May 2, 2020
SECURITY MORTGAGE GROUP
Income Property Specialists
FOR IMMEDIATE RELEASE
May 1, 2020
Contact: Gerard D. DiMarco, Jr.
SECURITY MORTGAGE GROUP Provides Financing for Several Manufactured Home Communities in March and April, 2020 with rates as low as 2.94% Fixed
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $52,007,000 for several Manufactured Home Communities in March and throughout April of 2020. Security Mortgage is proud to continue to quote and close loans for community owners during the Covid-19 crisis.
Managing Director, Gerard D. DiMarco, Jr., helped negotiate refinancing of a repeat client’s MHP and RV Park in Idaho. The $8,957,000 loan featured a 2.94% fixed rate for 10 years with the first 5 years interest-only.
Additionally, Gerry helped negotiate refinancing terms of $6,600,000 featuring a flexible prepayment structure. The repeat client’s 332-site mobile home communities are in the Buffalo, NY market.
Anthony J. DiMarco, the other Managing Director, negotiated refinancing of a client’s 253-site mobile home community in Palm Desert, CA. The $20,000,000 full term, interest only loan featured a 2.99% fixed rate for 10 years.
Anthony also secured financing for a repeat client’s purchase of a 218-site MHP in Bangor, ME. The $8,800,000 non-recourse loan featured a long-term fixed rate win an interest-only period.
Additionally, Anthony negotiated the refinance of a repeat client’s 234-site MHC in Northwest Ohio. The $5,925,000 loan featured the first 6 years of interest-only payments with a 3.22% fixed rate for the full term.
Vice President, Pierce Redmond, through the small loan program, secured financing for a client’s purchase of a mobile home park in Lancaster, PA. The long term, fixed rate non-recourse loan of $1,725,000 featured a 3.57% rate for 10 years.
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.