securing financing of $1,500,000, the borrower was able to lock in a long term fixed interest rate at historically low levels.
Security Mortgage Group LLC, named "Manufactured Home Community Lending Broker of the Year" in 2004 and 2005, continues to be the leader for income producing property financing nationwide. Since its inception in 1990, the company has placed over $1,000,000,000 in community financing in 26 states from Florida to Maine, to Texas and California.